More than 300 solar energy modules designed by Burnaby's Day4 Energy Inc. (TSX:DFE) are now powering the largest solar energy plant in Mexico.
The 56-kilowatt solar facility, built by Arian Solar, is powering L'Oreal's Mexico City warehouse. The global cosmetics company was looking to develop a consistent off-grid power source given the country's unreliable, inefficient and expensive electricity system.
The energy is used not only to power the business operations of the warehouse, but also the electric forklifts that stock, shelve and deliver L'Oreal's merchandise.
Day4's solar panel modules use the company's proprietary electrode and employ a different approach to module construction that improves efficiency, durability and lifetime energy output of solar panels.
Day4's share price range during the past week: between $2.12 and $2.93; 52-week high: $7.20; 52-week low: $1.90.