MJP International Ltd (OTCMKTS:MJPI) has closed the acquisition of 80% of the released stock of Human Energy Alliance Laboratories Corp through its subsidiary unit Energy Alliance Labs Inc. The company has also appointed Liao Zu Guo as Chief Financial Officer and Chief Executive Officer. HEAL provides a wide array of green energy offerings it markets and sells on web platform. Among them are advanced solar and wind installations for both residential and commercial customers.

Christopher Hudson, the COO of MJP International, reported that they are extremely delighted with this deal which will work as a next step into the green energy industry which is advancing at the most rapid pace ever. In specific, domestic requirement for solar panels has been extremely strong.

The industry

According to the SEIA, in the last decade, the solar industry has witnessed a compound yearly growth rate of almost 60% and more than 200,000 Americans function in the respective sector. Over 400,000 American workers are projected to serve this sector by 2020. Additionally, the cost to install solar has declined by over 70% in the last 10 years, directing the industry to extend into new markets and set up thousands of systems countrywide.

The solar industry in the U.S. projects to install solar power amounting 14.5 gigawatts in 2016, a jump of 94% over the record solar power of 7.5 gigawatts last year, as per a new market report by the Solar Energy Industries Association and GTM Research. Revenues from solar installations surged 21% to over $22 billion in 2015 from 2014 period.

MJP International is not the only firm in sector that has released positive updates on its operational front. Another firm in the same sector, InMed Pharmaceuticals, Inc. (OTCMKTS:IMLFF) has been recording strong progress on its R&D program designed for the application of cannabinoids for chronic obstructive pulmonary disease treatment.

Commenting on this progress, Dr. Ado Muhammed, the Chief Medical Officer of InMed, said that they continue to record considerable scientific development that further validates InMed’s bioinformatics analysis mechanism as a cost-effective way to classify drug-disease targets and accelerate their validation in pre-clinical models.