 | |
 SolarEdge inverters on the roof of a high school in Austria in 2014 | |
| Company type | Public |
|---|---|
| Industry | Renewable energy |
| Founded | 2006; 19 years ago (2006) |
| Headquarters | , Israel |
Key people | Shuki Nir (CEO) |
| Products |
|
| Revenue |  US$1.96 billion (2021) |
| US$207 million (2021) | |
| US$169 million (2021) | |
| Total assets |  US$1.71 billion (2021) |
| Total equity | US$1.31 billion (2021) |
Number of employees | 5,285 (2023) |
| Website | solaredge |
| Footnotes / references Financials as of December 31, 2021[update]. References:[1] | |
SolarEdge Technologies, Inc. is an Israeli company that developed a DC optimized inverter system.
In 2023, SolarEdge became the most losing stock in the S&P 500 for the year, which resulted in its delisting from the index.[2] On June 25th 2024, SolarEdge plunged nearly 15% in early morning trading to $28.41, down from an all-time-high of $368.33 on November 15, 2021.[3][4]
SolarEdge was established in 2006 by Guy Sella, Lior Handelsman, Yoav Galin, Meir Adest and Amir Fishelov. The company was backed byventure capital fromGE Energy Financial Services,Norwest Venture Partners,Lightspeed Venture Partners, ORR Partners,Genesis Partners,Walden International, Vertex Ventures Israel, JP Asia Capital and Opus Capital Ventures.
The company started mass production of its products by contract manufacturerFlex at the end of 2009.
In March 2015, SolarEdge had aninitial public offering of 7,000,000 shares of its common stock at a price to the public of $18.00 per share, raising $126 million. The shares began trading on theNASDAQ Global Select Market under the ticker symbol “SEDG.”Goldman Sachs andDeutsche Bank acted as joint book-running managers for the offering.[5]
In May 2015, SolarEdge partnered withTesla Energy[6] to develop an inverter that could charge theTesla Powerwall home energy storage battery that was unveiled in April 2015.[7] The SolarEdge inverter manages both the conversion of energy from solar panels along with charging and discharging of the Powerwall.[8] Over time, Tesla phased out its partnership with SolarEdge, with Tesla adding an inverter to its Powerwall 2 that was introduced in October 2016, and introducing its own solar inverter in January 2021
In October 2018, SolarEdge announced agreements to acquire a major stake in Kokam, a South Korean provider of lithium-ion battery cells, batteries and energy storage solutions.[9] In January 2019 SolarEdge announced the acquisition of a majority stake in SMRE[10] – an Italian EV powertrain manufacturer. In 2019 SolarEdge announced the acquisition of Gamatronic, a UPS manufacturer, and established its Critical Power division
In January 2023, SolarEdge announced the acquisition ofHark – a European-Based Energy Analytics and IoT Company[11]
Following a battle with cancer, founder Guy Sella died in 2019. Former vice president of global sales Zvi Lando, was appointed as CEO.[12]
In November 2024, SolarEdge announced that it was closing its Energy Storage division impacting approximately 500 employees most of whom are located in South Korea[13]
In December 2024, Shuki Nir appointed as the new CEO, replacing interim CEO, Ronen Faier[14]
