MILPITAS, Calif.--(BUSINESS WIRE)--SolarEdge Technologies, Inc. (“SolarEdge” or the “Company”) (NASDAQ: SEDG), a global leader in smart energy technology, announced today that its Energy Storage division has begun shipping new battery cells designed for stationary Energy Storage applications.
The new line of Nickel Manganese Cobalt (NMC) pouch cells, manufactured at Sella 2, the Company’s new battery cell manufacturing facility in South Korea, has been optimized for energy storage applications for the residential, commercial and utility scale segments. The cells support high cycle life (up to 8000 cycles), high energy density, high-power throughput and a wide temperature range without compromising operational life, enabling SolarEdge to provide battery solutions that support a broad range of use cases, including demanding grid-stability applications.
Ronen Faier, SolarEdge Chief Financial Officer and General Manager of SolarEdge Energy Storage division, commented: “The global stationary storage market is estimated to grow from approximately 45GWh in 2022 to 164GWh by 2030 and SolarEdge is focused on supporting this critical segment. Owning key processes and cell chemistries will allow us to further secure the resilience of our supply chain and provides us with the flexibility to produce cells optimized for various energy storage solutions.”
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
