Solar manufacturer Qcells has acquired a majority stake in German energy technology business Lynqtech.
Qcells has taken a 66% stake in the firm for an undisclosed fee, with Qcells lauding the potential for synergies in home energy solutions including solar PV, electric vehicles and other smart technologies.
Lynqtech, which is based in Hanover, was launched in 2020 as a subsidiary of municipal energy company Enercity and will bring to Qcells expertise in digital cloud platforms and energy software solutions, the companies said.
Lynqtech’s cloud platforms offer to optimise sales, customer care and billing processes of energy companies. Qcells said it would manage its energy trading business via Lynqtech’s platforms in the future while also link the digital processes of its existing customer-facing business.
Susanna Zapreva, CEO at Enercity, said the business chose a partner “with roots outside the classic energy environment” and with an international presence, the objective being to “enable the kind of dynamism in energy industry sales that has long been a reality in other sectors”.
“With LYNQTECH as our technical platform, we can prospectively open up further markets in European countries and worldwide. Given the increasing importance of smart energy platforms worldwide, the qualitative and quantitative growth of our company through this investment will be an important impetus for Qcells’ growth as a global clean energy solutions company,” Moon Cha, CEO at Hanwha Q CELLS said.
Earlier this year Qcells launched a comprehensive rebrand to reflect its pivot from being solely a PV manufacturer to a more holistic clean energy solutions provider.