AEG Power Solutions Acquires a Majority Stake in skytron energy
Acquisition enhances AEG PS’s strengths in renewable energy
Zwanenburg, the Netherlands, March 10, 2010 - AEG Power Solutions, a global player in industrial power electronics, strengthens its position as a solutions provider for megawatt utility-scale photovoltaic (PV) power plants with the purchase of a majority stake in skytron energy. Founded in 1996, Berlin-based skytron provides leading-edge metering, monitoring and supervision solutions to companies in engineering, procurement and construction (EPCs), as well as to independent power producers (IPPs). The technological leader in its field, skytron has been the recipient of a number of prestigious awards, including the highly coveted Intersolar Award. The amount of the transaction, which was paid in cash, is not being disclosed.
Commenting on the acquisition, Bruce Brock, Chief Executive Officer of AEG Power Solutions, said: “Combining skytron’s monitoring and supervision products with our power electronics and experienced global services network will allow us to offer PV power plant operators highly reliable technology and expertise for the integration, implementation, and operation of rugged solutions for greater system availability and higher energy yields.”
“This is the partnership we were looking for,” commented Martin Sauter, Chief Executive Officer of skytron energy. “We needed a strong industrial partner to support our growth and give us access to the global market. The alliance will enhance our access to funds to improve our leading-edge technology while allowing us to provide our customers with strong service in all the emerging PV markets.”
Skytron will be a strategic business area within AEG Power Solutions, and continue to act as an independent monitoring solutions provider. AEG PS will invest in skytron’s technology to deliver leading-edge solutions for current markets and customers, as well as address AEG PS’s many industrial vertical markets and the powering of the Smart Grid.
About skytron energy
Based in Berlin, skytron energy GmbH is specialized in the development and manufacture of monitoring systems for utility-scale PV power plants. The company employs 40 people, mainly R&D engineers involved in hardware and software development. To date, skytron has installed its monitoring solutions in numerous PV power plants across Europe with a total capacity of over 570 MW. Two of the largest PV power plants in the world - Germany’s 54 MW plant in Strasskirchen and 40 MW facility in Finsterwalde - have been equipped with the company’s monitoring solutions.
During the 25th PV Symposium Bad Staffelstein skytron energy introduced to the public two innovative product solutions:
- a first-in-market string current metering unit with approved accuracy for the entire operating temperature and metering range of below +/- 0,5%; and
- skyControl, a ground breaking true grid management control system meeting the requirements of the BDEW medium voltage directive which opens the way to smart grid applications for utility scale PV power plants.
www.skytron-energy.com
About AEG Power Solutions
Since its creation more than 60 years ago, AEG Power Solutions has stood for rugged reliability and world-class engineering. Today, AEG Power Solutions offers one of the world’s most comprehensive portfolios of premium power supply systems, solutions and services. Solutions and controllers from AEG Power Solutions are designed specifically to interface with utility electrical grids, providing high efficiency, customized energy solutions to industries requiring complex, intelligent power supply control.
The company employs 1,600 people in 16 countries, including more than 160 service and installation engineers, to provide comprehensive customer support and service. Renowned for engineering excellence, AEG Power Solutions holds more than 70 active patents in power conversion and benefits from more than a half century of expertise.
In addition to standard and customized UPS, the AEG Power Solutions range of industrial products and services includes DC systems for industrial applications, UPS for IT, industrial chargers, and premium power controllers for high-tech industry applications, railway solutions and solar inverters. The group also provides world-class standard and customized telecom power systems.
AEG Power Solutions was acquired on 10 September 2009 by Germany1 Acquisition Limited, which is listed on Euronext Amsterdam under the ticker symbol “GAL1 S”.
Forward-Looking Statements
This communication does not constitute an offer or the solicitation of an offer to buy, sell or exchange any securities of Germany1. This communication contains forward-looking statements which include, inter alia, statements expressing our expectations, intentions, projections, estimates, and assumptions. These forward-looking statements are based on the reasonable evaluation and opinion of the management but are subject to risks and uncertainties which are beyond the control of Germany1 and, as a general rule, difficult to predict. The management and the company cannot and do not, under any circumstances, guarantee future results or performance of Germany1 and the actual results of Germany1 may materially differ from the information expressed or implied in the forward looking statements. As a result, investors are cautioned against relying on the forward looking statements contained herein as a basis for their investment decisions regarding Germany1.
Germany1 undertakes no obligation to update or revise any forward looking statement.
For More Information Contact
Media relations:
Claire Pairault
AEG Power Solutions
Tel: + 33 6 19 60 91 64
+33 1 55 51 10 76
www.aegps.com
claire.pairault@aegps.com
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Investor relations:
Jeffrey Casper
AEG Power Solutions
Tel: + 44(0) 77 91 91 12 90 53
+31 (0) 61 09 75 830
www.aegps.com
Jeffrey.casper@aegps.com
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