2010-03-15
Solar Millennium AG: Chief Executive Officer resigns - supervisory board announces reorganization of the management board
Erlangen 15 March 2010 Today, Professor Dr. Utz Claassen resigned from his duty as member and chairman of the management board of Solar Millennium AG (ISIN DE0007218406). He refers to his contractual right to step down from his office within a certain consideration period. He did not provide the Company with details on his decision.
Chairman of the supervisory board Helmut Pflaumer: "The resignation came unexpectedly for the supervisory board. We respect the decision and welcome his intention to remain on friendly terms with the Company. The supervisory board will reorganize the duties of the management board in due course to ensure the sustainable growth of Solar Millennium AG."
About Solar Millennium AG:
Solar Millennium AG, Erlangen, is an international company in the renewable energy sector, with its main focus on solar-thermal power plants. Together with its subsidiaries and associates, the Company specializes in parabolic trough power plants and has managed to take a globally leading position in this field. Solar Millennium strives to further extend its expertise in the area of solar-thermal power plants with the aim of achieving and securing sustainable technology leadership. As such, the Company covers all important business sectors along the value chain for solar-thermal power plants: from project development and financing to the technology and the turnkey construction and operation of power plants. In Spain, Solar Millennium developed Europe's first parabolic trough power plants and realized these together with partners. Additional projects are planned around the world with an overall capacity of more than 2,000 megawatts: here the current regional focus is on Spain, the US, India, China, the Middle East and North Africa.
About solar-thermal power plant technology:
Solar-thermal power plants generate electricity by converting solar radiation into heat energy. In a parabolic trough power plant, trough-shaped mirrors concentrate the incidental radiation onto a pipe in the focal line of the collector. Its absorption heats a fluid heat medium in the pipe, generating steam in the power block through a heat exchanger. As in conventional power plants, the steam powers a turbine to generate electricity. By integrating thermal storage, electricity can be supplied on demand, even after sunset.
You can download the press release here.
