UK-Based Firm Bags Order Worth 4 Million Pounds Order to Supply Technology for Solar Facility in Gujarat
GR2L's technology, which intends to reduce energy consumption, carbon footprint, and manufacturing costs of solar panels, received support from the UK Export Finance (UKEF), the UK government's export credit agency, through a GBP 475,000 guarantee issued under its Bond Support Scheme, contributing to the order's success.
September 18, 2023. By EI News Network
GR2L's technology, which intends to reduce energy consumption, carbon footprint, and manufacturing costs of solar panels, received support from the UK Export Finance (UKEF), the UK government's export credit agency, through a GBP 475,000 guarantee issued under its Bond Support Scheme, contributing to the order's success.
According to CEO and Founder of GR2L, Rob Grant, “Building on our existing export successes, support from Lloyds Banks and UKEF helped us to secure this latest growth opportunity and further develop our established international presence. I look forward to commissioning our machinery by the end of 2023.”
The report cited solar panel manufacturers depend on argon gas to purify silicon crystals, a crucial component in solar cells. This process utilises major quantities of argon, which sometimes requires daily shipments.
GR2L had the opportunity to supply its argon recycling technology to Mundra Solar Technology Ltd., supporting the construction of a solar facility in Mundra. The guarantee provided by UKEF's Bond Support Scheme allowed GR2L to reclaim a portion of the cash deposit, ensuring access to essential funds required to fulfill the Mundra contract and seize this exporting opportunity.
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