SolarEdge to Invest in German Software Start-Up Aiming to Decarbonize the Multi-Dwelling Sector

MILPITAS, Calif. & MUNICH--(BUSINESS WIRE)--Mar. 7, 2024-- SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy technology, today announced that it has signed an agreement to invest in and partner with AMPEERS ENERGY (“AMPEERS”), a German based software start-up that designs and operates solutions for decarbonizing entire portfolios of multi-dwelling buildings and serves a broad spectrum of real estate companies across Germany and Austria.

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Illustration of solar installation on German multi-dwelling unit (Photo: AMPEERS ENERGY)

By pairing SolarEdge’s proven solar and smart energy portfolio with the AMPEERS platform, this partnership is designed to combine technology, software and services to create a new all-inclusive photovoltaic tenant electricity solution. The offering is expected to provide real estate companies with a holistic solution for a climate-neutral building portfolio, which includes the planning, implementation and financing options for solar and storage generation, tenant electricity billing solutions, EV charging infrastructure and new heating technologies. The solution is designed to provide landlords and tenants with the economic benefits of optimized on-site solar generation and enable a faster and simpler installation of photovoltaic and tenant electricity solutions in real estate portfolios.

The inherent benefits of SolarEdge’s advanced solar technology such as built-in safety features, maximized energy yield, design flexibility and reduced operational and maintenance costs play a key role for multi-dwelling buildings that typically have limited roof space and access.

SolarEdge’s investment and partnering with AMPEERS is a strategic step that aims to capitalize on legislative changes¹ in tenant electricity models in Germany, and can provide a new avenue to address the multi-dwelling market across Europe.

Zvi Lando, CEO, SolarEdge Technologies, said: "More than half² of the population in Germany live in multi-dwelling apartment buildings, most of them under a leasing contract. Until recently this meant they had less access to clean solar energy in comparison with those who own a private home. By providing holistic and smart energy solutions to real estate companies together with AMPEERS, we hope to help increase the accessibility of decarbonization and economic benefits provided by solar to more people across the country.”

Dr. Karsten Schmidt, CEO and co-founder of AMPEERS ENERGY, said: "SolarEdge stands at the forefront of smart renewable energy technologies. This collaboration is centered around a holistic approach that combines technology, software and services. We are focused on providing residential portfolios with a scalable PV tenant electricity solution, embedded into an overall carbon strategy. This comprehensive package streamlines the process for housing companies to swiftly and cost-effectively adopt a climate-positive energy supply.”

The investment is subject to certain customary closing conditions and regulatory approvals and is expected to be finalized during the first half of 2024.

About AMPEERS Energy

AMPEERS ENERGY is the preferred partner of the real estate industry when it comes to achieving a climate-positive energy supply. AMPEER ENERGY assists housing companies in promptly achieving a carbon-neutral portfolio while ensuring long-term economic viability. With its software-as-a-service platform, AMPEERS ENERGY efficiently oversee the entire decarbonization process, from emissions analysis to identifying necessary modernization measures, system installation, and ongoing technical and economic management.

About SolarEdge

SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, electric vehicle powertrains, and grid services solutions. Visit us at: solaredge.com

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¹ “Solar Package” legislation in Germany, upcoming in 2024: https://www.bmwk.de/Redaktion/DE/Downloads/Gesetz/20230816-entwurf-eines-gesetzes-zur-aenderung-des-erneuerbare-energien-gesetzes.html
² According to the German Federal Statistical Office: https://www.destatis.de/DE/Presse/Pressemitteilungen/2023/07/PD23_297_31231.html#:~:text=Von%20den%2043%2C4%20Millionen,Mehrfamilienh%C3%A4user%20aus%206%2C7%20Wohneinheiten

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Press Contact
SolarEdge Technologies, Inc.
Lily Salkin Global Public and Media Relations Manager
Lily.salkin@solaredge.com

SolarEdge Technologies, Inc.
Dana Noyman Head of Corporate Communications and Global PR
dana.noyman@solaredge.com

Investor Contact
JB Lowe Head of Investor Relations
investors@solaredge.com

Source: SolarEdge Technologies, Inc.