Solar Innovator Innotech Invests in Germany

BERLIN, February 11 /PRNewswire/ — The photovoltaic industry in Eastern
Germany has received a further boost from Norwegian solar company ITS
Innotech Solar. The company has acquired land for a new investment in the
Eastern German city of Halle, with plans to construct a factory to increase
power of solar cells. ITS was assisted in the investment process by Germany
Trade & Invest.

ITS’ investment will initially create 80 new jobs in the region with
plans to double its amount of employees in the future. The company,
headquartered in Narvik, Norway, purchases solar cells and uses industrial
production techniques to increase the power output and guarantee the quality
of the cells.

Innotech Solar CEO Thor Christian Tuv: “Germany provides us with the
ideal conditions to strengthen our business activities. A thriving
photovoltaic industry cluster and outstanding infrastructure here are
essential for us. We are sure the Halle site gives us a unique competitive
advantage that will allow us to continue our company’s extraordinary growth.”

The decision to invest in Germany is a testament to the country’s
well-developed PV industry. With the highest concentration of photovoltaic
companies, suppliers, and research institutes, Germany’s industry posted over
EUR 9.5 billion in revenues in 2008. The country’s market size also makes it
an attractive location. In 2009, Germany had roughly half of all global PV
installations, coming in at approximately 3.0 GW. This trend is expected to
continue. Manufacturers benefit from the “Made in Germany” reputation for
high quality products, a well established industrial infrastructure, large
equipment supplier base, and qualified workforce.

The country’s infrastructure also played a key role in ITS’ decision to
invest in the Halle site. Proximity to the Leipzig-Halle airport and direct
access to the German Autobahn connect the company to the world’s number one
infrastructure, according to a World Economic Forum study.

Innotech Solar was assisted in the investment process by Germany Trade &
Invest and the Investment and Marketing Corporation (IMG) Saxony-Anhalt.

Germany Trade & Invest is the foreign trade and inward investment
promotion agency of the Federal Republic of Germany. The organization advises
foreign companies looking to expand their business activities in the German
market. It provides information on foreign trade to German companies that
seek to enter foreign markets.

    Germany Trade & Invest
    Eva Henkel
    T: +49(0)30-200099-173
    F: +49(0)30-200099-111
    Email: eva.henkel@gtai.com

SOURCE Germany Trade and Invest