Sunny merger

, a Texas-based supplier of solar technology to NASA, has announced a merger with a subsidiary of New Jersey-based

(WWAT), a developer of high-power solar systems.

Under the terms of the merger, WWAT will pay $5m in cash, $39.3m in shares, and $5m in earn-out payments (five per cent of WWAT’s gross revenues until this amount is reached) to ENTECH stockholders.

In addition to these payments to ENTECH’s shareholders, WWAT will pay £1.3m of ENTECH’s liabilities at closing and provide $5m of working capital to initiate the manufacture of the ENTECH 20x concentrator systems for a 50MW plant in Spain.

The plant is expected to begin operating in the second quarter of 2008. WWAT has signed a letter of intent with Spain-based M&G Promociones for installation of ENTECH systems for 10MW in 2008, 10 MW in 2009, 10 MW in 2010 and 50MW in 2011 and another 50MW in 2012.