Press Release Summary: Millennium Energy Industries Establishing Millennium Energy Palestine with Strategic Partner Catalyst Private Equity and Arab Palestinian Investment Ltd
Press Release Body: Millennium Energy Industries (MEI) in partnership with Catalyst Private Equity and Arab Palestinian Investment LTD (APIC) announced the inception of Millennium Energy Palestine, which will utilize the references, experience, technology and exclusive agency relationships of Millennium Energy Industries to develop the Palestinian Solar Heating Market. Millennium Energy Palestine will serve the residential, commercial, and industrial sectors by providing economically feasible solar solutions to satisfy the demand for hot water and space heating for industrial hot water while saving its clients up to 85% on their conventional fuel bill (diesel, gas, and electricity). Market studies show that with the current fuel prices in the Palestinian market, payback period for Millennium’s solar systems is close to one year depending on the application. Millennium Energy Palestine will start its operations this summer in Ramallah. Palestine has sizable potential in space heating and solar water heating in ; hotels, hospitals, houses, educational institutions and industrial companies. Advanced solar heating solutions provided by MEI in Palestine have an edge over the traditional solar products currently present in the Palestinian market. MEI’s edge includes strong solution engineering, evacuated tube based products and professional installation. The company has over two hundred references in solar space heating in the region as well as many industrial hot water customers.
About Millennium Energy Industries MEI is an international company operating in the Middle East & North Africa (MENA) region. The company is a provider of solar energy solutions for an array of applications for residential, commercial and industrial usage including: space heating, central hot water systems and swimming pool heating. MEI’s products include; solar water heaters, evacuated tube solar collectors and the absorption chiller which will be ready by 2009/2010. The company sets presence in the MENA through a network of distributors and business operations in Saudi Arabia, Lebanon, Bahrain, Egypt, Syria, Libya, Iraq, Palestine and the UAE. www.millenniumenergy.co.uk
About Catalyst Private Equity Catalyst Private Equity is a regional Energy and Water sector product and technology focused private equity firm, uniquely structured to have a positive strategic and financial impact on the region. The company has completed a total of three investments including; Omni Oil Technologies and Extreme Invent and Millennium Energy Industries
2012
