Valoe Oyj (”Valoe”) and Simoldes Plásticos S.A. (”Simoldes”), a Portuguese company, have signed a Joint Development Agreement for the design, development, prototyping, and production of a photovoltaic car roof for a major European car manufacturer.
The first phase includes the design, development, and prototype of a solar car roof. The value of the order for the first phase, commencing immediately, is approximately EUR 40,000. When in mass production Simoldes has estimated to deliver solar roofs up to 176,000 vehicles, annually.
The goal of the joint development project is to take the solar roof designed for a specific car model from prototype to mass production. Subject to successful completion of the first phase the parties intend to pursue the manufacturing and supply of vehicle-integrated photovoltaic modules and related technology transfer.
Simoldes Plásticos S.A. is a Portuguese company, subsidiary of Simoldes Group, with 22 manufacturing sites in 13 different countries and is Europe's largest mould maker, supplying plastic injection moulds for the automotive industry. Simoldes Group main customers are worldwide automotive manufacturers like Renault, Peugeot, Citroën, Opel, Audi, Porsche, Skoda, BMW, Mercedes-Benz, Volkswagen, and SEAT.
Valoe is an innovative technology company based in Finland and operates in the clean energy business. The company’s objective is to have clean solar electricity available for everyone everywhere. Valoe’s solar module plant is located in Juva, Finland, and the company has an IBC solar cell plant in Vilnius, Lithuania.