Inion Software, a Lithuanian start-up providing innovative solutions for monitoring solar power plants and smart battery management, continues to show very strong growth. In the first half of 2022, the company more than tripled its turnover compared to the same period in 2021. It is expected that turnover could exceed 360,000 euros by the end of this year.

In the first half of 2022, Inion Software’s revenues amounted to €134 thousand, an increase of 348% compared to the first half of 2021, where revenues were €38.5 thousand.

“Our successful growth is mainly driven by the commitment of the European Union (EU) to the development of solar power plants. Thanks to EU investments, the installation of solar power plants has become much easier and more and more solar parks are being built, who then buy the equipment we offer. Every year, more and more companies are turning to sustainable alternatives.

Second, there is a strong desire for countries to be energy independent from Russia. Third, we grow successfully because we ourselves work purposefully and consistently. We focus more on foreign markets. For example, we seek and find cooperation opportunities with world leading companies producing hybrid solar power plants, such as Abora Solar. They use our equipment to monitor the production of hot water or electricity”, explains Šarūnas Stanaitis, CEO of Inion Software.

The Lithuania-based company’s overseas sales accounted for 20% of its sales in the first half of this year. It is expected that this figure could soon double.Given the demand for solar power plant monitoring and smart battery management solutions, as well as the expansion of solar power plants, Inion Software also expects revenue to reach around €360,000. by the end of 2022.

Inion Software is a company that develops its own loggers – small devices with communication protocols that connect to solar power plants. Devices connect to inverters, sensors and network analyzers, sending data to Inion Software’s servers. This data is structured, mapped, and then presented to the solar plant manager via its user interface to provide an overview of the plant’s production. The company also develops intelligent battery management systems.