Solar module producer from Germany Solarwatt has acquired REConvert of the Netherlands to strengthen its know-how in the field of power electronics for storage systems and inverters, after having launched its home storage system Solarwatt Battery flex with BMW Group in 2021.
Solarwatt expanded its module production capacity in September 2021 by 300 MW with the launch of a new line in Dresden to produce glass-glass modules while also adding 2 new production lines for battery energy storage systems (BESS) with the BMW Group (see 300 MW Module Facility In Germany).
Launched in 2018, REConvert is a specialist in the field of power electronics for battery storage and develops state-of-the-art electronic solutions with high-speed processors and associated control systems. It has been working with Solarwatt subsidiary Solarwatt Innovation on the development of home storage for several years.
The deal was completed for a single-digit million amount but actual value was not disclosed by Solarwatt whose CEO Sven Böhm termed the acquisition as a logical step for the company.
The German company said REConvert's Managing Director Arno Van Zwam, along with Solarwatt CTO Dr Armin Froitzheim, will now be responsible for business development of the Dutch company that gets to retain its name post the acquisition is finalized.
"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. This is definitely a win-win situation," explained Zwam.