Enecsys secures £25 million funding


Leading the Series B funding was Climate Change Capital Private Equity, which invested £11 million ($18 million) in Enecsys. Meanwhile, existing investors Wellington Partners, NES Partners and Good Energies bettered their previous Series A 2009 investment of £8.5 million ($14.3 million) by £5.5 million, to invest a total of £14 million ($23 million).

This latest round of funding is said to represent the largest private equity raise in the European cleantech sector so far this year.

Henrik Raunkjaer, Enecsys’ CEO commented: "The resources from this financing will be used to execute our growth strategy by accelerating our product development and cost reduction plan and expanding our global presence in sales, marketing, customer service and manufacturing to serve every major market."

The company recently launched its products in Europe and North America. In a statement, it said that the latest financing "has been arranged to facilitate substantial expected growth".

Simon Drury, a Partner at Climate Change Capital Private Equity, who will join the board of Enecsys added: "The ability for Enecsys to provide high performance, cost effective micro inverters with the reliability and life expectancy to match that of solar modules fundamentally changes the economic model of solar photovoltaics and will play an important role in growing the market for this clean power source."

Enecsys was founded in 2003. Its patented photovoltaic micro inverter technology was developed at Cambridge University in the UK.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.