Storage manufacturer Fenecon wants to gain a foothold in the US market

02/02/2024


Source: Energy & Management Powernews

Fenecon is reporting strong growth. The Lower Bavarian storage manufacturer increased its turnover by 50 percent last year and its workforce also grew by half.

Fenecon is increasingly doing flourishing business with its commercial and industrial storage systems. The Lower Bavarian company cites the rising sales figures in this segment as one reason for the exceptionally good financial year 2023.

According to a press release, the Deggendorf-based company closed the past year with a turnover of 140 million euros. That is an increase of 50 percent. Around 300 employees contributed to this, which is also an increase of half. "A shortage of skilled workers is not an issue for us at the moment," says founder and Managing Director Franz-Josef Feilmeier.

Home storage market increasingly competitive

In addition to home storage solutions, commercial customers are playing an increasingly important role for the up-and-coming company. Fenecon products with an output of over 700 kW are used as storage systems for industrial companies and solar parks. The large-scale systems are a series of surplus, new batteries from the electric vehicle industry. Fenecon will be ramping up production at its new site in Iggensbach this year in order to manufacture them in series.

Fenecon CEO Franz-Josef Feilmeier now wants to take the business model across the pond. The company wants to gain a foothold in the US market with locally manufactured large storage systems. The company is planning its own production plant for this purpose.

From Feilmeier's perspective, the past financial year was characterized by major fluctuations. At the beginning, home storage systems sold well despite high prices. Later, demand fell while the number of providers and products increased. There will continue to be "tough consolidation" on the market in the future, with "strong, customer-oriented manufacturers" in particular continuing to grow.

Franz-Josef Feilmeier takes a more relaxed view of the commercial and industrial storage sector. Here, the strong growth has "only just begun". According to the Fenecon Managing Director, this will continue to drive the storage market as a whole. In addition to expanding its international business, Fenecon is aiming for a higher market share in Germany and the expansion of "domestic vertical integration" by 2024.

Author: Volker Stephan