NJTC Designates Petra Solar As 'Clean/Green Company Of The Year'
SOUTH PLAINFIELD, NJ (November 17, 2009) - New Jersey Technology Council has selected Petra Solar, a South Plainfield based cleantech company, as the winner of the Clean/Green Company of the Year Award. The selection was based upon key considerations including Petra Solar's unique SunWave™ technology that combines distributed solar generation with smart grid capability and grid quality enhancement functions. Other considerations included the company's impact on the industry, contribution to industry standards, success in the marketplace, and growth rate.
Petra Solar will be honored on Tuesday, November 17th at The Palace at Somerset Park in Somerset. The NJTC ceremony celebrates innovation in the region and salutes the efforts of leaders in technology-based innovation and entrepreneurism.
"Our goal at Petra Solar is to create and grow green jobs as we export products across the nation and around the world," said Shihab Kuran, CEO and President of Petra Solar. "We are grateful for the recognition of the New Jersey Technology Council and its President and CEO, Maxine Ballen. Support from the state's technology community is very important to a cleantech start-up such as ours."
"We are so proud and excited to have been able to name Petra Solar as the Clean/Green Company of the Year for 2009," said Maxine Ballen, CEO and president of the NJTC. "We know that Petra Solar is deserving of this Gala Award and are excited to watch this company as it continues to be an innovative leader in New Jersey."
"NJTC's strong support is a validation of our decision to locate Petra Solar in New Jersey," added Evan Vogel, General Manager of Petra Solar.
In July, Petra Solar became the first business awarded funding under New Jersey's Clean Energy Manufacturing Fund. That same month, the United States Department of Energy awarded Petra Solar a prestigious multi-million dollar grant to perform research on the evolution of the grid with high penetration of solar generation. The company also signed a $200 million contract with PSE&G to produce its SunWave™ intelligent PV solar systems for installation on 200,000 utility and street light poles throughout PSE&G's service area in New Jersey.
"Petra Solar brings together advanced renewable energy technology and a robust communications architecture that enable utilities to maximize the value of their solar power generation," said Joe DeLuca, Vice President of Product Management "We are pleased that NJTC recognizes the value of our innovative approaches."
"Our system can be deployed quickly and scales from an individual panel to utility scale configurations," Dr. Kuran said. "In implementing the contract with PSE&G, we went from contract signing to delivery of our first shipment in 32 days."
Petra Solar is presently in discussion with more than thirty other utilities throughout the country about providing the SunWave system for solar generation, smart grid connectivity and enhanced grid performance through its "intelligent solar solution."
About Petra Solar:
Petra Solar, founded in 2006 by CEO and President Dr. Shihab Kuran, is the pioneer of SunWave, a grid tied, pole mounted, distributed solar generation systems. The SunWave system combines solar energy with smart grid communications and electric grid enhancement functions to create a comprehensive utility grade solution for utilities. Petra Solar's success is the culmination of more than 16 years of research and a portfolio of 20 patents that is constantly growing.
For more information, see www.petrasolar.com.
