Qcells invests in energy platform LYNQTECH

Qcells acquires 66 percent of LYNQTECH GmbH, a subsidiary of enercity AG, to further its focus as a full-service provider of clean energy solutions for residential and commercial end users.

[Berlin, Germany, July 21, 2022]. On July 14, 2022, Hanwha Q CELLS GmbH acquired 66 percent of Hanover-based LYNQTECH GmbH. Qcells thus becomes the main shareholder of the digital cloud platform company founded in 2020 as a subsidiary of enercity AG, one of the largest municipal energy service providers in Germany. The parties have agreed not to disclose the purchase price. The transaction is subject to approval by the antitrust authorities. This strategic investment will result in synergies for both partners, particularly in energy solutions relating to solar energy, electromobility and smart technologies.

While LYNQTECH benefits from the financial strength of the Hanwha Group and Qcells' international footprint, Qcells strengthens its competencies in software and IT-based energy solutions with this investment and thus its role as a full-service provider of clean energy solutions beyond the manufacturing of solar cells and modules.

LYNQTECH has been supporting the energy industry in its digital evolution since 2020. With a modular cloud platform, LYNQTECH offers energy providers digital solutions to optimize their sales. Sales-relevant processes of energy companies are digitized and networked from start to finish: from signing the contract to customer care and billing for all services purchased by the end customer. At the same time, acquisition, service and operating costs are reduced.

As one of the world's leading solar companies, Qcells offers the full spectrum of solar products and applications, retail energy sales and self-sufficient energy solutions. Residential and commercial customers receive all components needed for an independent sustainable energy supply from a single source. In the future, Qcells will manage its energy trading business via LYNQTECH and drive the linking of digital processes for its existing customer business. The platform's scalable flexibility, fully digital processes and 360° customer view enable efficient customer service and the realization of new business models.

“We deliberately chose a partner with roots outside the classic energy environment and who is internationally active. We want to enable the kind of dynamism in energy industry sales that has long been a reality in other sectors. ", said enercity CEO Dr. Susanna Zapreva.

"Our portfolios complement each other strategically in an optimal way," explains Moon Cha, CEO of Hanwha Q CELLS GmbH. "With LYNQTECH as our technical platform, we can prospectively open up further markets in European countries and worldwide. Given the increasing importance of smart energy platforms worldwide, the qualitative and quantitative growth of our company through this investment will be an important impetus for Qcells' growth as a global clean energy solutions company." LYNQTECH GmbH will remain as an independent company. The current managing director, Mandy Schwerendt, will continue in her role. All other employees will also remain on board. There are plans to further expand the number of experts.

LYNQTECH is an innovative technology company that supports the energy industry in its digital evolution with a competently staffed team. With its modular cloud platform for energy suppliers, LYNQTECH provides groundbreaking solutions for the energy sales of the future. Sales-relevant processes in energy supply companies are networked from start to finish ("end-to-end"): from the signing of the contract to customer support to the billing of all products purchased by the end customer. The sales business of energy supply companies is optimized with the help of digital solutions, creating positive customer experiences and reducing acquisition, service and operating costs in parallel. LYNQTECH was founded in 2020 and is managed by Mandy Schwerendt. www.lynq.tech

About Qcells - Completely Clean Energy
Qcells is one of the world's leading clean energy companies. As a complete provider of clean energy solutions, Qcells offers its customers the full range of products and services required for an independent sustainable energy supply: high-performance, high-quality photovoltaic products from solar modules to smart storage and wallboxes, attractive supplier contracts and service packages for green power, smart home products, and software-based energy solutions. With over 20 years of experience and a global business network, Qcells provides customers with outstanding services and long-term partnerships. The company is headquartered in Seoul, South Korea (Global Executive) and Thalheim, Germany (Technology & Innovation) and has manufacturing facilities in the U.S., South Korea, Malaysia and China. Further information: www.q-cells.com

About enercity – Driving the digital energy world of tomorrow
The enercity AG, located in Hanover (Lower Saxony, Germany) provided sustainable und smart energy solutions. With annual revenues of about € 5.0 billion (2021) and 3,000 employees the enercity-group enercity AG is one of the largest municipal energy service providers in Germany. enercity supplies about 1,000,000 people with electricity, natural gas, heat, and drinking water, as well as services including electric mobility, energy efficiency, contracting solutions, telecommunications, and smart infrastructure. enercity’s key objectives include life quality and the best energy solutions for our customers. Further information: www.enercity.de

Safe-Harbor Statement
This press release contains forward-looking statements. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and Qcells’ operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Except as required by law, Qcells does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Hanwha Q CELLS GmbH
Corporate Communications
Oliver Beckel Tel: +49 (0)3494 6699 22148
E-mail: presse@q-cells.com

Enercity AG
Carlo Kallen
Tel: 0511/4302161
E-mail: carlo.kallen@enercity.de