DGAP-News

Wacker Chemie AG: WACKER and Royal Tech CSP Sign Partnership Agreement for New Heat Transfer Medium for Use in Solar Thermal Power Plants in China

DGAP-News: Wacker Chemie AG / Key word(s): Miscellaneous Wacker Chemie AG: WACKER and Royal Tech CSP Sign Partnership Agreement for New Heat Transfer Medium for Use in Solar Thermal Power Plants in China 29.06.2017 / 09:00 The issuer is solely responsible for the content of this announcement. Munich and Shanghai, June 29, 2017 - Munich-based Wacker Chemie AG has intensified its cooperation with Royal Tech CSP Limited of China, a specialist for highly efficient solar thermal systems that are based on CSP (concentrated solar power) technologies. The two companies signed an agreement to this effect. Under its terms, WACKER will supply its newly developed HELISOL(R) silicone fluid to Royal Tech, its exclusive partner in China. Royal Tech uses the silicone fluid as a heat-transfer medium in its solar power plants. HELISOL(R) can withstand thermal stress of up to 425 C for a long period of time and its viscosity remains low even at -40 C. In combination with Royal Tech's parabolic trough collectors, the fluid enables efficiency levels that are not possible with conventional heat-transfer fluids. At present, Royal Tech is building a 50-megawatt solar power plant in the city of Yumen in western China. Auguste Willems, member of WACKER's Executive Board, underscored the importance of the new partnership: "As a leading polysilicon manufacturer, we have become a key player in the global expansion of solar power. With our newly developed silicone fluid for solar power plants, we are strengthening our portfolio in the renewable-energy field and, at the same time, are supporting initiatives to cut carbon dioxide emissions. Our partnership with Royal Tech will contribute to significantly enhancing the efficiency of solar power plants and, in turn, bolster the market position of our two companies in the highly promising market for high-performance CSP systems." Richard Yu, general manager of Royal Tech, said at the signing ceremony: "Royal Tech has been devoted to R&D and the industrialization of CSP technologies since 2009. Having established an open-ended value chain from project development, technological R&D, component manufacturing to system integration as well as commissioning and maintenance, we cooperate with various partners to jointly promote the development of the industry and the application of new technologies. Our well-established partnership with WACKER, one of the largest silicone manufacturers in the world, will further strengthen the technological advantage of CSP in China's renewable energy market. China is making a concerted effort to replace fossil fuels, such as coal, with electricity from advanced solar thermal plants. Our partnership will contribute to China's ambitious and resolute plans to promote renewable energies even faster and more effectively."