SolarEdge

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SolarEdge Technologies, Inc.
Company type
Public
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Headquarters
Herzliya
,
Israel
Key people
Shuki Nir (CEO)
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Total equityIncreaseUS$1.31 billion (2021)
Number of employees
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Websitesolaredge.com
Footnotes / references
Financials as of December 31, 2021.
References:[1]

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SolarEdge Technologies, Inc. is an Israeli company that produces DC optimized inverter systems.

In 2023, SolarEdge became the most losing stock in the S&P 500 for the year, which resulted in its removal from the index.[2] On June 25th 2024, SolarEdge plunged nearly 15% in early morning trading to $28.41, down from an all-time-high of $368.33 on November 15, 2021.[3][4]

History

SolarEdge was established in 2006 by Guy Sella, Lior Handelsman, Yoav Galin, Meir Adest and Amir Fishelov. The company was backed by venture capital from GE Energy Financial Services, Norwest Venture Partners, Lightspeed Venture Partners, ORR Partners, Genesis Partners, Walden International, Vertex Ventures Israel, JP Asia Capital and Opus Capital Ventures.

The company started mass production of its products by contract manufacturer Flex at the end of 2009.

In March 2015, SolarEdge had an initial public offering of 7,000,000 shares of its common stock at a price to the public of $18.00 per share, raising $126 million. The shares began trading on the NASDAQ Global Select Market under the ticker symbol “SEDG.” Goldman Sachs and Deutsche Bank acted as joint book-running managers for the offering.[5]

In May 2015, SolarEdge partnered with Tesla Energy[6] to develop an inverter that could charge the Tesla Powerwall home energy storage battery that was unveiled in April 2015.[7] The SolarEdge inverter manages both the conversion of energy from solar panels along with charging and discharging of the Powerwall.[8] Over time, Tesla phased out its partnership with SolarEdge, with Tesla adding an inverter to its Powerwall 2 that was introduced in October 2016, and introducing its own solar inverter in January 2021.

In October 2018, SolarEdge announced agreements to acquire a major stake in Kokam, a South Korean provider of lithium-ion battery cells, batteries and energy storage solutions.[9] In January 2019 SolarEdge announced the acquisition of a majority stake in SMRE[10] – an Italian EV powertrain manufacturer. In 2019 SolarEdge announced the acquisition of Gamatronic, a UPS manufacturer, and established its Critical Power division.

SolarEdge HQ in Herzliya

In January 2023, SolarEdge announced the acquisition of Hark Systems – a European-Based Energy Analytics and IoT Company.[11]

Following a battle with cancer, founder Guy Sella died in 2019. Former vice president of global sales Zvi Lando, was appointed as CEO.[12]

In November 2024, SolarEdge announced that it was closing its Energy Storage division impacting approximately 500 employees most of whom are located in South Korea.[13]

In December 2024, Shuki Nir was appointed as the new CEO, replacing interim CEO, Ronen Faier.[14]

See also

References

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  1. ^ Page Module:Citation/CS1/styles.css has no content."SolarEdge Technologies, Inc. 2021 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 22, 2022.
  2. ^ Page Module:Citation/CS1/styles.css has no content.Mustaki, Adiel Eithan (3 December 2023). "SolarEdge slides out of S&P 500 after losing over 70% of value this year".
  3. ^ Page Module:Citation/CS1/styles.css has no content."SolarEdge Technologies Stock Plunges on Customer Bankruptcy".
  4. ^ Page Module:Citation/CS1/styles.css has no content."SolarEdge Technologies - 9 Year Stock Price History".
  5. ^ Page Module:Citation/CS1/styles.css has no content.Richardson, Jake (March 30, 2015). "$126 Million Dollar IPO For SolarEdge". Clean Technica. Retrieved June 26, 2022.
  6. ^ Page Module:Citation/CS1/styles.css has no content.Wainer, David (July 1, 2015). "Tesla's Battery Push Is Good News for This Israeli Solar Company". Bloomberg. Retrieved June 26, 2022.
  7. ^ Page Module:Citation/CS1/styles.css has no content.Castelvecchi, Davide (May 4, 2015). "Will Tesla's Battery for Homes Change the Energy Market?". Scientific American. Retrieved May 5, 2015.
  8. ^ Page Module:Citation/CS1/styles.css has no content.Graul, Jason (October 8, 2015). "Tesla Motors and Solaredge Technologies to unveil powerwall at uk show". Business Finance News.
  9. ^ Page Module:Citation/CS1/styles.css has no content."SolarEdge to acquire Kokam". October 11, 2018. Retrieved October 15, 2018.
  10. ^ Page Module:Citation/CS1/styles.css has no content.Wenkert, Amarelle (January 7, 2019). "SolarEdge Buys Industrial Machinery Firm SMRE as Part of Electric Vehicle Push". CTECH – www.calcalistech.com. Retrieved November 2, 2021.
  11. ^ Page Module:Citation/CS1/styles.css has no content."SolarEdge to Acquire Hark Systems, a European-Based Energy Analytics and IoT Company". Yahoo Finance. 2023-01-03. Retrieved 2023-09-01.
  12. ^ Page Module:Citation/CS1/styles.css has no content.Martín, José Rojo (August 27, 2019). "SolarEdge CEO Guy Sella dies after cancer battle". Energy Storage News. Archived from the original on August 27, 2019.
  13. ^ Page Module:Citation/CS1/styles.css has no content."SolarEdge Announces Closure of Energy Storage Division". Retrieved 2025-02-27.
  14. ^ Page Module:Citation/CS1/styles.css has no content."SolarEdge Appoints Shuki Nir as Chief Executive Officer". Retrieved 2025-01-10.

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