10 May '18, 12pm

SolarEdge Moves Beyond Solar With Energy Storage Acquisition, Virtual Power Plant Launch

SolarEdge Moves Beyond Solar With Energy Storage Acquisition, Virtual Power Plant Launch

SolarEdge reported record revenues and profitability for the first quarter of 2018 on Wednesday — along with plans to move into markets beyond solar power optimization. On the energy storage front, SolarEdge announced an $11.5 million acquisition of Gamatronic Electronic Industries Ltd., an uninterruptible power supply (UPS) systems provider for commercial and industrial businesses around the world. CEO Guy Sella noted that the acquisition is the second major step for the company outside the solar arena, the first being last year’s launch of inverter-embedded EV charging systems. Another came last week, with SolarEdge’s launch of a cloud-based virtual power plant management system, one that could turn its fleet of solar optimizers and inverters into nodes of a distributed energy resource control platform. Last week’s launch marks the debut of a system that’s already contro...

Full article: https://www.greentechmedia.com/articles/read/solaredge-mo...

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