Battery firm plots charge on eastern Europe
Scottish thermal storage technology company Sunamp has signed a milestone agreement signalling an expansion of its alternative energy source into central and eastern Europe at a critical time.
The East Lothian firm has agreed a partnership in Poland with Faradise Energy, a subsidiary of construction and engineering company Compremum which is listed on the Warsaw Stock Exchange.
The agreement will see Sunamp ramp up distribution of its energy efficient thermal batteries in Central and Eastern Europe in line with the company’s international expansion strategy.
The first order under the deal has been confirmed, and sales are expected to reach up to £10m in three years.
The deal was signed in Poznań by Sunamp CEO Andrew Bissell and Faradise CEO Andrzej Laskowski. Faradise Energy will distribute Sunamp’s Thermino range of heat batteries for hot water in the Polish market,
The distribution agreement is a first step towards creating a manufacturing joint venture to produce thermal batteries using phase change materials in Poland under the Sunamp brand.
Poland is home to one of Europe’s fastest growing solar PV markets and is accelerating the adoption of heat pump technology in conjunction with solar PV and other renewables to speed up emission reduction and provide energy security.
Mr Bissell said: “This is an exciting partnership that marks the beginning of Sunamp’s plans for significant growth in Central and Eastern Europe.
“With specialisms in the construction sector and ambitions to grow their share of the renewable energy market, Pozbud Inwestycje is an excellent fit for us.
“Against a backdrop of soaring energy costs, precarious gas supplies and the requirement to be more energy self-sufficient, the global market for more efficient thermal storage is growing fast as countries turn away from gas and coal towards renewable sources of energy.”
Mr Laskowski added: “The signing of the trade agreement with Sunamp is an event of great importance to us. Having entered the field of electricity storage for industry, we now have thermal energy storage technologies for households.
“We believe that this will be an extremely fruitful cooperation which, on the one hand, will support Polish homes in terms of thermal energy supply and, on the other hand, will be the basis for the joint development of both entities in large-scale projects.”