For more information, contact:
|Richard Roth, Vice President, Marketing
Advanced Energy Industries, Inc.
Advanced Energy Announces Expansion of Operations in Ontario, Canada
Increases Customer Support and Expands Manufacturing Capacity to Meet Growing Demand From Country’s Burgeoning Solar Industry
FORT COLLINS, Colo., October 4, 2010—Advanced Energy Industries, Inc. (NasdaqGM: AEIS), today announced a strategic expansion of its operations in Ontario, Canada. The expansion includes the creation of a new legal entity in Ontario, Canada to provide local support to its customers in the region. In addition, the company has formed a strategic relationship with a global leader in electronics manufacturing services based in Ontario to manufacture the Solaron® and PV Powered™ PV grid-tie inverter products in Ontario. This new agreement will expand Advanced Energy’s worldwide production capability to meet growing demand for the company’s market-leading lines of residential, commercial, and utility-scale inverters.
The new Ontario facility adds to Advanced Energy’s growing infrastructure in the region, and supports the company’s commitment to one of the fastest growing solar markets in the world. Initially, the new facility will provide Canadian customers with sales and customer support services, and will ultimately include field service and application engineering resources. The regional manufacturing capability will also provide Canadian customers access to Solaron and PV Powered inverters while meeting the requirement for local content by the Ontario government's feed-in-tariff (FiT) program under the Green Energy Act.
“This expansion into Canada reflects our globalization strategy driven by growing demand for Advanced Energy inverter solutions, and marks our commitment to customers in this area. The Canadian market is expanding rapidly and is a key element of our growth strategy,” said Dr. Hans Betz, chief executive officer of Advanced Energy. He continued, “Our chosen supplier’s proven manufacturing excellence and reputation for quality will allow us to provide our customers in Ontario with the industry’s most advanced PV inverter technology and expertise for residential, commercial, and large-scale grid-tie utility applications.”
The company expects to start shipping locally manufactured products from Canada in the fourth quarter of 2010 and has the capability to ramp capacity as the market expands. To further broaden local content, Advanced Energy’s 1 MW and 2 MW medium-voltage integrated inverter solutions will also be manufactured in Ontario through a separate local collaboration.About Advanced Energy
Advanced Energy (NasdaqGM: AEIS) is a global leader in innovative power and control technologies for high-growth, thin-film manufacturing and solar-power generation. Advanced Energy is headquartered in Fort Collins, Colorado, with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com