Germany-based Solarwatt GmbH acquires Utrecht-based Dutch development company REConvert in an undisclosed deal. As per reports, the deal valued a single-digit million and will help Solarwatt strengthen its expertise in power electronics for energy storage systems and inverters.
Specialising in power electronics for battery storage and developing electronic solutions with high-speed processors and associated control systems, REConvert was founded in 2018 by five electronic engineers – Oscar Navarro, Homma del Farissi, Arno van Zwam, Sanne Ausma and Bart Meersman.
In a statement, Solarwatt said that the acquisition is a logical step as the two companies have been cooperating for several years in the development of home storage solutions. Post-acquisition, which will complete in the coming few weeks, Solarwatt will operate under the name REConvert while keep its factory in Utrecht. Arno Van Zwam, ex-managing director at REConvert will take over the management of the new Solarwatt subsidiary in the Netherlands along with Dr. Armin Froitzheim, CTO of Solarwatt.
