Xantrex Marks 20 Years in the Industry

Xantrex Technology Inc. is celebrating its 20th anniversary this spring. The company started in 1983 as a provider of programmable power supplies with eight people on staff and revenues of CDN$300,000.

Burnaby, British Columbia – April 11, 2003 [SolarAccess.com] Now a world leader in advanced power electronics, Xantrex recorded annual revenues of CDN$165 million in 2002, and has close to 600 employees in Canada, the U.S., Europe and Latin America. Prior to 1998, the Xantrex product line consisted primarily of programmable power products used to develop and test electronic equipment. The company has since broadened its offerings to include power electronic and control products for Renewable Energy solutions such as solar and wind; backup power for homes and small businesses, auxiliary power systems in boats, RVs, heavy duty trucks and cars; portable power systems; and programmable power for precision equipment such as semi-conductor manufacturing, oil services and medical equipment. “When I joined Xantrex four years ago, I saw a small company with good technology and talented people in an industry with excellent growth potential,” said Mossadiq Umedaly, Xantrex chairman. “In order to serve growing markets and customers with cost effective power solutions, I saw an opportunity to consolidate a highly fragmented power electronics industry. We have created a one-stop shop with the right technology and product development expertise, a broad product line, cost-effective manufacturing, sales, and service capabilities.” Xantrex has embarked on a series of acquisitions since 1998: the company purchased Statpower Technologies in 1999; Trace Engineering, Trace Technologies and Heart Interface in 2000. Xantrex now serves a diverse customer base in Distributed, Mobile and Programmable power markets. “There is a strong interest in power electronics systems, which we expect to continue for decades as society becomes increasingly dependent on electronic devices and the need for alternative energy sources grows,” said Umedaly. “The opportunities for our technology and products are significant and the future looks bright. We are growing even in this difficult economy.”
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