Microinverter firm Enecsys attracts US$41 million in new funding round

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.

PV-Tech Storage Promo

Newsletter

Preview Latest
Subscribe
We won't share your details - promise!
Next Generation Solar PV Finance

Publications

  • Photovoltaics International 24th Edition

    Signs earlier in the year of the global industry entering a growth phase have now been confirmed beyond any doubt. Almost all the big-name suppliers have now announced some form of manufacturing capacity expansion, a trend that analysts agree will only gather pace as long as the levels of demand predicted over the next few years turn out to be correct.

  • Manufacturing The Solar Future: The 2014 Production Annual

    Although the past few years have proved extremely testing for PV equipment manufacturers, falling module prices have driven solar end-market demand to previously unseen levels. That demand is now starting to be felt by manufacturers, to the extent that leading companies are starting to talk about serious capacity expansions later this year and into 2015. This means that the next 12 months will be a critical period if companies throughout the supply chain are to take full advantage of the PV industry’s next growth phase.

Partners

Acknowledgements

Solar Media