Enlighten Targets 2024 Annual Profit with Subscription Solar

**Enlighten Achieves Annual Profit in 2024... Driving Explosive Growth with Solar Subscription Model** Energy climate tech company Enlighten successfully transitioned to an annual profit in 2024, recording remarkable growth. It achieved sales of 41.9 billion won, operating profit of 1.23 billion won, and net profit of 830 million won, marking a 23.3% increase in sales year-on-year, and a remarkable improvement of over 7.1 billion won in operating profit and over 9.7 billion won in net profit, respectively. Gross profit more than doubled, and the gross profit margin also increased from 12.2% to 20.4%, demonstrating both quantitative and qualitative growth. The core driver of this growth is the 'solar subscription model,' which is gaining significant attention due to the combination of rising industrial electricity rates and the increasing demand from companies to fulfill their RE100 commitments. This model is an integrated solution that allows companies to self-consume solar power at low costs without the burden of initial investment, and also generates additional revenue through the reverse transmission and resale of excess generated power. Through this, companies can simultaneously benefit from electricity bill savings and the achievement of carbon neutrality goals. Major companies such as Daedong Mobility and Lotte Chemical have successfully adopted this model, proving its effectiveness. Enlighten's competitiveness does not stop there. The 'Baljeonwang' platform, which integrally manages the largest scale of solar assets in Korea, spanning over 27,000 sites (6.2 GW) nationwide, and its self-developed RTU-based real-time control system, provide unique technological capabilities and execution prowess, encompassing revenue forecasting, risk analysis, asset optimization, power generation monitoring, fault response, safety diagnostics, as well as PPA contracts and B2B power brokerage. This integrated capability has firmly established Enlighten as an energy strategy solution company. CEO Lee Young-ho described this transition to profitability as "more than just an improvement in performance; it is a qualitative transformation of the entire revenue structure," emphasizing that "it was effective in substantially supporting customers' energy strategy execution and building a repeatable revenue base through the subscription model." He further expressed the ambition to lead the market as a pioneering company that provides concrete energy strategy solutions. Enlighten plans to continue its sustained growth based on the subscription model in 2025 by expanding its PPA-based revenue model and making a full-scale entry into the B2B power trading market.