7 February 2012, at 10 a.m.
INCAP SIGNS AGREEMENT ON THE MANUFACTURE OF STREET AND AREA LIGHTING POWERED BY SOLAR ENERGY
Incap Corporation has signed a cooperation agreement on the manufacture of solar street and area lights for Naps Systems, a leading solar electricity system and product developer and supplier. Incap will manufacture the complete end products at its Kurressaari facility, where they will also be equipped with solar panels manufactured at the Estonian production unit of Naps Systems.
The first volume deliveries from Incap will take place in March 2012. The product is a completely new one, utilising the latest technology. Naps Systems is marketing the product globally through its own sales network.
Solar street and area lighting is becoming increasingly popular since the cost of solar electricity is coming down and LED technology is improving. These technologies are often used in areas with no power grid, but they may also be a financially viable solution in areas where an operational power grid exists. The total cost of the lighting system is often lower than the cost of just extending a power line to the light pole.
Chief Technical Officer Mikko Juntunen from Naps Systems: "The sales of our new lighting product have started nicely, and we believe that demand will rise steeply. Convincing references, flexible operations and confidence in faultless assembly of the complete product delivery were the primary criteria when selecting an assembly partner."
Director Jari Koppelo from Incap: "I am very happy that Naps, the distinguished pioneer of solar devices, has chosen us as their manufacturing partner. Production of the lighting systems suits our strategy excellently as we aim to deliver large product entities and complete products for our customers. We are looking for new customers among the manufacturers of devices that utilise renewable energy, among others, and solar energy can certainly be considered as an application area with great growth potential."
Incap contact information:
Sami Mykkänen, President and CEO, tel. +358 40 559 9047
Jari Koppelo, Director, Business unit Energy efficiency, tel. +358 40 347 2092
Hannele Pöllä, Director, Communications and Investor Relations, tel. +258 40 504 8296
Naps Systems contact information:
Mikko Vehkavaara, Vice President, Marketing and Sales, tel. +358 40 860 9662
Mikko Juntunen, Chief Technical Officer, tel. +358 40 860 9663
NASDAQ OMX Helsinki Ltd
INCAP IN BRIEF
Incap Corporation is an internationally operating contract manufacturer whose comprehensive services cover the entire life-cycle of electromechanical products from design and manufacture to maintenance services. Incap's customers include leading equipment suppliers in energy efficiency and well-being technologies, for which the company produces competitiveness as a strategic partner. Incap has operations in Finland, Estonia, India and China. The Group's revenue in 2010 amounted to EUR 59.2 million, and the company currently employs approximately 730 people. Incap's share is listed on the NASDAQ OMX Helsinki. Additional information: www.incap.fi.
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Source: Incap Oyj via Thomson Reuters ONE