Dresden, Germany-based Solarwatt, a pioneer in the field of solar-powered sector coupling, announced that it has acquired Utrecht, the Netherlands-based battery storage specialist REConvert for an undisclosed amount. REConvert is a power electronics development company that focuses on the Renewable Energy market.
The integration of REConvert into Solarwatt GmbH will be finalised in the coming weeks.
With this acquisition, Arno Van Zwam, previously MD at REConvert and responsible for Business Development, will join Solarwatt. Solarwatt CTO, Dr Armin Froitzheim, will take over the management of a new Solarwatt subsidiary in the Netherlands.
“Making the energy transition tangible”
REConvert was founded in 2018 by five international electronics engineers – Oscar Navarro, Hommad el Farissi, Arno van Zwam, Sanne Ausma, and Bart Meersman. The Dutch company operates in the field of power electronics for battery storage, and develops electronic solutions with high-speed processors and associated control systems.
The team behind REConvert has more than 20 years of experience in EU and US markets. Almost 20 people work for the company, which will operate under the name REConvert in the future and will also continue to be based in Utrecht.
“Acquisition is a logical step”
REConvert and the Solarwatt subsidiary Solarwatt Innovation have been working together on the development of home storage for several years. For Solarwatt CFO Sven Bohm, the takeover of REConvert is a logical step.
Bohm says, “We are consistently continuing our development into a sector coupler by further strengthening our know-how in the field of power electronics for storage systems and inverters through the acquisition.”
Last year, Solarwatt presented the home storage system SOLARWATT Battery flex, which was developed in cooperation with the BMW Group.
Froitzheim says, “We are very pleased that we are now part of the Solarwatt family. We now have a strong team behind us, taking care of material sourcing, sales, logistics and further business development. As a result, we can now concentrate on what we really enjoy and what we are good at: product development.”
“Powering a better tomorrow”
Founded in 1993, Solarwatt claims to have become one of the leading German manufacturers of photovoltaic systems, which range from high-quality solar modules “Made in Germany” to intelligent energy management and storage systems for residential and commercial use.
Solarwatt’s vision is to be a lifelong companion for people who want to supply their homes with clean energy. With over 600 employees, the company is active throughout Europe.
In recent years, the Dresden-based company has entered into several partnerships with companies in the field of electromobility, such as the BMW Group. Recently, Solarwatt also entered into technical cooperation with Stiebel Eltron, a leading German manufacturer in the field of building services and heating.
Solarwatt is now enabling its customers and partners to intelligently link the worlds of energy, mobility and heat, taking the next development step on the way from a photovoltaic system provider to a “sector coupler”.