Day4 Energy Inc. (TSX:DFE) announced Monday morning that it has developed a new, more versatile solar module that offers up to 25% greater power yield than its older modules.
The company's share price was up roughly 10% to $0.60 during Monday morning trading.
In a release, Day4 said that the new technology behind its solar modules which are also known as photovoltaic modules dramatically improves the performance of the modules when they are exposed to partial shading, snow, debris that, under normal circumstances, cause a substantial reduction in power yield.
Day4's new modules are three times less sensitive to these external factors and offer as much as 25% greater power yield from the same installation area due to higher installation density.
They can be installed on sites that have been previously considered not suitable for generating solar power.
Day4, which is one of Canada's largest manufacturers of solar modules for residential, commercial and utility scale installations, is currently testing the new modules and expects to have them certified for sale in both the European and North American markets in early 2010.
It will formally launch the new product line at two solar conferences this fall in Hamburg, GE and Anaheim, CA.
Day4's share price in the past week ranged between $0.56 and $0.53; 52-week high: $4.60; 52-week low: $0.33.