Demo at Wal-Mart

Ottawa-based Menova Energy is getting up to $5.8 million from the McGuinty government and Wal-Mart Canada to demonstrate its solar energy system at the retailers’ outlet slated to be built in Markham, Ont. Menova_Energy-logo.jpgMenova says the province will give the company a $2.8-million forgivable loan, which it will only have to repay if its technology fails to produce expected results. In addition, Wal-Mart will provide $3 million to help Menova install and test its Power-Spar solar concentrator technology on the roof of the 220,000-square-foot Wal-Mart Supercentre. The demonstration of the system, which is designed to concentrate solar energy by approximately 1,000 times to reduce the number of solar cells needed to produce x amount of energy, will determine whether it fits with Wal-Mart’s goal to eventually use only renewable energy at its stores, which currently number almost 7,000 worldwide. Menova Energy was named Most Promising Startup for 2008 at Ottawa Centre for Research and Innovation’s OCRI Awards in April.

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