SolarReserve Buys Unit Of Aerojet Rocketdyne

Santa Monica-based utility-scale, solar power developer SolarReserve said Monday that it has acquired the Concentrating Solar Power (CSP) business of Aerojet Rocketdyne. Financial terms of the buy were not disclosed. According to SolarReserve, it will use the acquisition of the unit to bolster its intellectual property in the area of molten salt technology for solar thermal power. SolarReserve said it also will hire key personnel from Aerojet Rocketdyne with the technology acquisition, including the hiring of Aerojet Rocketdyne's Chief Engineer, George O'Connor.