SolarEdge to acquire battery manufacturer Kokam

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Source: SolarEdge.

Smart energy and inverter company SolarEdge will acquire the South Korean battery manufacturer Kokam.

SolarEdge has initially taken a 75% share for US$88 million with the intention of purchasing the remaining shares in the future.

“The acquisition of Kokam will enable us to grow our offering, adding already proven battery storage to our product portfolio,” said Guy Sella, CEO, chairman and founder, SolarEdge. “Our technological innovation combined with Kokam’s world-class team and renowned battery storage solutions, will enable seamless integration with our current solutions, taking us a further step toward making solar installations smarter and more beneficial.”

Kokam produces lithium-ion batteries for a variety of applications including aerospace, electric vehicles and energy storage systems. It claims to have more than 700MWh of deployments in the field. As well as serving as system integrator to some of its battery storage projects and delivering turnkey systems, the company has a range of batteries that include high power nickel manganese cobalt (NMC) lithium batteries. In May this year Energy-Storage.news reported that the company delivered NMC batteries to a mining operation, where they will help increase the efficiency of gas turbines. While the high power batteries come at a higher capex than other grid batteries, Kokam claimed that there is less need to oversize systems, which could lower the overall cost of ownership. 

Kokam has recently also been pushing its uninterruptible power supply (UPS) business to the data centre sector. In May SolarEdge purchased the UPS provider Gamatronic.

6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.

Read Next

PV Tech Premium
August 4, 2021
The latest installment of PV Tech’s special feature on Europe’s solar renaissance rounds-up the rest of the continent’s key markets, examining the key drivers behind solar growth in Portugal, France and the UK, amongst others.
August 3, 2021
PV inverter manufacturer SolarEdge Technologies posted record quarterly revenues in Q2, thanks in part to a strong performance in Europe.
PV Tech Premium
August 3, 2021
This installment of PV Tech’s European solar special uncovers the emerging markets of Europe’s PV sector, including Poland, Denmark and Greece.
PV Tech Premium
August 2, 2021
In today’s installment of PV Tech’s ‘European solar under the spotlight’ feature, we assess the potential and key drivers behind Europe’s leading markets in Germany, Spain and the Netherlands.
PV Tech Premium
July 30, 2021
Not only will solar be the dominant source of new power generation in Europe by 2025, cementing its position as the third largest market for solar globally, but the continent has placed the asset class at the very heart of its COVID-19 recovery strategy. As part of a week-long special report on PV Tech Premium, Liam Stoker, Edith Hancock and Jules Scully explore the drivers for solar in Europe, the key markets and the challenges that remain.
July 29, 2021
US residential solar installer Sunnova said it was investing in its end-to-end solar services to cater for customers demanding more from their rooftop installations.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK