The company, its current shareholders and ABN AMRO ETF signed the deal today. IDEEMATEC produces technically strong solar PV tracking systems serving largescale solar power projects, globally and mainly located in the sun belt countries. The investment will be used for product development, further strengthening of IDEEMATEC’s international presence in the MENA region, Asia and America and for expansion of the team.
Pieter Smit, ABN AMRO Energy Transition Fund’s investment director comments: “IDEEMATEC is a technology leader in the field of decentralized horizontal PV trackers and is well positioned in this fast growing market. We strongly believe that IDEEMATEC is well positioned to become a top 3 player and are therefore happy to support the growth of the company. IDEEMATEC has a unique technology, strong customer base and an impressive portfolio on 6 continents.”
Mario Eckl, CEO of IDEEMATEC: ”As a supplier of a key component for PV projects we understand our role and responsibility towards our customers. The current order intake of more than 1 GW reflects to us the demand of our highly reliable products and services more than ever before. In addition to a great product and a very experienced team, we have worked hard to expand our global production capacity to meet the market requirements. With a production capacity of 2.5 GW, our customers can rely on a strong supply chain. The improved capital structure provides a solid basis for further expansion. We are therefore very happy that ABN AMRO ETF accompanies us in rolling out our growth plans.”
About IDEEMATEC
IDEEMATEC is a leading supplier of solar tracking systems headquartered in Germany with more than 12 years of experience and over 2 GW of installed systems on 6 continents. The Company employs currently a team of 60 specialists for product R&D, layout design, supply chain & logistic and project management. IDEEMATEC’s innovative high-span safeTrack Horizon™ tracker is powered by a patented drive technology which protects against torsional effects. Outstanding innovations add value through reduced balance of system and civil-/ maintenance costs, while ensuring the highest levels of availability over the entire design lifetime. The company currently supplies solar projects with a total capacity of one gigawatt amongst them flagship projects like 350 MW in Australia and 250 MW in Jordan.
About ABN AMRO Energy Transition Fund
The Energy Transition Fund is an initiative of Netherlands-based financial services provider, ABN AMRO. It manages a €200 million fund aimed at investing in companies and projects in the energy transition: renewable energy, clean mobility, smart infrastructure and energy efficiency. The fund typically makes equity capital investments in the range of €10 million to €25 million. The fund geographical focus is in Northwest Europe.
*The closing of the transaction is subject to clearance by German Federal Cartel Office.
For more information, please find below the relevant contact details:
IDEEMATEC communication manager: Evelyn Kroiß e.kroiss@ideematec.de
ABN AMRO press officer: Arien Bicker arien.bicker@nl.abnamro.com
