Bakhu Holdings Corp. is working toward entering the green energy market through the acquisition of China-based solar manufacturer Shenzhen Xinhonglian Solar Energy Co. Ltd. (SXSE). The company yesterday officially announced its plan to merge with Shenzhen and also said it has reached an agreement with ZTE, a company pursuing a leading position in the global mobile manufacturing market.
After the completion of the merger between Bakhu Holdings Corp. and SXSE, the companies will emerge as Bakhu Solar Corp. Bakhu will maintain SXSE’s strategy to manufacture a wide range of solar products for commercial and consumer applications. SXSE was created in 2002 in the People’s Republic of China, and in 2004 expanded its operations to manufacture photovoltaic (PV) solar panels.
SXSE manufactures 35 various PV solar panels using high-quality solar cells from cell manufacturers in Japan and Taiwan. The company’s products include lane markers, solar street lights, solar traffic lights and battery chargers.
In regards to Bakhu’s manufacturing agreement with ZTE, SXSE will manufacture an initial order of 600,000 solar chargers. These chargers will be integrated into ZTE cell phones which will charge the phones when exposed to light. The initial order represents a “significant” amount of revenues for SXSE, and the company expects more orders to follow.
“SXSE is currently negotiating the total number of units they will supply ZTE, but this represents a significant opportunity for SXSE and recognizes the company’s competence in research, development and manufacturing,” Xinan Zeng, the founder and CEO of SXSE and CEO of Bakhu stated in the press release.
ZTE anticipates it may order more than 6 million additional units in the upcoming year as it works toward its mission to advance from the sixth to the fifth-largest mobile manufacturer in the world. ZTE aims to sell 100 million units in 2010, which it says will boost it to the No. 5 spot.