January 14, 2010

Cambridge, United Kingdom: Enecsys Secures £2.5 Million Investment from Good Energies

Enecsys Limited, a manufacturer of solar photovoltaic micro-inverters, has attracted further investment of £2.5 million ($4.2 million) from Good Energies, a global investor in renewable energy and energy efficiency industries. This new investment adds to the £6M ($10 million) received from Wellington Partners and BankInvest in June 2009 for a total investment of £8.5 million ($14.3 million) in Enecsys.

“Good Energies invests in companies that significantly accelerate the clean-energy transition and that possess clear technology differentiation. We are delighted that they recognize these characteristics in Enecsys and have chosen to support us as we prepare for our first product launch in the early part of this year,” said Paul Engle, Enecsys CEO. “We believe this partnership brings unparalleled insight and expertise into the industry and positions Enecsys to become a global leader in solar inverters.” George Coelho, Good Energies’ Managing Director, London, joins the board of Enecsys.

He commented: “Enecsys excelled with respect to our investment criteria. The company’s combination of innovative patented technology, seasoned management and board, and a drive to succeed impressed us immensely and I look forward to helping them achieve leadership in the market for solar power conversion.”

Enecsys will make its first product announcement in early 2010. The company’s unique micro-inverter technology promises lowest lifetime costs, highest reliability and faster, easier installation of solar PV systems. Micro-inverter architectures increase energy harvesting from solar PV systems, reduce installation and maintenance costs and eliminate the risk related to high voltage DC, enabling mass market deployment of solar PV.

Further details about: Enecsys Limited