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Allterco еnters heating control market

DGAP-News: Allterco JSCo / Key word(s): Product Launch
16.12.2021 / 10:00
The issuer is solely responsible for the content of this announcement.

Allterco еnters heating control market

Sofia / Munich, 16 December 2021 – Allterco JSCo (ticker A4L / ISIN: BG1100003166) (“Allterco”), a provider of IoT and smart home products based in Sofia, Bulgaria, is entering a new market segment in home automation with the launch of the latest addition to its award-winning Shelly product line by Allterco Robotics. Shelly TRV – a next-generation smart thermostatic radiator valve for temperature control and heating management – is a smart home product at a competitive price, challenging the major international brands in this market.

With more than 4 million devices in more than 1 million households, Allterco is now also focusing on reducing heating costs. By introducing Shelly TRV, Allterco is entering a market potential of more than 200 million new Shelly TRV compatible radiators in Europe alone. With energy prices rapidly rising, customers are increasingly looking for innovative smart home solutions that will help them optimize their spending and ensure energy usage in the most efficient way. Shelly TRV allows users to optimize their heating usage and save on energy costs significantly. With less than 5% penetration of this market with smart solutions, significant growth opportunities are opening up for Allterco with Shelly TRV.

Shelly TRV is a Wi-Fi-operated device that does not require a hub and features a fully rechargeable battery with over 2 years of battery life. With smart features such as custom timers and schedules, Shelly TRV allows homeowners to choose radiator settings based on the hour of the day from anywhere in the world at any time. That way Shelly TRV can maintain lower heating levels during the day while there is nobody at home, and increase the heat half an hour before homeowners come back from work to ensure a cozy atmosphere with no energy loss. Shelly TRV uses AI to measure room temperature even though the device is close to the heating source, and in addition customers can use any connected temperature sensor, allowing intelligent heat adjustment and preventing unnecessary energy usage.

“We are impressed by how much interest there is in this device. In just a few hours, the first batch of pieces was pre-purchased. This demonstrates impressively that Allterco’s biggest strength is listening to our customers and providing solutions that suit their needs. In times of pandemic-related challenges and uncertainty, any increase in household costs can be concerning, and we certainly noticed that. After an extremely successful year of numerous product launches and the secondary listing of Allterco JSCo on the Regulated Market of the Frankfurt Stock Exchange, with Shelly TRV we have once again introduced a product that promises high revenue contributions in the coming years and pays into our strategy of becoming one of the leading providers of smart home solutions,” says Dimitar Dimitrov, CEO of Allterco.

About Allterco
Allterco JSCo is a technology holding company that stands for innovation through the development, manufacture, and distribution of high-quality IoT products. End users and their needs are always at the heart of development. Allterco was founded in Bulgaria and works with a team of young, talented developers who are dedicated to producing competitive and user-friendly products. The Group consists of 5 subsidiary companies and has offices in Bulgaria, Germany, China and USA. Allterco’s products have already conquered over 100 markets. Allterco JSCo has been listed on the Bulgarian Stock Exchange since December 2016 and on the Frankfurt Stock Exchange as of November 2021 where its shares are traded under GSIN A2DGX9, ISIN BG1100003166, ticker A4L.

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16.12.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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