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Kitron to supply a complete suite of EMS services to BRC Solar

(2023-10-18) BRC Solar GmbH has chosen Kitron to produce the Power Optimizer, an innovative new product that improves the performance of solar panels.

The value of the agreement is expected to reach an annual level of approximately EUR 10 million within three years. Production will take place at Kitron’s facility in Lithuania.

“We are proud that BRC Solar, a dynamic company in the growing solar industry, has trusted Kitron with the production of this exciting product, which targets a booming market and fits perfectly with Kitron’s focus on electrification as a megatrend and growth driver,” says Mindaugas Sestokas, Managing Director of Kitron Lithuania and VP Central Eastern Europe.

The performance of solar panels degrades when some modules connected in series are shaded or if modules have different alignments or inclinations. The Power Optimizer solves these problems and can be combined with a variety of panels and inverters already on the market.

Kitron will produce the full Power Optimizer product, from printed circuit board assembly to top-level assembly and testing. Because of the high quantities expected, production will be highly automated.

“We were looking for a top-notch EMS partner in Eastern Europe and chose Kitron because of its technical competencies and experience, automatization solutions, high quality of services and capacity possibilities. We look forward to ramping up this partnership as the Power Optimizer hits the market,” says Pascal Ruisinger, Managing Director of BRC Solar.

For further information, please contact:Peter Nilsson, President and CEO, tel.: +47 948 40 850Mindaugas Sestokas, Managing Director, Kitron Lithuania and VP Central Eastern Europe, tel.: +370 685 25557E-mail: investorrelations@kitron.com

Kitron is a leading Scandinavian electronics manufacturing services company for the Connectivity, Electrification, Industry, Medical devices and Defence/Aerospace sectors. The group is located in Norway, Sweden, Denmark, Lithuania, Germany, Poland, the Czech Republic, India, China and the United States. Kitron has about 3 200 employees, and revenues were EUR 641 million in 2022.

www.kitron.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act