Enphase Energy Completes Acquisition of GreenCom Networks

PVTIME Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, announced on October 11 that it has completed the previously disclosed acquisition of GreenCom Networks AG. Based in Munich, Germany, GreenCom Networks provides Internet of Things (IoT) software solutions for customers to connect and manage a wide range of distributed energy devices within the home. The company’s technology facilitates a convergence of sectors such as mobility, heating, and renewable energy to help achieve full home electrification.

The acquisition is expected to:

  • Add a local engineering team to service the accelerating clean energy transition in Europe
  • Provide installers with a complete home energy management system integrating Enphase microinverters and batteries with third-party EV chargers and heat pumps
  • Enable homeowners to monitor and control the devices from the Enphase® App
  • Help homeowners save on their electricity bill through self-consumption, while reducing carbon footprint and reliance on fossil fuels
  • Facilitate home energy management features such as green EV charging, green heating with heat pumps, and time-of-use optimization

“We are pleased to close the acquisition of GreenCom Networks and welcome their employees to Enphase,” said Mehran Sedigh, Vice President, Storage Business Unit at Enphase Energy. “The ongoing energy crisis in Europe is causing governments and homeowners to seek solutions ensuring energy supply with predictable costs. By leveraging GreenCom’s software solutions with Enphase’s best-in-class solar and battery systems, we believe homeowners will have greater control over their energy costs than ever before. Enphase is committed to continuing its investment in the rapidly growing European solar market, and the addition of GreenCom’s talented software development team demonstrates how we will stay at the forefront of technology in this important market.”