TVP Solar Deploys Solar Air-Conditioning System at Saudi Aramco Headquarters

GENEVA, SWITZERLAND--(Marketwired - March 31, 2015) -

A correction from source is issued for the press release disseminated March 30 at 14:27. The text in the first paragraph has been corrected to read "November 2014" instead of "November 2015". The revised and updated release follows:

Editors Note: There is a photo associated with this press release.

TVP Solar is pleased to announce the results of the solar-assisted air-conditioning (SAC) system installation, commissioned in November 2014 at Saudi Aramco's headquarters in Dhahran, Saudi Arabia. TVP's high-vacuum flat MT-Power panels supply fluid at a temperature of up to 180°C to drive a double-effect absorption chiller, to produce cold air for Saudi Aramco's Al-Munirah Community Library.

In support of the Kingdom's energy efficiency initiatives, Saudi Aramco continues to implement a wide range of innovative measures to expand and diversify the company's energy supply; save energy across its operations, whether industrial or nonindustrial; and create opportunities for sustainable growth.

TVP Solar's CEO, Mr. Piero Abbate said: "TVP Solar is proud to support Saudi Aramco in this promising field of solar air cooling. With our MT-Power panels, TVP can help reduce the high energy consumption related to electric air conditioning in Saudi Arabia, substituting oil use with solar."

The solar panels produced an average daily thermal energy output of 2 kWh per m² of active panel area. The output was during the current winter weather period with an average solar input of just 5 kWh/m², without any cleaning of the panels since installation. Solar energy contributes up to 65% of the chiller energy needs during daylight hours. The solar field has the potential to supply over 815 kWh_thermal /m² per year. This field test is planned for a total duration of 18 months.

In addition to proving the viability of SAC in desert regions, this installation will confirm two unique features of MT-Power panels: the ability to operate with higher efficiency at higher ambient temperature (in summer exceeding 50°C), as opposed to photovoltaic systems; as well as the ability to operate without cleaning in dusty environments, thanks to diffuse light capture, as opposed to solar concentrators.

About Saudi Aramco:

Saudi Aramco is a leading global integrated energy and chemicals company. It is driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world's oil supply to developing new energy technologies, the company's global team is dedicated to creating impact in all that it does. Saudi Aramco's focus is on making its resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world (see www.saudiaramco.com for more information)

About TVP Solar:

TVP Solar SA is a Swiss company which designs, develops, manufactures and markets innovative high-vacuum flat solar thermal panels based on patented technology. TVP Solar is a game-changer in the solar thermal industry, effectively competing with electricity in the cooling and industrial process heat markets, while introducing new thermal energy-producing roofs for the residential market.

For more information please visit: www.tvpsolar.com

To view the photo associated with this press release, please visit the following link:

http://www.marketwire.com/library/20150331-Aramco-gr.jpg

Jonathan Koifman
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www.tvpsolar.com