Kitron: Ferroamp signs production agreement with Kitron
September 30 2022 - 2:00AM
Kitron: Ferroamp signs production agreement with Kitron
(2022-09-30) Kitron has entered into a production agreement with
Ferroamp, a rapidly growing Swedish greentech company. The value of
the agreement is expected to reach approximately NOK 90 million in
2023 and NOK 350 million over a three-year period.
Ferroamp has developed EnergyHub, a system that controls
electricity use using a patented DC technology, so that property
owners can get more out of their solar panels and integrate
electric car charging and energy storage. During the first half of
2022, Ferroamp increased its sales by 60 percent and is now
planning an international launch.
“Ferroamp continues to expand its operations through
collaborations with strategic partners. We are delighted to have
signed an agreement with Kitron, which has a leading position in
electronics production and has the capacity to produce large
volumes of EnergyHub systems for our residential customers,” says
Krister Werner, CEO of Ferroamp.
The EnergyHub system is available for both commercial properties
and multi-family buildings, with EnergyHub Wall 14 being
specifically adapted to residential systems. Through the
collaboration with Kitron, Ferroamp triples the production of
EnergyHub Wall 14.
“We are very happy that Ferroamp has chosen Kitron as a
manufacturing partner to enable its strong growth journey. For a
few years now, Kitron has invested heavily in meeting the sharply
increasing demand within the Electrification market, and we are
well positioned to meet that demand. Signing a long-term
partnership agreement with Ferroamp, a market leader in the
integration of local power grids, is a great recognition,” says
Kristoffer Asklöv, COO of Kitron.
The production for Ferroamp will take place at Kitron's facility
in Poland and is expected to start within a few weeks.
For further information, please contact:
Peter Nilsson, President and CEO, tel. +47 94 84 08 50Kristoffer
Asklöv, COO, tel. +46 76 768 29 10 68E-mail:
investorrelations@kitron.com
Kitron is a leading Scandinavian electronics manufacturing
services company for the Connectivity, Electrification, Industry,
Medical devices and Defence/Aerospace sectors. The group is located
in Norway, Sweden, Denmark, Lithuania, Germany, Poland, the Czech
Republic, China and the United States. Included the acquisition of
BB Electronics in January 2022, Kitron has about 2 800 employees,
and pro forma revenues were about NOK 5 billion in 2021.
www.kitron.com
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
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