Oct 17, 2010

#BDS: Israeli solar water heater producer enters US market

Rehovot-based company signs multi-million dollar exclusive distribution deal with American solar energy giant; deal worth $50 million over 5 years

Israel is turning into a leading solar water heater supplier in the United States – M.C.O Industries, a Rehovot-based veteran solar water heater manufacturer and one of Israel's top solar panel producers, signed an exclusive distribution deal with Texas-based solar energy company Sun Freedom.

The deal, signed last week, is worth of up to $50 million (about NIS 180 million) over the next five years.

Sun Freedom is owned by two giant Texan construction and installation firms. As part of the deal, the American company will sell M.C.O solar water heaters at an estimated value of $12 million in the first year, and up to $50 million over the five-year exclusivity agreement.

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