Rendering of large-scale BESS project NHOA will execute for parent company Taiwan Cement Corporation. Image: NHOA.
Energy storage and electric mobility solutions provider New HOrizons Ahead (NHOA) has increased its revenues from energy storage tenfold in its 2022 full year from a year earlier.
The company, headquartered in Italy and owned by Taiwan Cement Corporation (TCC) since mid-2021, reported 2022 revenues of €165 million (US$178.83 million), which is above the upper end of its guided range of €140 million to €160 million, according to its results statement.
While the company has e-mobility and infrastructure divisions alongside energy storage, it was energy storage that NHOA CEO Carlalberto Guglielminotti described as its “growth engine”.
While 2021 had seen a doubling of its energy storage revenues compared to the previous year, 2022 represented…