SolarEdge has Raised $126 Million in NASDAQ

26 March, 2015

SolarEdge has invented an intelligent inverter solution that has changed the way power is harvested and managed in a solar PV system

SolarEdge has invented an intelligent inverter solution that has changed the way power is harvested and managed in a solar PV system

SOLAREDGE

SolarEdge Technologies raised $126 Million following the completion of its initial public offering of 7,000,000 shares. The common stock was sold to the public at a price of $18.00 per share. The shares began trading today on the NASDAQ Global Select Market under the ticker symbol “SEDG.”

Goldman, Sachs & Co. and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering. Needham & Company, Canaccord Genuity Inc. and Roth Capital Partners are acting as co-managers.

SolarEdge has invented an intelligent inverter solution that has changed the way power is harvested and managed in a solar PV system. It was founded in 2006 and began commercial shipments in 2010. The revenue grew from $79.0 million in fiscal 2013 to $133.2 million in fiscal 2014, and to $140.3 million in the first six months of fiscal 2015.

First day in NASDAQ
First day in NASDAQ

The Solaredge DC optimized inverter system maximizes power generation at the individual PV module level while lowering the cost of energy produced by the solar PV system and providing comprehensive and advanced safety features. Its system consists of power optimizers, inverters and cloud-based monitoring platform and addresses a broad range of solar market segments, from residential solar installations to commercial and small utility-scale solar installations.

Optimizing the Solar Energy Industry

Historically, the solar PV industry used traditional string and central inverter architectures to harvest PV solar power. However, traditional inverter architectures result in energy losses as well as systemic challenges in design flexibility, safety and monitoring.

More recently, microinverter technology was introduced in an attempt to resolve these challenges, but this technology has certain inherent limitations. We believe that our DC optimized inverter system, consisting of an inverter and distributed power optimizers, best addresses all of these challenges.

SOLAREDGE-ROOF

The SolarEdge system allows for superior power harvesting and module management by deploying power optimizers at each PV module while maintaining a competitive system cost by keeping the AC inversion and grid interaction centralized using a simplified DC-AC inverter. The entire system is monitored through cloud-based monitoring platform that enables reduced system operation and maintenance (“O&M”) costs.

The system enables each PV module to operate at its own maximum power point (MPP), rather than a system-wide average, enabling dynamic response to real-world conditions, such as atmospheric conditions, PV module aging, soiling and shading and offering improved energy yield relative to traditional inverter systems.

In addition, the system’s installed cost per watt is competitive with traditional inverter systems of leading manufacturers and generally lower than comparable microinverter systems of leading manufacturers. This architecture allows for complex rooftop system designs and enhanced safety and reliability. Our technology and system architecture are protected by 39 awarded patents and 136 patent applications filed worldwide.

The company sells its products directly to large solar installers and engineering, procurement and construction firms (EPCs) and indirectly to thousands of smaller solar installers through large distributors and electrical equipment wholesalers.

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Posted in: Energy & Environment , News

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