SMA Solar Technology AG (SMA/FWB: S92) and Danfoss A/S are planning to launch a joint venture aimed at connecting various technical components in the food retail segment through a combination of the SMA energy management platform ennexOS and the Danfoss System Manager SM800 to integrate supermarkets into the energy system. Supermarket operators can use the integrated solution developed by the planned joint venture to sustainably reduce their operating expenditure and optimize their carbon footprint. Becoming a key component of the flexible energy system of the future can generate new sources of revenue for the supermarket. The first pilot project will begin shortly.
The future of the energy system depends on whether we develop solutions that provide flexibility to efficiently integrate renewable energy sources. Intelligent building technology is the key to success. The joint venture planned by SMA and Danfoss aims to provide supermarket operators with an integrated solution that interconnects cooling and refrigeration technology, photovoltaics, energy storage technology and e-mobility. Intelligently managing loads and integrating the overall system into the energy market allows supermarket operators to reduce their operating expenditure, optimize their carbon footprint and considerably improve their long-term competitiveness. In addition, they will become a key component of the energy system of the future.
“Our expertise in photovoltaics, battery-storage systems and energy management is a complementary fit with Danfoss’ long-standing experience in cooling and refrigeration technology and its access to customers in the food retail segment,” said Dr.-Ing. Jürgen Reinert, Board Member for Operations and Technology of SMA Solar Technology AG. “I am delighted that this planned joint venture will allow us to further expand our strategic partnership with Danfoss.”
“The food retail segment is both of strategic importance and a playing field for innovation,” said Jürgen Fischer, President of Danfoss Cooling. “Innovative products from cooling and heating technology combined with photovoltaics, energy storage and charging stations will be used in the supermarket of the future. Supermarkets will not only provide fresh goods, but also transform the utility grid, which will become more reliable, greener and more flexible. Danfoss and SMA are very well positioned to tap into this new market. As part of this planned joint venture, headquartered in Hamburg, Germany, we will work together to develop our tried-and-tested technology and secure ourselves a leading market position in this segment.”
SMA’s newly founded subsidiary, coneva GmbH, will cooperate with Danfoss’ Cooling Segment to design a service offering tailored to the individual requirements of the food retail segment. “The SMA energy management platform ennexOS is an ideal tool for optimizing the energy consumption of retailers using parameters like the current electricity prices, outside temperature, solar irradiation and temporary grid requirements,” explained Jochen Schneider, general manager of coneva GmbH. “Surplus self-generated electricity can either be sold directly or stored in electric and thermal storage systems. The integration into the energy market also allows us to secure the supply of cost-effective, environmentally friendly energy. In addition, we can integrate charging stations.”
The planned joint venture is likely subject to the approval of competent antitrust authorities.
About Danfoss
Danfoss engineers technologies that enable the world of tomorrow to do more with less. We meet the growing need for infrastructure, food supply, energy efficiency and climate-friendly solutions. Our products and services are used in areas such as refrigeration, air conditioning, heating, motor control and mobile machinery. We are also active in the field of renewable energy as well as district heating infrastructure for cities and urban communities. Our innovative engineering dates back to 1933 and today Danfoss is a world-leader, employing more than 26,000 employees and serving customers in more than 100 countries. We are still privately held by the founding family. More information on www.danfoss.com.
Disclaimer:
This press release serves only as information and does not constitute an offer or invitation to subscribe for, acquire, hold or sell any securities of SMA Solar Technology AG (the “Company”) or any present or future subsidiary of the Company (together with the Company, the “SMA Group”) nor should it form the basis of, or be relied upon in connection with, any contract to purchase or subscribe for any securities in the Company or any member of the SMA Group or commitment whatsoever. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended.
This press release can contain future-oriented statements. Future-oriented statements are statements which do not describe facts of the past. They also include statements about our assumptions and expectations. These statements are based on plans, estimations and forecasts which the Managing Board of SMA Solar Technology AG (SMA or company) has available at this time. Future-oriented statements are therefore only valid on the day on which they are made. Future-oriented statements by nature contain risks and elements of uncertainty. Various known and unknown risks, uncertainties and other factors can lead to considerable differences between the actual results, the financial position, the development or the performance of the corporation and the estimates given here. These factors include those which SMA has discussed in published reports. These reports are available on the SMA website at www.SMA.de. The company accepts no obligation whatsoever to update these future-oriented statements or to adjust them to future events or developments.
The future of the energy system depends on whether we develop solutions that provide flexibility to efficiently integrate renewable energy sources. Intelligent building technology is the key to success. The joint venture planned by SMA and Danfoss aims to provide supermarket operators with an integrated solution that interconnects cooling and refrigeration technology, photovoltaics, energy storage technology and e-mobility. Intelligently managing loads and integrating the overall system into the energy market allows supermarket operators to reduce their operating expenditure, optimize their carbon footprint and considerably improve their long-term competitiveness. In addition, they will become a key component of the energy system of the future.
“Our expertise in photovoltaics, battery-storage systems and energy management is a complementary fit with Danfoss’ long-standing experience in cooling and refrigeration technology and its access to customers in the food retail segment,” said Dr.-Ing. Jürgen Reinert, Board Member for Operations and Technology of SMA Solar Technology AG. “I am delighted that this planned joint venture will allow us to further expand our strategic partnership with Danfoss.”
“The food retail segment is both of strategic importance and a playing field for innovation,” said Jürgen Fischer, President of Danfoss Cooling. “Innovative products from cooling and heating technology combined with photovoltaics, energy storage and charging stations will be used in the supermarket of the future. Supermarkets will not only provide fresh goods, but also transform the utility grid, which will become more reliable, greener and more flexible. Danfoss and SMA are very well positioned to tap into this new market. As part of this planned joint venture, headquartered in Hamburg, Germany, we will work together to develop our tried-and-tested technology and secure ourselves a leading market position in this segment.”
SMA’s newly founded subsidiary, coneva GmbH, will cooperate with Danfoss’ Cooling Segment to design a service offering tailored to the individual requirements of the food retail segment. “The SMA energy management platform ennexOS is an ideal tool for optimizing the energy consumption of retailers using parameters like the current electricity prices, outside temperature, solar irradiation and temporary grid requirements,” explained Jochen Schneider, general manager of coneva GmbH. “Surplus self-generated electricity can either be sold directly or stored in electric and thermal storage systems. The integration into the energy market also allows us to secure the supply of cost-effective, environmentally friendly energy. In addition, we can integrate charging stations.”
The planned joint venture is likely subject to the approval of competent antitrust authorities.
About Danfoss
Danfoss engineers technologies that enable the world of tomorrow to do more with less. We meet the growing need for infrastructure, food supply, energy efficiency and climate-friendly solutions. Our products and services are used in areas such as refrigeration, air conditioning, heating, motor control and mobile machinery. We are also active in the field of renewable energy as well as district heating infrastructure for cities and urban communities. Our innovative engineering dates back to 1933 and today Danfoss is a world-leader, employing more than 26,000 employees and serving customers in more than 100 countries. We are still privately held by the founding family. More information on www.danfoss.com.
Disclaimer:
This press release serves only as information and does not constitute an offer or invitation to subscribe for, acquire, hold or sell any securities of SMA Solar Technology AG (the “Company”) or any present or future subsidiary of the Company (together with the Company, the “SMA Group”) nor should it form the basis of, or be relied upon in connection with, any contract to purchase or subscribe for any securities in the Company or any member of the SMA Group or commitment whatsoever. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended.
This press release can contain future-oriented statements. Future-oriented statements are statements which do not describe facts of the past. They also include statements about our assumptions and expectations. These statements are based on plans, estimations and forecasts which the Managing Board of SMA Solar Technology AG (SMA or company) has available at this time. Future-oriented statements are therefore only valid on the day on which they are made. Future-oriented statements by nature contain risks and elements of uncertainty. Various known and unknown risks, uncertainties and other factors can lead to considerable differences between the actual results, the financial position, the development or the performance of the corporation and the estimates given here. These factors include those which SMA has discussed in published reports. These reports are available on the SMA website at www.SMA.de. The company accepts no obligation whatsoever to update these future-oriented statements or to adjust them to future events or developments.
