US micro-inverter manufacturer Enphase has agreed to acquire Germany-based GreenCom Networks AG for an undisclosed sum.
The Munich-based company is a provider of Internet of Things (IoT) software solutions. “The company’s technology facilitates a convergence of sectors such as mobility, heating, and renewable energy, often referred to as sector convergence or sector coupling, to help achieve full home electrification,” Enphase said in a statement. “GreenCom Networks has extensive experience integrating a diverse set of devices such as solar inverters, battery systems, EV chargers, and heat pumps.”
Enphase is now waiting for final approval from relevant EU authorities and expects to finalize the transaction in the fourth quarter of this year. “The technical capabilities of the development team at GreenCom Networks will help accelerate our home energy management solutions globally,” said Mehran Sedigh, Vice President, Storage Business Unit at Enphase Energy. “We are excited to introduce the company’s solutions to our customers, beginning in Germany. We look forward to building upon the company’s current offering, and integrating it into the Enphase platform.”
In March, Enphase acquired US-based SolarLeadFactory LLC, a company that provides high-quality leads to solar installers. SolarLeadFactory combines proprietary software and data analytics and offers Enphase decades of solar and marketing experience.
In mid-April, the micro-inverter maker said it will begin producing micro-inverters in Timisoara, Romania, from the first quarter of 2023. The company's factory will be located at the Romanian production site of its partner, Flextronics.
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