ZGR Corporación estimates it will reach a turnover of EUR 200 million in three years, which is a significant increase compared to the 2023 year-end, when it obtained a turnover of approximately EUR 11 million.
This is the goal set out in the new 2024 – 2026 strategic plan, presented and approved by its Board. This strategic plan is the roadmap that charts out the company’s growth strategy for the coming years.
Expansión: Penetration in the US market
The main drivers of ZGR Corporation’s significant turnover increases are the launch of a new range of products for the photovoltaic power generation, energy storage and electrical mobility markets, as well as penetration in the U.S. market, where it has formed a new partnership with local shareholders, APEX POWER.
To meet the high demand for equipment in the North American market, the company has started work setting up a new 12,500 m2 production plant in the south of Spain. So far this year, it has also doubled the capacity of its product development centre in Valencia, expanding its laboratories and increasing the number of planned developments and certifications. It will also expand its production capacity in Vitoria in 2025.
Also, more conventional product-based business will grow by 80% over the next three years, taking turnover to EUR 18.5 million by the end of 2026. These products will find their main market in Spain through the company’s own sales force; LATAM, through its branches in Mexico and Colombia; and the rest of the world through the dynamic voltage restoration equipment supply contract it has entered into with Schneider Electric.
Turnover: EUR 15 million in investment from 2024 – 2026
For the 2024 – 2026 period, ZGR Corporación will invest in excess of EUR 15 million to increase its production capacity, to digitalise and automate processes, to renew machinery and equipment, to expand its product development laboratories, to recruit and retain talent and to obtain new product certificates, as well as local certificates in target markets.
These EUR 15 million will be distributed in each financial year as follows: EUR 8.2 million in 2024, EUR 4.3 million in 2025 and EUR 2.7 million in 2026.
Technological innovation and development are factors that set ZGR apart and will allow the company to achieve the estimated turnover figures in its 2024-2026 strategic plan.
Innovative and distinctive solutions
The 2024 – 2026 Strategic Plan places emphasis on innovative and distinctive solutions for markets with significant growth forecasts. The company, which is both a benchmark and at the forefront of power electronics solutions, sets itself apart through the high added value of its products owing to their robustness, flexibility and productivity.
“The North American market,” says the company’s CEO, Íñigo Segura, “is unique for its high technological barriers and the projected sharp increase in the number of applications for which the new range of products we have launched and will continue to launch over the course of 2024.”
ZGR Corporation is penetrating the market for solar inverters, energy storage systems and electric chargers with a new line of products devised and designed in line with the specific nature and singularities of its customers in the USA:
- 1500 V modular central inverters: 1500 V 4.5 MV inverters will be manufactured.
- Energy storage systems in batteries (standalone and hybrid with PV): PCSh 1500 3MW and 4.5 MW chargers will be manufactured.
- Electric chargers: 50 KW electric chargers, 150 – 300 KW ultrafast chargers, and centralised charging systems over 1 MW will be manufactured.
These products and solutions will be initially designed and manufactured in Spain.
With regard to the company’s traditional business, which will be essentially distributed in Spain, Europe and Latin America, there will also be some important innovations in the Strategic Plan:
- Smart Chargers – Rectifiers: The main focus will be on the framework of the new TPS 500, as part of the agreement with Iberdrola and the new context of smart electricity grids.
- Network quality solutions: The main focus of the new development work will be on the DVRs and high power DVRs in the framework of the contract with Schneider Electric on an international basis, and particularly with South America. Constant UPS line growth is envisaged.
- 1500 V modular central inverters: 1500 V 3.3 MW inverters will be manufactured for the domestic and European market.
- Energy storage systems in batteries (standalone and hybrid with PV): PCSh 1500 3MW chargers will be manufactured for the domestic and European market.
- STRING solar inverters: This range of solutions is expected to grow significantly, with a six-fold increase in current sales projected.
The DNA of all ZGR solutions will retain modularity and simplicity, both in terms of design and engineering.
“Our products and solutions are geared towards minimising operational costs (OPEX) and extremely competitive investment (CAPEX), to obtain maximum returns on investment for our customers,” points out Iñigo Segura.
ZGR Corporación estimates that its production capacity will exceed 4 GW/year by the end of 2026.
Talent attraction and retention policies: Close to 300 people are expected to join the company’s global workforce in the next 3 years.
ZGR Corporation’s global workforce is estimated to increase by more than 290 people over the course of three years; 190 new posts in production areas and a further 100 in commercial, financial, administrative, quality, purchasing, etc. support areas, and especially in innovation, where more than 30 new posts will be created. “ZGR’s strategy is to consolidate itself as a pole that attracts and retains specialist talent,” says the company’s CEO, Íñigo Segura.
Regarding Organisation and Personnel, ZGR Corporación is committed to hiring young talent who are well prepared to work in innovation and product development activities, with special attention to all areas of engineering, internal training by highly qualified and experienced senior engineers, and its commitment towards Universities and Applied Research through the ZGR – UPV Department of Power Electronics.
About ZGR Corporación
ZGR Corporación S.A. is a corporate group that specialises in the design, manufacture, implementation and maintenance of robust, reliable and highly productive solutions for the comprehensive management of electrical energy. A manufacturer since 1998, it is an international benchmark in power electronics, especially in the development of smart and grid quality systems, as well as hybrid and modular storage based on batteries.
It specialises in four main areas of expertise: Industry, Transmission and Distribution, Energy (Photovoltaic) and Electrical Mobility. As a manufacturer, one of its differential value elements is its technical service and manufacturing warranties. It has a large number of certifications and approvals for its national and international activity.
Its headquarters are in Vitoria and it has offices in Madrid and Valencia. Internationally, it has offices in Mexico, Colombia and the USA with local technical services in these areas. It undertakes projects and markets its products throughout the world.
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