Solar Synergy: Toronto’s QD Solar acquired by SunDensity
Tyler Choi - Sustainable Biz Canada
Published: June 25, 2024
Rochester, N.Y.-based SunDensity Inc. has acquired Toronto's QD Solar Inc., renaming it SunDensity Canada, to align both companies on technologies and products that amplify solar panel efficiency.
SunDensity Canada is the developer of a solar cell which includes a layer of a mineral called perovskite. The addition of perovskite can elevate the efficiency of an average solar panel from the low-20 per cent range to over 40 per cent.
“If you combine SunDensity’s technology with our technology, then I think you have the possibility to get into the mid-40 per cent range,” Dan Shea, the chief commercial officer and general manager of SunDensity Canada and CEO of QD Solar, told Sustainable Biz Canada in an interview.
SunDensity is developing coatings that improve the efficiency of solar panels and increase the reflectivity of windows and glass, helping to lower energy costs and carbon emissions by reducing heat gain.
The acquisition will combine the technological expertise of both companies, as commercialization plans are being finalized, Shea said.