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In what is claimed to be the largest private equity investment in the European cleantech sector so far this year, microinverter firm Enecsys has attracted US$41 million in a new Series B funding round to support further growth, reports Solar Power Portal.
“The resources from this financing will be used to execute our growth strategy by accelerating our product development and cost reduction plan and expanding our global presence in sales, marketing, customer service and manufacturing to serve every major market,” commented Henrik Raunkjaer, Enecsys' CEO.
Climate Change Capital Private Equity led the latest round with an investment of £11 million (US$18 million). The remaining funding of £14 million (US$23 million), was secured from the existing Enecsys investors, Wellington Partners, NES Partners (formerly known as Bankinvest New Energy Solutions) and Good Energies, who together previously invested £8.5 million (US$14.3 million) in Enecsys in a Series A financing in 2009.