AEG Power Solutions acquires majority stake in skytron energy

13 March of 2010 by

AEG Power Solutions, a global player in industrial power electronics,has strengthened its position as a solutions provider for megawattutility-scale photovoltaic (PV) power plants with the purchase of amajority stake in skytron energy.

Founded in 1996,Berlin-based skytron provides leading-edge metering, monitoring andsupervision solutions to companies in engineering, procurement andconstruction (EPCs), as well as to independent power producers (IPPs).

Thetechnological leader in its field, skytron has been the recipient of anumber of prestigious awards, including the highly coveted IntersolarAward. The amount of the transaction, which was paid in cash, is notbeing disclosed.

Commenting on the acquisition, Bruce Brock,CEO of AEG Power Solutions, said: “Combining skytron’s monitoring andsupervision products with our power electronics and experienced globalservices network will allow us to offer PV power plant operators highlyreliable technology and expertise for the integration, implementation,and operation of rugged solutions for greater system availability andhigher energy yields.”

“This is the partnership we were lookingfor,” commented Martin Sauter, CEO, skytron energy. “We needed a strongindustrial partner to support our growth and give us access to theglobal market. The alliance will enhance our access to funds to improveour leading-edge technology while allowing us to provide our customerswith strong service in all the emerging PV markets.”

Skytronwill be a strategic business area within AEG Power Solutions, andcontinue to act as an independent monitoring solutions provider. AEG PSwill invest in skytron’s technology to deliver leading-edge solutionsfor current markets and customers, as well as address AEG PS’s manyindustrial vertical markets and the powering of the Smart Grid.

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