01/06/2021

1 June 2021
1 June 2021, Comments Comments Off on Dometic announces another acquisition and sets target to reduce CO2 emissions from operations by 50% by 2030
Dometic announces another acquisition and sets target to reduce CO2 emissions from operations by 50% by 2030

Dometic has announced that it has acquired Zamp Solar, a manufacturer in North America of mobile solar power solutions for the outdoor market. It has also stated that it aims to decrease CO2 emissions from operations by 50 percent by 2030 and increase energy efficiency and transition to renewable energy sources in order to further reduce the carbon footprint of mobile living.

The acquisition of Zamp Solar broadens Dometic’s position in the fast-growing market for mobile solar
power solutions. This is the fifth acquisition Dometic has announced this year. The recent acquisitions were Front Runner Vehicle Outfitters, a South Africa-based global provider of products for the outdoor market, and Enerdrive, an Australian-based provider of mobile power products for the outdoor market.

In 2020, Zamp Solar’s sales were approximately USD 14 million with a good operating margin and strong organic sales growth. Since its founding in 2010, Zamp Solar has rapidly become one of the leading North American manufacturers of innovative, high-quality mobile solar power solutions. Based in Bend (Oregon) and with more than 400 active customers, Zamp Solar serves several vertical end markets in the outdoor space. Zamp Solar’s products are known for their high-quality and recycled contents, and include solar panels, charge controllers, power boxes and various solar kits. Zamp Solar has approximately 65 employees.

Expansion in the fast-growing market for mobile power solutions is a strategic priority for Dometic. The market
demand for sustainable and effective off-grid mobile power solutions is rapidly increasing as more and more
people spend time outdoors using a vehicle or boat as the base. This acquisition strengthens Dometic’s
presence, know-how and distribution network for mobile solar power solutions in North America.

“We are excited to welcome the Zamp Solar team to Dometic. Zamp Solar complements our earlier
acquisitions in mobile power solutions and brings unique in-house design and manufacturing expertise. In addition
to positioning Dometic at the forefront of vehicle electrification trends, mobile power solutions also address the critical need for people using powered products when experiencing the outdoor lifestyle. Our strategy for profitable expansion in Mobile Living is built on a combination of organic and acquisitive growth. This is our fifth announced acquisition this year and our pipeline of potential future acquisitions remains strong,” says Juan Vargues, President and CEO of Dometic.

Dometic aims to increase energy efficiency and transition to renewable energy sources in order to further reduce the carbon footprint of mobile living. The target has been set to decrease CO2 emissions from operations by 50 percent by
2030.

Dometic is committed to driving sustainability in the industry. Energy efficiency in production and the product use
phase have long been key environmental targets that contribute to reducing the climate impact of Dometic
operations and products.

Dometic has developed a climate roadmap that expands impact monitoring and identifies reduction activities.
A long-term target to reduce CO2 emissions by 50% by 2030* has been set and was communicated as part of
the Q1 2021 interim report. Clear milestones and corresponding reduction targets are also defined for
2021 and 2024.

Eva Karlsson, EVP and Head of Group Operations says, “In order to reach these targets, Dometic aims to
increase the share of energy from renewable sources over the next few years. Starting in 2021, operations
across Germany will have fully renewable electricity, which is expected to reduce CO2 emissions by 40
percent in EMEA.”

To obtain a more complete picture of the Group’s climate impact, the company has initiated a footprint inventory of
goods transportation, in addition to the previous reporting and monitoring represented by energy and
electricity used in operations.

Juan Vargues, President and CEO at Dometic says, “To show our commitment, we have started to communicate
the progress towards our sustainability targets on a quarterly basis starting from the Q1 2021 interim report.
“In addition, we have implemented sustainability targets in our Long Term Incentive program for management.
Their targets are set on CO2 emission reductions, injury rate and percentage of female managers.”

Dometic is a global market leader in branded solutions for mobile living in the areas of Food & Beverage,
Climate, Power & Control and Other Applications. Dometic operates in the Americas, EMEA and Asia
Pacific, providing products for use in recreational vehicles, trucks and premium cars, pleasure and
workboats, and for a variety of other uses. It sells its products in approximately 100 countries and has a global
distribution and dealer network in place to serve the aftermarket. Dometic employs approximately 6,500
people worldwide, had net sales of more than SEK 16.2 billion (USD 1.8 billion) in 2020 and is headquartered in
Stockholm, Sweden.