About REC Group
REC Group is a company based in Sandvika (Norway) founded in 1996 was acquired by Reliance New Energy Solar in October 2021. It operates as a Direct-to-Consumer (D2C), and Reseller / Distribution. REC Group offers products and services including REC Alpha Pure-RX, REC Alpha Pure-R, REC Alpha Pure 2, and REC Alpha Pro M. REC Group operates in a competitive market with competitors including NexWafe, Hanwha, Pennar, NorSun and Daqo New Energy, among others.
- Headquarter Sandvika, Norway
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Sectors
Energy & Utilities
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Rec Solar Holdings As
- Date of Incorporation 27 Jul, 2012
- Jurisdiction Sector -45, Haryana, India
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Annual Revenue
$364.47 K (USD)-12.08as on Mar 31, 2022
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Net Profit
$24.4 K (USD)-46.77as on Mar 31, 2022
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EBITDA
$145.05 K (USD)19.17as on Mar 31, 2022
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Latest Funding Round
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Investors
European Union
& 1 more
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Employee Count
Employee Count
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Acquired by
Reliance New Energy Solar
(Oct 10, 2021)
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Products & Services of REC Group
REC Group offers a comprehensive portfolio of products and services, including REC Alpha Pure-RX, REC Alpha Pure-R, REC Alpha Pure 2, and REC Alpha Pro M. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
High-efficiency solar panels are offered with HJT technology.
Solar panels are provided with lead-free HJT technology.
Efficient solar panels are built using HJT technology.
Powerful solar panels are designed with HJT technology.
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Sales and Marketing
14 people
Software Development Team
10 people
Leadership Team
7 people
Senior Team
6 people
Finance and Accounting
6 people
Human Resources and Administration
5 people
Global Team
2 people
Principal Team
2 people
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Funding Insights of REC Group
- Total Funding Total Funding
- Total Rounds 1
- Last Round Last Round
- First Round First Round
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2022 | Amount | Grant - REC Group | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in REC Group
REC Group has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include European Union and Reliance New Energy Solar. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability
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Founded Year | Domain | Location | |
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Polysilicon solar panels are manufactured by Reliance New Energy Solar.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by REC Group
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - REC Group
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Rec Group Comparisons
Competitors of REC Group
REC Group operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as NexWafe, Hanwha, Pennar, NorSun and Daqo New Energy, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Solar PV wafers are manufactured and supplied to cell producers.
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| domain | founded_year | HQ Location |
Manufacturer of solar cells, modules, and other related components
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| domain | founded_year | HQ Location |
Precision-engineered products and building solutions are manufactured.
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| domain | founded_year | HQ Location |
Mono-crystalline silicon wafers are supplied for the solar energy sector.
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| domain | founded_year | HQ Location |
Polysilicon and silicon wafers are manufactured for solar applications.
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| domain | founded_year | HQ Location |
Homeowners are connected to solar panel installers via a marketplace.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Rec Group
Frequently Asked Questions about REC Group
When was REC Group founded?
REC Group was founded in 1996 and raised its 1st funding round 26 years after it was founded.
Where is REC Group located?
REC Group is headquartered in Sandvika, Norway.
What is the annual revenue of REC Group?
Annual revenue of REC Group is $364.47K as on Mar 31, 2022.
What does REC Group do?
REC Group is established as a prominent manufacturer of solar panels since 1996. The company is focused on the renewable energy sector, specializing in high-efficiency solar technology such as Heterojunction (HJT). Products are manufactured in Singapore, ensuring quality through advanced automation. Solutions are provided for both residential and commercial applications, supported by world-class warranties like REC ProTrust. Commitment to sustainability is emphasized through ethical manufacturing and equitable work practices. A global presence is maintained with offices in multiple regions including Europe, Asia, and the Americas.
Who are the top competitors of REC Group?
REC Group's top competitors include NexWafe, Pennar and Astronergy.
What products or services does REC Group offer?
REC Group offers REC Alpha Pure-RX, REC Alpha Pure-R, REC Alpha Pure 2, and REC Alpha Pro M.
Who are REC Group's investors?
REC Group has 2 investors. Key investors include European Union, and Reliance New Energy Solar.