About SolarReserve
SolarReserve was formed to solve two of the fundamental barriers of renewable energy: scalability and storage. Unlike hydroelectric, geothermal, biomass, and other renewable energy technologies that use limited renewable fuel sources, SolarReserve's power plants draw their heat from the sun - earth's ultimate source of clean energy. And unlike wind and photovoltaics, SolarReserve's power plants can deliver power whenever it is needed, either 24 hours per day or only during "peak" demand. By overcoming these two key barriers, SolarReserve enables utility-scale, clean, renewable electricity generation.
One might guess that such revolutionary technology is an unproven, unrealistic concept dreamed up by optimistic scientists. Actually, this technology has been proven and demonstrated by one of the world's leading technology conglomerates, United Technologies. United Technologies' subsidiary, Hamilton Sundstrand Rocketdyne, demonstrated the technology at the Solar One and Solar Two power plants in Southern California. United Technologies has granted SolarReserve the proprietary technology know-how and an exclusive worldwide license to develop power plants using this proven technology. Even more importantly, United Technologies will stand behind its equipment and technology, providing the guarantees and warrantees necessary to realistically develop these multi-hundred million dollar power projects.
SolarReserve's other founding partner is US Renewables Group, a $575 million private equity firm exclusively focused on renewable power and clean fuel projects. US Renewables Group has extensive experience developing successful renewable power projects, such as the Bottle Rock geothermal power plant and the Niagara biomass power plant. US Renewables Group will provide SolarReserve with the financing and development expertise to successfully implement this revolutionary technology worldwide.
With technology and engineering support from United Technologies and development and finance support from US Renewables Group, SolarReserve is poised to revolutionize the electricity industry.
In addition to its backers, SolarReserve has assembled a strong team to achieve its objectives, including former executives at United Technologies, head engineers from Solar Two, leading renewable power developers, and the legal and financial experts required to build projects of such magnitude.