FuturaSun, an Italian company among the leaders in the production of high-efficiency photovoltaic (PV) panels, is expanding its manufacturing capacity with a new factory announced this July for Taizhou city in east China’s Jiangsu province.
The company based in Cittadella (Padua), Italy announced that the new plant will guarantee a production capacity of 500 MW per year. The project will soon expand its production capacity to 1 GW.
Alessandro Barin, CEO and founder explained: “our new silk stringing machines are designed in Italy and can double output with only half space requirement.”
The new silk stringing machines have been developed in Italy by the company team in collaboration with a spin-off company of the University of Padua. “FuturaSun is the only European company that has managed to make its way in the Chinese manufacturing market,” highlighted Barin. “It is also the first and only Italian company also producing for the local market.”
The new FuturaSun plant is located in the Taizhou industrial district, located in Jiangsu province, just north of Shanghai and 200 km from the other Maanshan manufacturing facility. Several companies in the PV sector are based in this area, ranging from component manufacturers to giant panel manufacturers.
One of the reasons why FuturaSun settled in the highly competitive Chinese manufacturing market lies in the fact that Alessandro Barin, leader of the company, has been working in the two countries for 20 years, combining the experience and knowledge of its PV company with the incredible opportunities for economic development provided by the Chinese market.
“In the context of the world dynamics between Europe and China and particularly in this very sector the examples of successful investments for the production of modules are rare. The opening of the new factory proves once again that FuturaSun is a European company that knows how to maintain its business and grow by operating in bi-cultural dynamics,” explained Barin.
In the first six months of this year the company recorded a 70 percent increase in turnover. FuturaSun was founded in 2008 by a team of PV managers in Veneto, Italy’s hub of the PV industry. The commercial activity of the company began in 2010, when the sector in Italy gave the first signs of downfall. While many of the once big names disappeared from the PV scenario, FuturaSun moved on, at first in small steps and then at ever increasing speed.
FuturaSun currently works with more than 70 countries, with a double-digit growth rate. The turnover grew from 339 thousand euros in 2015 to 11.2 million at the end of 2017, with an EBITDA from 85,000 euros to more than 417,000 euros in 2017.
(Source: Class Editori S.p.A)
FuturaSun, production of PV panels
Turnover in 2018: 12.8 million euros
Alessandro Barin, CEO
Nicola Baggio, technical director
Riva del Pasubio, 14 - 35013 Cittadella (Padua) - Italy
Tel. +39 049 5979802 - email: [email protected]