Adris, Koncar, Podravka boost Croatia’s share indices
Bulgaria's TPP Bobov Dol 9-mo cons net profit surges 142% y/y
Romanian stock indices start week in the green, Sphera shines
Romania eyes over 8 GW installed PV capacity by 2030 - president
Sofia bourse indices reverse losses amid soaring turnover
Sep 01, 2023 11:52 EEST
September 1 (SeeNews) - Bulgaria's Shelly Group [BUL:SLYG; ] said on Friday that it has formed a strategic partnership with US-based enegytech start-up Zendure which will create growth opportunities in the emerging market of smart home energy management for retail consumers.
The collaboration will see Shelly's smart home automation technology integrated with the mini photovoltaic (PV) systems, known as balcony power plants, and energy storage systems provided by Zendure, the Bulgarian company said in a stock exchange filing.
You can download the 2023 Renewable energy in Bulgaria report here
The companies will share know-how and resources, such as research and development capabilities, the develop products and boost growth through cross-sales via specific e-commerce channels, joint marketing campaigns and market entry initiatives, according to the statement.
"Additional growth is promised for the balcony power plant market in Germany with new regulations coming into force from 1 January 2024, allowing for higher power generation capacity of up to 800 watts in the future. In addition, bureaucratic obstacles will be removed and registration procedures simplified," Shelly Group noted.
Over two-thirds of newly-installed solar PV systems on private buildings in Germany are combined with home energy storage, with Germany emerging as the market leader in 2021, with a 59% share, according to data from industry association SolarPower Europe, quoted by Shelly Group.
Founded in 2017, Zendure is based in Silicon Valley, USA, with other offices in California, China, Japan and Germany. It has developed products such as the SolarFlow balcony energy storage system and the SuperBase V plug-and-play whole-home energy storage system.
"This partnership once again highlights our expertise in seamlessly integrating and interoperating hardware and software from a wide range of manufacturers and use cases to provide real added value with smart building solutions that take into account both user preferences and energy efficiency," Dimitar Dimitrov, co-CEO of Shelly Group, said.
Shelly Group, formerly known as Allterco, distributes IoT products to over 100 markets, with offices in Bulgaria, China, USA, Slovenia and Germany and six subsidiaries. The company recently reported that its first-half consolidated net profit nearly doubled, to 11.7 million levs ($6.5 million/6 million euro) from 6.3 million levs a year earlier.
(1 euro = 1.95583 levs)
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options