EGY Distribution Agreement
Released
Released
Announcement PDF
ASX Announcement
17 May 2024
Energy Technologies Limited – Signs Material Wholesale
Distribution Agreement
Key highlights:
Signed distribution agreement effective
Instruments Environment Solutions GMBH.
immediately
with
Gantner
Provides the opportunity for the company to provide an end-to-end solution
for the Direct Current (DC) electrification of Solar Farms.
Lateral products for the Alternate Current (AC) industry
Agreement is for Australia and New Zealand.
Energy Technologies Limited (ASX: EGY or “the Company”), a 100% owner of Bambach
Wires and Cables Pty Ltd (Bambach) which manufactures low voltage copper insulated
cables, is pleased to release that it has signed its first Wholesale Distribution Agreement.
The agreement, effective immediately, and in conjunction with supply agreements secured in
Asia for connectors, not only allows the company to supply the renewable energy sector with
certificated specialised low voltage cables, connectors, weather stations and DC combiner
boxes delivering power from the solar panels to the inverter but also further products like AC
Combiner boxes into the broader infrastructure industry.
All these products will be sold through our existing channels off our internal sales desk to our
existing clients.
This addition also allows Bambach to participate in the project stage of large-scale solar farms
across multiple products while providing leverage to increase sales in the manufacturing
division.
In the Company’s disclosure dated 3 April 2024 – EGY Investor presentation, the company
indicated that it had identified ‘distribution agreements’ that it was seeking. This is the first
agreement that the company identified after its strategic review to close the loop on providing
a total electrification solution for the renewable industry.
The margins are better than first indicated and the company takes this opportunity to raise its
revenue forecast from ~$2m to ~$5m from this division.
The company will update the market once sales have been made in this division and will
disclose when further Agreements like this are added.
OPERATIONAL CHANGES
Current CEO, Alf Chown, has requested and the board has approved, that he takes long
service leave from May to December of this year (2024). Mr Nick Cousins will assume the
role of acting CEO in line with the company’s succession planning.
Mr Chown will continue to perform his duties as a Director of Energy Technologies Ltd and
Bambach Wire and Cables Pty Ltd during this period.
– END –
About Energy Technologies
Energy Technologies Limited (ABN 38 002 679 469) has a 100% ownership of Bambach
Wires and Cables Pty Ltd, a manufacturer of low voltage copper insulated cables. Learn
more about Energy Technologies at website www.energytechnologies.com.au.
About Gantner
Gantner Instruments Environment Solutions is a full-service PV monitoring and control
supplier for utility scale PV Power Plants. The Gantner hardware portfolio includes
string monitoring devices, DC and AC combiner boxes, weather stations, cloud-based
SaaS, power quality meters, data loggers and the power plant controller “Q. reader”.
Gantner’s solutions are installed in many of the largest utility scale PV plants with a
total capacity in the two-digit GW range, making Gantner one of the biggest
independent PV monitoring companies worldwide. Gantner Instruments was founded
in 1982 and has offices in Germany, Austria, China, France, India and the US.
The PV business unit, Gantner Instruments Environment Solutions, has established
itself in the PV monitoring and control business with the highest level of product
accuracy and reliability. The company has access to a global PV expert network and
several collaborations with leading institutes. Furthermore, it has a worldwide
presence with offices in both established and upcoming PV markets, and technical
experts in many geographic areas on hand to deliver local service.
For more information, please contact:
General enquiries
Corporate Communications
Mr. Gregory Knoke
Company Secretary
greg.knoke@energytechnologies.com.au
This announcement is authorised by Energy Technologies Limited’s Board of Directors
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