New Horizons Ahead (NHOA), a provider of energy storage systems and electric vehicle solutions, said a few days ago that it had an unparalleled market performance in the first half of this year, despite an increasingly complex global situation and an industry downturn.
NHOA, formerly known as ENGIE EPS, was acquired by TCC last year.
NHOA has set a goal of growing its business tenfold by 2025, with specific measures including stationary battery energy storage systems (BESS), electric vehicle (EV) charging infrastructure, fast electric vehicle chargers, and related areas such as microgrids system integration and turnkey supply.
The Italy-based NHOA has released its unaudited financial results for the first half of 2022, showing that the company's energy storage global business line (GBL) sales in fiscal 2021 were €15.9 million, compared to 2022 15.5 million euros in the first quarter.
Revenue from the energy storage business doubled in fiscal 2021 compared to the previous year, and in the first half of 2022, NHOA reported energy storage system sales of €73 million.
The company's energy storage projects under development have reached 1,043MWh, including two turnkey supply contracts for 292MWh and 751MWh of signed backlog contracts. However, the company has not made much progress in this area this year, with only one 30MWh contract signed with a customer in Peru in the first quarter of this year, and no major contracts in the second quarter.
The company said its energy storage market opportunity will increase to 1.031 billion euros from 764 million euros in 2021. Meanwhile, consolidated sales across all its businesses jumped from 7.2 million euros in the first half of 2021 to 82.2 million euros in the first half of this year.
