Ferroamp inks production agreement with Kitron
EMS provider Kitron has entered into a production agreement with Swedish greentech company Ferroamp. The value of the agreement is expected to reach NOK 90 million (EUR 8.5 million) in 2023 and NOK 350 million (EUR 33.4 million) over a three-year period.
Ferroamp's EnergyHub systems integrate solar power, energy storage and DC loads into one system with intelligent control and real-time monitoring. During the first half of 2022, Ferroamp increased its sales by 60 percent and is now in a rapid growth phase. Last week the company entered into an extended production collaboration with the Swedish EMS provider NOTE, as previously reported by Evertiq.
“Ferroamp continues to expand its operations through collaborations with strategic partners. We are delighted to have signed an agreement with Kitron, which has a leading position in electronics production and has the capacity to produce large volumes of EnergyHub systems for our residential customers,” says Krister Werner, CEO of Ferroamp, in a press release.
Through the collaboration with Kitron, Ferroamp triples the production of EnergyHub Wall 14. The production for Ferroamp will take place at Kitron's facility in Poland and is expected to start within a few weeks.
“We are very happy that Ferroamp has chosen Kitron as a manufacturing partner to enable its strong growth journey. For a few years now, Kitron has invested heavily in meeting the sharply increasing demand within the Electrification market, and we are well positioned to meet that demand. Signing a long-term partnership agreement with Ferroamp, a market leader in the integration of local power grids, is a great recognition,” says Kristoffer Asklöv, COO of Kitron.