GARO markets turnkey solutions for electrical installations and solar power, and holds more than half of the Nordic EV charger market.
Gnosjö-based GARO announced their initial public offering on Nasdaq Stockholm in 2016, and the share has performed well since. The company’s strong position in EV chargers, combined with the marketing of electrical products for installations and new-build properties, has garnered interest from investors. GARO holds more than half of the Nordic EV charger market, and the business segment is growing.
Complete solutions for electrical installations
”Our 75-year-old legacy gives us the competence to provide customers with complete solutions that simplify electric installations, saving time and money in the process. Such a solution consists of a standard platform supplemented with electrical products (combination units, circuit breakers, meters and so on) to meet specific requirements from the customer”, says Stefan Jonsson, CEO of GARO.x
”As the rate of construction increases in Sweden, the need is growing for such customized turnkey solutions. Previously, electricians built the distribution boards on site with loose components. Now the most turnkey version is supplied for direct installation. At the same time, the distribution boards receive even more service content, for example, media solutions. This is a growing trend, we will see even more solutions in future. Controlling, measuring, telephony and also alarms. Both safety alarm and burglar alarms. The end customers want complete solutions, without trouble”, Stefan says.
Stefan Jonsson explains that many of the products contribute to a better environment. Examples of this include:
- Temperature controlled car heater sockets. Saves both the car and the environment, as the engine is heated and reduces carbon dioxide emissions.
- The control and measurement system KNX, which reduces power consumption in e.g. homes.
- GARO delivered its largest order ever in solar energy in 2016. The order comprised 1,476 solar panels for the new build of Albyberg Business Park. Solar panels are sourced from a carefully selected European manufacturer. GARO is building a complete concept around solar panels and is marketing this as a complete package solution which in addition to the panel also includes an inverter, DC power cable, DC switch and DC enclosures.
- As early as 2013, GARO was first to launch the market’s most energy-efficient and climate-smart LED working light for demanding environments. When copies began appearing, GARO responded in 2016 by launching a new, even better version, GARO BALL 2.0, which has provided a new market advantage. With improved light spread, higher reliability, lower energy consumption, better lighting characteristics and totally maintenance-free, it has a service life of 60,000 hours, equivalent to about 7 to 8 years of normal use.
- EV Charging posts. GARO is fully involved when the infrastructure for electric vehicles is expanded. The number of electric vehicles sold doubles every year, and the company believes the technology’s break-through is imminent. Replacing the vehicle fleet takes time, but the shift has begun in the automotive industry and the segment will continue to grow.
”The previous manufacture of hundreds of thousands of car heater units and sockets has provided a broad fundamental knowledge of what is required for a product to cope with the Nordic climate. As early as 2006, GARO began investing in vehicle chargers and during Almedalen Week 2008 the company presented the first charging station for cars. Since then, there have been further developments and the range of products has been substantially expanded: from a simple 3.7 kW home charger, to have at home in the garage, to the high-efficiency 150 kW station that can fast-charge a large bus”, Stefan Jonsson says.
”The Home Charger GHL has already become a standard product at electrical wholesalers. The Home Charger GHL is often found at tenant-owner associations, large workplaces and in the home. In response to market demand, a new stand was recently launched for the GHL. The new stand makes it very easy to convert what was a car heater unit post into a charging station”.
”The high-efficiency fast-charger was presented in 2016. The charger’s power, up to 150 kW, enables fast-charging of buses and other large vehicles. It can also charge passenger cars designed to handle such power”.
”The new public charging station LS4 was presented for the first time in 2016, and sales have exceeded expectations. Its elegant design, smart functions, clear monitoring and simplicity of installation, maintenance and service has attracted widespread interest from energy companies, parking companies, large property owners, the public housing sector, municipalities and regions.”
”We have a strong market position in the Nordic countries, and we follow the development of battery electric vehicles and hybrids carefully. Beside the charging technology, we are working on market-leading payment solutions and smart systems to monitor and control the charging stations. We have also developed a system for solar-powered charging. Our 5 kW solar package can power a normal elecric car for 28 000 km in one year”, Stefan Jonsson says.
The article was published in September 2017.