Airtouch Solar deepens its operations in India
Signed a multi-year transaction of approx. 4 million USD with the India based ACME Group for the supply and maintenance of solar panels cleaning robots
ACME is a leading solar developer in India and diversified into Green Hydrogen and Ammonia
March 23, 2023: Tal Laufer, CEO of Airtouch Solar: "This significant deal with ACME Group, a leading solar developer in India, represents, in our view, a great expression of confidence in the solution offered by Airtouch. We believe there is great potential for expanding our collaboration with ACME The Indian market currently recognizes the need to invest in robotic solutions for dry (water-free) cleaning of the panels in PV solar fields, partly in light of the climate crisis and the demand for water conservation. Utilizing Airtouch’s new manufacturing plant in India, completed in the past year, we are optimally prepared to meet the demand and significantly expand our operations in India, this while expanding our operations in other markets."
ACME’s COO, Mr Sandeep Kashyap added: We are proud to partner with Airtouch solar, a leading water free robotic cleaning solution provider. The adoption of robotic cleaning systems will not only help in conserving water but will also bring greater efficiency in the cleaning of solar panels. The new system will service Acme solar plant in Rajasthan. We look forward to reaching closer levels of cooperation in various projects with Airtouch in our future projects.
Airtouch Solar continues to expand its operations in India. The company announced today that it has signed agreements with India's leading solar developer, ACME Group, in the magnitude of 4 million USD, for sales, supply, installation, operation and maintenance of robotic water-free cleaning systems for PV solar panels.
ACME Group (www.acme.in) set up in 2003, is a pioneer in cleantech sectors such as solar, green hydrogen & ammonia and sustainable green protein development. The Company is one of the leading solar power developers in India with project across 12 States and capex invested and committed of nearly $8 billion. In the past, ACME has undertaken transactions with Actis, Petronas, NIIF, Renew, BAML, Brookfield, Piramal, APG and Allianz, among others.
Under the agreements, Airtouch will receive approximately 1.5 million USD in consideration for the sale and installation agreement, and the 25-year operation & maintenance services agreement is expected to generate additional revenues in a total cumulative amount of nearly 2.5 million USD.
Airtouch Solar (TASE:ARTS) is one of the leading and innovative companies in the field of autonomous robotic cleaning technologies in the solar energy market. The company, established in 2017, is engaged in the development, production, marketing, operation and maintenance of robotic water-free cleaning solutions of photovoltaic panels, which are used in the solar energy market. The company combines the provision of unique technological solutions to customers on a “tailor made” basis, with effective and fast service, which lead to improvement in the energy output of the solar panels, in a fast, efficient and automated manner, while saving money for customers. In March 2021, the company completed an initial public offering (IPO) raising 61 million NIS. The company's headquarters are located in Israel, and the company operates two production facilities - in Israel and in India. As of this date, the company manufactures and sells its products and services in Israel and India, and is currently examining and promoting processes for entering new target markets. The company's CEO is Tal Laufer and it was founded by Mr. Yanir Allouche who serves as its Chairman of the Board and CTO.