Investment from Good Energies for Groundbreaking Solar Micro-Inverter.
Good Energies invests in companies that significantly accelerate the clean-energy transition and that possess clear technology differentiation.
Enecsys Limited, a manufacturer of solar photovoltaic (PV) micro-inverters, has attracted further investment of Â£2.5 million ($4.2 million) from Good Energies, a leading global investor in renewable energy and energy efficiency industries. This new investment adds to the Â£6M ($10 million) received from Wellington Partners and BankInvest in June 2009 for a total investment of Â£8.5 million ($14.3 million) in Enecsys.
“Good Energies invests in companies that significantly accelerate the clean-energy transition and that possess clear technology differentiation. We are delighted that they recognize these characteristics in Enecsys and have chosen to support us as we prepare for our first product launch in the early part of this year,” said Paul Engle, Enecsys CEO. “We believe this partnership brings unparalleled insight and expertise into the industry and positions Enecsys to become a global leader in solar inverters.”
George Coelho, Good Energies’ Managing Director, London, joins the board of Enecsys. He commented: “Enecsys excelled with respect to our investment criteria. The company’s combination of innovative patented technology, seasoned management and board, and a drive to succeed impressed us immensely and I look forward to helping them achieve leadership in the market for solar power conversion.”
Enecsys will make its first product announcement in early 2010. The company’s unique micro-inverter technology promises lowest lifetime costs, highest reliability and faster, easier installation of solar PV systems. Micro-inverter architectures increase energy harvesting from solar PV systems, reduce installation and maintenance costs and eliminate the risk related to high voltage DC, enabling mass market deployment of solar PV.
About Enecsys: Enecsys was incorporated in Cambridge, UK in 2003. The company’s award-winning solar micro-inverter technology was originally developed at Cambridge University, one of the world’s most revered centres of technical innovation. More information is available at www.enecsys.com.
About Good Energies: Good Energies is a leading global investor in renewable energy and energy efficiency industries. The firm invests in solar, turbine-based renewables, green building technologies and other emerging areas within clean energy. Guided by the “3-P” principle of People-Planet-Profit, Good Energies looks for meaningful, long-term investments in companies with outstanding growth potential. The firm’s mission is to accelerate the global transition to a low-carbon economy. Founded in 2001, Good Energies manages the renewable energy portfolio of COFRA, a family owned and managed group of companies. The firm operates globally from offices in London, New York, Toronto, Washington, D.C., and Zug, Switzerland. www.goodenergies.com.
Editors’ technical notes Micro-inverter architectures, with an inverter located behind each solar module, are now being widely deployed to overcome the disadvantages of conventional string systems with central inverters. Enecsys micro-inverters reduce the cost per harvested watt of energy by 15% – 25% over the life of the system. Shading caused by clouds or obstructions have minimal impact on overall system performance because power is harvested from each module individually, rather than from groups of modules strung together. This also means that installations can mix and match different modules and do not need to be on the same roof plane, multiple planes can be used to harvest more energy and systems are scalable. A potential single point of failure — the central inverter — is eliminated and dangerous high-voltage DC is not produced.
Source: Business Wire
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