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SMA Solar Technology AG Founds Subsidiary coneva GmbH for Digital Energy SolutionsNiestetal, )
The energy supply industry is undergoing a fundamental change and becoming increasingly decentralized and digital. More and more companies and end users are leveraging the cost advantages of renewable energies and producing their own electricity cost-effectively. In this environment, traditional business models of public utilities are becoming increasingly obsolete, and new competitors are entering the market and providing energy prosumers with innovative solutions for the efficient use and marketing of their self-generated electricity. Traditional utilities can retain a foothold in this market only by offering their customers dedicated solutions for the new energy world. And it is precisely these solutions that coneva GmbH develops for them.
“Digitalization of the energy supply offers many attractive business opportunities,” said SMA CEO Pierre-Pascal Urbon. “Against this background, the evolution of SMA over the coming years into an energy service provider is one of our key strategic goals. The founding of coneva GmbH is an important milestone along this road. This will allow us to tap into new markets and customer groups with an energy service platform, an ecosystem comprising the IoT platform for energy management ennexOS, a range of innovative services and partners from the energy industry. This all is possible thanks to the many years of experience and the unparalleled expertise of SMA in all areas of cross-sector energy management.”
The heart of coneva GmbH’s business model is holistic energy management across all sectors—from generators such as photovoltaics and wind turbine systems, through loads such as lighting, heating, ventilation, refrigeration, cooling, to storage and e-mobility, as well as the matching of supply and demand via the ennexOS platform developed by SMA.
“Digitalization of the energy supply offers completely new opportunities and possibilities for areas such as public utilities, the housing sector, supermarkets, hotel chains and OEMs,” said coneva general manager Jochen Schneider. “We are really excited to have the opportunity to help our customers leverage this potential with our experienced team of specialists. Our White Label solution approach combines the appropriate hardware and software with a range of relevant services to create comprehensive solution packages. Numerous startups are entering the energy services market in particular and many of them have little experience either on the market or with this technology. For us, it is thus a huge advantage that we can build on SMA’s many years of expertise, sophisticated technology and data, while also being able to act as a dynamic, standalone unit completely independent of the parent company. On top of that, SMA’s financial strength gives our customers that all-important security.”
At E-World energy & water from February 6 to 8 in Essen, coneva GmbH will be showcasing its solutions in Hall 2, Booth 2-314.
This press release serves only as information and does not constitute an offer or invitation to subscribe for, acquire, hold or sell any securities of SMA Solar Technology AG (the “Company”) or any present or future subsidiary of the Company (together with the Company, the “SMA Group”) nor should it form the basis of, or be relied upon in connection with, any contract to purchase or subscribe for any securities in the Company or any member of the SMA Group or commitment whatsoever. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended.
This press release can contain future-oriented statements. Future-oriented statements are statements which do not describe facts of the past. They also include statements about our assumptions and expectations. These statements are based on plans, estimations and forecasts which the Managing Board of SMA Solar Technology AG (SMA or company) has available at this time. Future-oriented statements are therefore only valid on the day on which they are made. Future-oriented statements by nature contain risks and elements of uncertainty. Various known and unknown risks, uncertainties and other factors can lead to considerable differences between the actual results, the financial position, the development or the performance of the corporation and the estimates given here. These factors include those which SMA has discussed in published reports. These reports are available on the SMA website at www.SMA.de. The company accepts no obligation whatsoever to update these future-oriented statements or to adjust them to future events or developments.
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