Inion Software, a Lithuania-based start-up for innovative solar power plant monitoring solutions and smart battery management, continues to show very strong growth. In the first half of 2022, the company more than tripled its sales revenue compared to the same period in 2021. It is forecast that sales revenues could exceed EUR 360,000 by the end of this year.
In the first half of 2022, Inion Software's revenues amounted to EUR 134 thousand, an increase of 348% compared to the first half of 2021, when revenues were EUR 38.5 thousand.
“Our successful growth is primarily driven by the European Union's (EU) commitment to the development of solar power plants. Thanks to EU investment, the installation of solar power plants has become much easier and more and more solar parks are being built, which then buy the equipment we offer. Every year, more and more companies are turning to sustainable alternatives.
Secondly, there is a strong desire for countries to be energy independent from Russia. Thirdly, we are growing successfully because we are working purposefully and consistently ourselves. We are increasing our focus on foreign markets. For example, we are looking for and finding cooperation opportunities with world-leading companies producing hybrid solar power plants, such as Abora Solar. They use our equipment to monitor hot water or electricity production,” says Šarūnas Stanaitis, CEO of Inion Software.
The Lithuania-based company's foreign sales accounted for 20 per cent of its sales in the first half of this year. It is expected that this figure could soon double.Taking into account the demand for solar power plant monitoring solutions and smart battery management, as well as the expansion of solar power plants, Inion Software also expects sales revenues to reach around EUR 360,000 by the end of 2022.
Inion Software is a company that develops its own loggers – small devices with communication protocols that connect to solar power plants. The devices connect to inverters, sensors, and network analysers, sending data to Inion Software's servers. This data is structured, mapped, and then presented to the solar plant manager through its user interface to provide a broad picture of the plant's generation. The company also develops smart battery management systems.
