Conergy enters bioenergy market via acquisition

Hamburg - Hamburg firm Conergy AG is acquiring MAT-tec Engineering GmbH, headquartered in Willich near Düsseldorf and one of the top systems integration companies in the bioenergy business, via subsidiary holding SunTechnics Solartechnik GmbH. Since 1999 the profitable 12-man firm MAT-tec has specialized in the design and development of tailored, ready-made system solutions for the utilization of bioenergy. Now the company is to become Conergy’s core bioenergy competence center, complementing the Conergy Group’s international system sales. Founder and President Jörg Calefice will be directly in charge of managing this business area.
“Farmers and other major customers are increasingly interested in solar and biogas technology. Our subsidiary SunTechnics, market leader in sales of solar technology, now allows us to respond to this demand with an integrated and competent offer while opening up additional sources of revenue and earnings”, said Hans-Martin Rüter, founder and CEO of Conergy AG. “In Germany alone we serve over 1,300 farming customers using SunTechnics solar systems. Now we will also be able to offer them ready-to-run biogas systems tailored to their needs”, Rüter continued. In addition, the Conergy Group is capitalizing on the know-how of its newly-acquired staff members in the areas of location analysis, setting up project companies, approval procedures, and all-around financing to offer lucrative bioenergy funds on the capital markets alongside solar and wind funds through its subsidiary voltwerk AG. The first fund of four plants for a volume of over 10 million euros is to be brought out within the course of this year. Bio-power plants produce biogas through the fermentation of liquid manure and moist organic raw and waste materials, which is then used to generate electrical and thermal energy. "The Conergy Group’s global distribution channels offer ideal growth prospects for achieving market leadership in bioenergy just as in the field of solar energy. It is a future-oriented technology for an intelligent energy mix that offers potential for sustained growth”, said Mr. Calefice, President of MAT-tec Engineering GmbH.

About Conergy

Conergy is Germany’s leading solar company as the top manufacturer and seller of components and systems for generating electricity, heat, and cooling from renewable energy sources. The Conergy Group serves customers all over the world through its now 15 different country divisions. The company’s recent entry into the U.S., Australian, Portuguese, and Mexican markets will give it access to new customers and contribute substantially to Conergy revenue and earnings already in 2005. Through new product development and investment into its international distribution networks, Conergy is set to continue to gain market share in 2005 in the world’s most lucrative solar markets, as production capacity is being expanded drastically at the company’s plants located in Rangsdorf near Berlin, in Landshut, and in Bad Vilbel near Frankfurt. Product development is based on the varying needs of international customers for electrical power, heating, or cooling derived from sunlight, one of the reasons behind Conergy’s being named Germany’s most innovative small- to midcap firm in March of this year.

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Contact at Conergy:

Thorsten Vespermann
Head of Corporate Communications
Anckelmannsplatz 1
20537 Hamburg
Germany

Phone: +49 (0)40 23 71 02-171
Fax: +49 (0)40 23 71 02-148
E-mail: press@conergy.com

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