Enphase Energy to Acquire ClipperCreek
EV sales are expected to grow more than 40% annually in the
The acquisition is expected to provide the following benefits:
- Provides Enphase distributors and installers globally with EV charging solutions that can be sold alongside solar and battery systems
- Launches Enphase into the rapidly growing EV sector with a respected brand and industry-leading products
- Accelerates the Enphase roadmap to enable bi-directional charging capability for vehicle-to-home and vehicle-to-grid applications
- Establishes a domestic manufacturing footprint for Enphase
“We were immediately drawn to ClipperCreek’s strong consumer brand, excellent product quality, and emphasis on customer experience,” said
“The EV industry has reached a tipping point, as consumers are demanding cleaner ways of getting around other than from cars with internal combustion engines,” said
The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close by
Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 39 million microinverters, and over 1.7 million Enphase-based systems have been deployed in more than 130 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.
Founded in 2006 by
This press release contains forward-looking statements (such as statements in the future tense and statements including “anticipate,” “believe,” “enhance,” “expect,” and similar terms and concepts), including statements related to the obtaining regulatory approvals for and the closing and expected benefits of the transaction; the expected capabilities and performance of Enphase Energy’s and ClipperCreek’s technology and products; our business strategy, including expansion and the market adoption of our products; and the anticipated growth of EV sales. These forward-looking statements are based on Enphase's current expectations and inherently involve significant risks and uncertainties, including, but not limited to, the risk that the transactions are terminated prior to closing or the related transactions do not otherwise close (or close on terms different than what has been agreed as of the date hereof), and the parties' failure or inability to perform their respective obligations under the related transaction agreements. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase's most recent Annual Report on Form 10-K and other documents on file with the SEC and available on the SEC's website at www.sec.gov. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.
Source: Enphase Energy, Inc.