Business/economy

Entry into inverter business Bosch plans acquisition of voltwerk electronics GmbH

  • Market entry of newly established Bosch Power Tec GmbH
  • Important for further expansion of electromobility and renewables
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  • December 21, 2011
  • Business/economy
  • Press releases

press release

Böblingen/Hamburg. The Bosch Group plans to acquire voltwerk electronics GmbH, a Hamburg-based supplier of electronic components and software solutions for the operation of photovoltaic arrays. An agreement to this effect has been signed with Conergy AG. The parties have agreed not to disclose the purchasing price. The acquisition is subject to approval by the antitrust authorities. In 2010, voltwerk electronics and its roughly 100 associates generated sales of some 68 million euros. Its product portfolio mainly comprises string and central inverters for photovoltaic arrays. “In acquiring voltwerk electronics, Bosch can enter the inverter market, as well as draw on a broad product portfolio ranging from 3 kW string inverters to 1400 kW central inverters,” said Dr. Volkmar Denner, the Bosch board of management member responsible for research and advance engineering.

Alexander Gorski, Conergy’s director of operations and sales, commented: “We are very pleased to have found an investor and partner that is so highly regarded and strong as Bosch. It will now develop and drive forward the business of voltwerk electronics.” For Conergy, he continued, the sale of voltwerk electronics was an important move in the context of its stra­tegic reorientation.

Inverters are used wherever direct current has to be converted into alter­nating current. As renewable energy and electromobility become more and more widespread, these inverters are playing an increasingly important role. For example, the direct current generated by a solar cell has to be converted into alternating current before it can be fed into the grid. And in electric vehicles, a conversion process is also needed so that the electric motor can use the direct current from the battery. Furthermore, when recuperating brake energy and feeding it back into the battery, inverters and their sophisticated power electronics are needed once more.

Expanding the product range
voltwerk electronics is to become part of the Böblingen-based Bosch Power Tec GmbH. Set up last January, its task is to drive forward the inverter business within the Bosch Group and to develop new generations of devices. This acquisition also marks the new company's operational entry into this market. Bosch Power Tec will start its operating activities in the area of photovoltaics. “Inverters are at the heart of every solar array. In the coming years, therefore, we want to grow with this dynamic market in all the world's major regions,” said Dr. Andreas Stratmann, the general manager of Bosch Power Tec. Over the next few years, moreover, the company's product range will be further expanded, so that other areas of business apart from photovoltaics can be opened up.

The Bosch Group is a leading global supplier of technology and services. It employs roughly 375,000 associates worldwide (as of December 31, 2015). The company generated sales of 70.6 billion euros in 2015. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing and sales network covers some 150 countries. The basis for the company’s future growth is its innovative strength. Bosch employs 55,800 associates in research and development at 118 locations across the globe. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.”

The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.

Additional information is available online at www.bosch.com and www.bosch-press.com, http://twitter.com/BoschPresse.

PI7623 - December 21, 2011

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