Israeli solar energy company Apollo Power (TASE: APLP) has notified the Tel Aviv Stock Exchange (TASE) that its wholly owned subsidiary SolarPaint has received an order worth €750,000 from Amazon in Europe. The order is for the design, delivery, and installation of Apollo Energy's flexible, lightweight film solar energy systems for producing electricity on rooftops and 50 square meters of sidewalks.
The solar energy systems will be installed on roofs and sidewalks at an Amazon logistics center in France and will produce 450 kilowatts of electricity.
Apollo said that the order was part of Amazon's efforts to fulfil its vision to reach 100% electricity consumption from renewable sources by 2025 and zero carbon emissions by 2040.
Apollo Power also said that the system it is providing Amazon could provide a solution for other buildings and large logistics centers belonging to Amazon on which there are difficulties in fitting more standard solar energy panels.
The start of work at the site is dependent on the receipt of various approvals from local regulators. Apollo Power expects installation to be completed during the fourth quarter of 2022.
Apollo Power CEO Oded Rosenberg said, "This order from Amazon is a major milestone in the realization of Apollo Power's vision. Our solution is designed to allow the exploitation of commercial and logistical space that cannot bear the weight of solar panels from glass and which require a light and flexible solution. At the same time we are moving forward with construction of a new production plant, which will increase our manufacturing capacity twenty-fold."
Apollo power's share price rose 8.24% today and has risen 75% over the past year to give the company a market cap of NIS 1 billion.
Published by Globes, Israel business news - en.globes.co.il - on February 13, 2022.
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