Starting immediately Conergy now offers own-brand, market-tailored solar systems for energy, heating and cooling to customers in the US. The US is currently the third largest market for solar energy after Germany and Japan with enormous growth potential.
The earlier acquisition of an established regional service and distribution network from US-based Dankoff Solar, founded in 1983 and now part of Conergy, serves as a customer-oriented basis for the company's strong market expansion. "Thanks to the internationally proven solar product lines from Conergy and together with our experienced American sales team, we are in an excellent position to quickly grow to become the leading provider of solar systems in the US market," said Paul Benson, former CEO of Dankoff Solar Products Inc. and President of Conergy Inc. USA. .
Numerous regional subsidy incentives such as the "million solar roof" program recently proposed in California and an energy feed-in production credit introduced in Washington State in May 2005, mean the US market for solar energy is set to grow enormously. With 22 employees, Conergy already posted first-quarter revenues of EUR 2.8 million and a positive EBIT of EUR 261,000.
"The consistent expansion of our global sales channels gives us a decisive competitive advantage in acquiring new customers for our solar product lines. This strategy will enable us in future, too, to continue to grow faster than the global solar energy market, now averaging around 30%. At the same time, we can become less dependent on regional market fluctuations and public incentives," said Hans-Martin Rüter, CEO of Conergy AG in Hamburg.
In addition to its sound business in the US, Conergy has also opened new subsidiaries in Australia, Mexico and Portugal. These activities, coupled with pending entries into new markets, represent a major increase in the share of Conergy's revenues and profits generated outside of Germany.
|