BeeIN wants to implement an innovative concept of heat pumps with high energy efficiency

BeeIN is working on the implementation of an innovative concept of heat pumps with high energy efficiency, which may ultimately bring significant competitive advantages and ensure a strong position in the renewable energy sector, informed President Michał Sochacki.

“The second quarter of 2023 brought stabilization in the RES sector. In the period from April to June, we recorded increases in sales of photovoltaic panels and heat pumps in each subsequent month. However, we can see that the market of which we are a part is moving towards professionalization and creating innovative solutions. That is why at BeeIN we are working on implementing an innovative concept of heat pumps with high energy efficiency, which may ultimately bring us significant competitive advantages and ensure a strong position in the RES sector,” said Sochacki, quoted in the release.

In the second quarter of this year the company applied for a grant for the implementation of innovations in the field of heat pumps and the construction of a research and development and production base in the SMART competition implemented under the FENG Programme. At the same time, BeeIN, together with scientists from the Warsaw University of Technology, conducts research and development works aimed at developing innovative heat pump technologies and developing solutions that reduce energy consumption and environmental impact.

“We look boldly into the future, but at the same time we keep our finger on the pulse and efficiently respond to current market needs. One of them was the recent expansion of the product range with products from new suppliers, which translated into obtaining approximately 5% of revenues in Q2 2023. In the near future, we intend to continue this direction, expanding the offer with products from new energy storage suppliers for customers retail and business, as we expect a dynamic development of this segment,” summed up the president.

BeeIN published “record results” for the second quarter of 2023. It achieved nearly PLN 17.23 million in sales revenue (vs. PLN 4.79 million y/y), which is an increase of almost 260%, and increased its net profit from 0. PLN 45 million to PLN 0.84 million y/y, it was also announced.

“According to the latest report of the Institute of Renewable Energy, at the end of the first quarter of 2023, the total photovoltaic capacity exceeded 13 GW. The Institute’s current forecast assumes doubling the installed capacity over the next 3 years and reaching 26.8 GW of power from PV installations in the Polish energy system at the end of 2025. If these forecasts come true, Poland will join the top three European Union countries in terms of total installed capacity.

BeeIN is a provider of solutions listed on NewConnect and a direct representative of global producers of renewable energy components.

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