ITS module sales tripled-20 Million Euros secured for further growth

Innotech Solar has successfully developed high sales volumes in both pre-existing and new markets, with an emphasis on growth in the European market. One of the reasons for its success was the launch of the new European made modules that received very positive feedback from customers. The ITS Economy New module achieves a higher yield per installed power unit than other comparable modules. This high yield is possible by utilizing a combination of unique technologies. Taking into account the attractive pricing of this module series, customers with an ITS solar system experience the payback on investment twice throughout the lifetime of the system, and enjoy the benefits of having a highly profitable solar PV plant.

In addition to the sales growth in Europe, Innotech Solar is now expanding the sales efforts to other regions. Sales in the US and Mexico have started from the newly opened office in California. Finally, Innotech Solar launched an off-grid module series to address the market needs of stand-alone PV-solutions.

Innotech Solar’s focused business model and low cost position enabled the growth of sales volumes. Furthermore, Innotech Solar secured additional funding for realizing in-house expansion plans. Financial institutions and investors have contributed 20 Million Euros, of which half is new equity.

Thor Christian Tuv, CEO of Innotech Solar: “We are proud to have shown that Innotech Solar could grow fast, and even faster than others in the industry in 2011. The unique business model and the customer focus have brought us into a good position, and strong investors and banks are backing the company’s development.”

12th January 2012

 Thor-Christian Tuv, CEO