Enphase Energy, Inc., a developer and manufacturer of solar micro-inverter systems, has raised $15 million in new funding to expand manufacturing of its products.
New investor RockPort Capital Partners led the round, and existing institutional investors Third Point Ventures and Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc., also participated.
Enphase systems include high efficiency micro-inverters that convert the DC power from each solar module to grid compliant AC power. In addition, the Enphase Micro-inverters send performance information from each module to a secure website for analysis and visualization. Micro-inverters eliminate the need for a large centralized inverter. Enphase Micro-inverter Systems have demonstrated energy harvest gains between 5 and 25% over traditional inverters, according to the company.
"We are excited to join the Enphase team," said Todd Wilson, General Partner at RockPort Capital Partners, who will join the Enphase Energy board of directors. "The company’s products are industry-defining and Enphase has proven management, a soaring market, and an excellent value proposition. We are committed to helping Enphase reach the next levels of success."
About Enphase Energy
Enphase Energy provides solar energy management systems for residential and commercial markets. The company offers a networked system, which includes high-efficiency Micro-Inverters, communications and web-based analytics. The systems increase energy harvest, increase system reliability, and simplify design, installation and management. Founded in 2006 and based in Northern California, the company is led by veterans from the solar and high tech industries and backed by industry leaders.
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