Cencorp Corporation Stock Exchange Release 13 August 2013 at 15.10 Finnish time
PROXENERGY AND CENCORP HAVE SIGNED A SOLAR MODULE DISTRIBUTION AGREEMENT – THE FIRST ORDER WILL BE DELIVERED TO CAPE VERDE AND VALUES FOR APPROX. 0.15 MILLION EUROS
ProxEnergy BV and Cencorp Corporation have signed a Distribution Agreement on selling photovoltaic modules, manufactured by Cencorp, in Cape Verde and the Netherlands. The first order based on the Distribution Agreement values for ca. EUR 0.15 million.
Iikka Savisalo, Cencorp’s CEO:”I am happy that Cencorp has signed the Agreement with ProxEnergy known as one of Europe’s most advanced photovoltaic energy integrator in terms of technology. Although the volume of the first order is relatively small, the order is important as it proves Cencorp’s photovoltaic module based on the company’s own technology, has become a commercial product with real demand in the market. The order has another significant feature in it; the modules will be installed in Cape Verde. Cape Verde is a good example of Cencorp’s potential market areas where energy is mainly produced by diesel generators”, says Iikka Savisalo, Cencorp’s CEO.
Stefan Lodeweyckx, ProxyEnergy’s CCO:”We are pleased that we are the first European integrator to represent the next generation MWT (Metal Wrap Through) modules. Cencorp’s MWT modules represent the next generation module technology and can very well be integrated with ProxyEnergy’s grid control systems. The Cencorp agreement is supposed to turn into a long-term cooperation with ambitious targets”, says Stefan Lodeweyckx, ProxyEnergy’s CCO.
Similarly, Cencorp is aiming to sign distribution agreements for its photovoltaic modules in all geographical areas significant for the company’s Clean Energy Solutions business.
Cencorp's transition from a company manufacturing only production automation systems and special components into a company that develops and provides Cleantech applications using laser and automation technology, a company with a strong market position as a provider of locally produced, high-quality photovoltaic modules and a company operating in various geographical markets, involves risks. Even though Cencorp's strategy and objectives are based on market knowledge and technical surveys, the risks are significant and it is not certain if the company reaches all or part of the targets set for it. Cencorp's future outlook will be highly dependent on the company's ability to reach the targeted market position in the global photovoltaic module market as well as on the company's long-term financing. Cencorp's goal is to reach strong market position as provider of locally produced high-quality photovoltaic modules.
In Mikkeli, 13 August 2013
CENCORP CORPORATION
BOARD OF DIRECTORS
For more information please contact:
Cencorp: Iikka Savisalo, President and CEO, tel. +358 40 521 6082, iikka.savisalo@savcor.com
Distribution:
NASDAQ OMX, Helsinki
Main media
www.cencorp.com
Cencorp Corporation is a leading provider of industrial automation solutions. The equipment included in the product portfolio designed for depaneling, odd-form assembly, testing and laser materials processing substantially improves the efficiency of customers' production. Cencorp has selected clean technology as its other business segment, especially photovoltaic solutions. Cencorp manufactures and sells photovoltaic modules, based on Cencorp´s own technology, key components of photovoltaic modules as well as their manufacturing technology. The product range also includes EMI shielding solutions, RFID antennas, other flexible circuits including for example conductive back sheets used in photovoltaic modules and mobile phone antennas. Cencorp's head office is located in Mikkeli, Finland. The company is part of the Finnish Savcor Group.
