A picture of Simone Massaro and Joumana Hosri

BaxEnergy and SacotelZnshine sign a strategic alliance to lead the market in Middle-East

Catania (Italy), March 14th, 2024 – BaxEnergy, a leading provider of Renewable Energy Management Systems (REMS), is proud to announce the establishment of a groundbreaking partnership with SacotelZnshine, a division of the renowned Fernand Hosri Group. This strategic alliance reflects our shared commitment to advancing sustainable energy solutions worldwide.

Founded in 1966 by Fernand Hosri, the Fernand Hosri Group is a family business which operates in more than 26 markets, including telecommunication, security, FMCG, insurance brokerage, consultancy, publishing as well as office equipment and consumable distribution.

In 2016, the Group decided to enter the Renewable Energy sector, representing one of the early movers in the Middle East market. In June of the same year, the Fernand Hosri Group became an active member in the UN Global Compact (UNGC) and has succeeded in integrating the Compact’s 10 principles into its business strategy, culture, and daily operations. The Group has survived the proof of time for many generations, thanks also to its governance development strategy, that has established a clear roadmap for entering the business. Every generation is exposed to the business and encouraged to participate. If they choose to join the business or not, young family members learn about being responsible owners, and the obligations that accompany their rights as stakeholders.

Joumana Hosri, CEO of SacotelZnshine and board member at the Fernand Hosri Group, is a prominent figure in the renewable energy sector, who played a pivotal role in forging this partnership. She is the daughter of the founder of the Group and part of the 3rd generation of the family business, together with her brother Riccardo Hosri and her sister Karina Hosri.

Collaborating with other family businesses in Europe (and especially Italy) connected the company to the renewable energy boom happening there. Seeing the success of these European companies, Sacotel’s leadership realised the importance of adding this vertical to its portfolio. Joumana today is a driving force across the group’s multifaceted ventures, and she currently oversees the Renewable Energy arm of the company.

Her visionary leadership has been recognized through prestigious awards such as the “Visionary Leader of the Year” at the Construction Innovation Awards in 2019 and the “Woman in Solar” by MESIA in 2021, becoming the first woman in the private sector to receive this acknowledgement.

More recently, she won the “Renewable Energy Pioneer” award, and she also received the nomination for “Sustainability Leader of the Year” at the Sustainability Innovation Awards 23 in Dubai, further testimony of her unwavering pursuit of sustainability and innovation. These accolades position her at the forefront of transformative change in the industry.

Joumana Hosri’s leadership and commitment to social responsibility is also exemplified by her company’s membership in the United Nations Global Compact and her active involvement in sustainability initiatives. Like a true leader, she firmly believes in the value of human capital and places a strong emphasis on building long-term relationships with stakeholders based on trust and honesty.

“BaxEnergy provides one of the best software existing in the market to improve performance of renewable assets and we collaborate with companies who absolutely need that software. This is why we decided to partner with Bax: every time we make a new deal or enter a new partnership, it has to be a win for us, a win for our clients, a win for the supplier and a win for the planet!” – said Mrs. Hosri.

Sacotel boasts a celebrated legacy of innovation and excellence in renewable energy. Leveraging their local connections and understanding of customers, together with BaxEnergy’s extensive offering, we can make a very good team to lead the market. The key thing to do this is, as highlighted by Joumana, speaking not just the same language but the same culture!

Dr. Simone Massaro, CEO of BaxEnergy, stated: “Meeting Joumana and her brother Riccardo was an enlightening experience. Their incredible heritage comes with founding values that are unexpectedly similar to ours. This partnership is the perfect combo: a trustworthy partner, that will open us to new incredible opportunities of growth.”

BaxEnergy, renowned for its expertise in innovative software solutions for energy and beyond, aligns seamlessly with Sacotel’s mission to promote a more sustainable future. As highlighted by Joumana Hosri, our asset performance management platform, Energy Studio Pro®, stands as one of the best-in-class solutions in the market to help utilities, IPPs, investment funds, asset owners & asset managers optimize the performance of their renewable energy assets, increasing energy savings and contributing to fight climate change.

The new partnership between Sacotel and BaxEnergy capitalizes on the strengths of both organizations and signs the beginning of a new era in renewable energy solutions, driven by visionary leadership and a shared commitment to transforming the renewable energy sector.

“What else awaits us in the future?” – we asked as a final question to Mrs. Hosri.

Joumana said: “Middle East is a great production area for green hydrogen. Good solar irradiation, good geolocation… The MENA area will produce hydrogen at a very low cost, representing one of the major players in this sector in the next years. For sure, a great opportunity for BaxEnergy’s cutting-edge solutions to drive innovation through this market.”

 

A picture of Simone Massaro, Joumana Hosri, Riccardo Hosri and Michele Greca

About BaxEnergy

BaxEnergy is a leading provider of innovative software solutions for the renewable energy industry. With a focus on enhancing efficiency and optimizing performance, BaxEnergy offers comprehensive solutions for utilities, independent power producers, investment funds, and asset managers.

BaxEnergy’s flagship product Energy Studio Pro® is an asset performance management software that spans the entire spectrum of renewable energy sources, including wind, solar, hydroelectric, geothermal, hydrogen, and battery storage. BaxEnergy’s state-of-the-art software suite is designed to facilitate seamless visualization, analysis, and optimization of renewable energy power plants, ensuring maximized output and efficiency. It includes real-time monitoring and control, asset performance management, predictive maintenance, and comprehensive reporting and analytics.

In addition to its core offerings, BaxEnergy is deeply invested in research and development, constantly seeking new ways to harness the power of emerging technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT). These efforts are aimed at further enhancing the efficiency and sustainability of renewable energy resources, ultimately contributing to a greener, more sustainable future.

About SacotelZnshine

SacotelZnshine is a joint venture that combines the expertise and resources of Sacotel, a member of the Fernand Hosri Group, and Znshine Solar, another family business owned by the Chinese family Wang.

Sacotel was founded in 1978 and is the exclusive agent and distributor in Lebanon for major brands such as Urmet from Italy, Elkron from Italy, Aprimatic from Italy, and FDI Matelec from France.

Znshine Solar is a Tier 1 photovoltaic (PV) panels manufacturer with more than 30 years of experience in the industry. This collaboration was established to enhance the provision of high-quality, competitively priced products and services within the region. SacotelZnshine today represents a significant partnership aimed at leveraging both companies’ strengths to serve the renewable energy sector more effectively.