PROVIDENCE, R.I., Jan. 27, 2025 (GLOBE NEWSWIRE) — E2SOL LLC and BK Energy, both well established and recognized internationally as industry product innovative companies, announced today that the two companies have signed a memorandum of understanding on January 8, 2025, at the Consumer Electronics Show (CES25) and Conference, to jointly develop a framework for further development and commercialization of a new Integrated Floating Photovoltaic Energy Storage Systems (IFPVESS) and new Photovoltaic Nano-Coatings.

According to Global Market Insight (1), the North America floating solar PV market size is projected to observe around 10% CAGR from 2024 to 2032, driven by the growing interest in pairing floating solar with energy storage solutions. The study estimates that the US could add between 861GW to 1,042GWdc of FPV capacity on reservoirs, generating up to 1,476TWh of electricity.

E2SOL and BK Energy are working to further accelerate initiatives aimed at achieving the reduction of carbon emissions and the preservation of critical water sources for society. In anticipation of collaboration in areas such as floating photovoltaic power generation, energy storage, and environmental protective coatings based on nano-particles technologies, ongoing discussions among the companies are being conducted on a broad industry and technology scope.

As new photovoltaic and smart energy systems continue to evolve, it is essential to create new energy generation and distribution value streams by integrating the technologies, experience and knowledge accumulated by each company leveraging their combined 29 years in the industry.

Comment from Anthony Baro, Managing Principal, E2SOL

“We are delighted to announce a strategic partnership between E2SOL and BK Energy to develop and commercialize a new generation of IFPVESS Systems. These innovative systems will provide greater value to society by augmenting energy production, expanding Grid infrastructure, lowering carbon emissions, and safeguarding and preserving our natural resources.”

Comment from Edison Lee, President, BK Energy

“We are so excited to be working with E2SOL on this groundbreaking partnership that aims to redefine sustainable energy solutions. Combining our expertise in innovative technologies with E2SOL’s proven track record.

We look forward to advancing integrated floating solar power, energy storage systems and nano coating technologies. We are confident that this partnership will be an important step forward in addressing the critical challenges of climate change by mitigating water shortages by installing floating solar power plants, transforming solar power plants from landscape destroyers to tourism resources, and increasing power generation efficiency to ultimately address important challenges such as carbon reduction.”