Enphase Energy to buy Greencom Networks

US solar microinverter and battery systems maker Enphase Energy Inc (NASDAQ: ENPH) has struck a deal to acquire German Greencom Networks which provides software solutions enabling customers to connect and manage a range of distributed energy devices within the home.

The Munich-based company specialises in integrating a set of devices such as solar inverters, battery systems, EV chargers, and heat pumps to optimise energy consumption and the amount of self-generated energy that is consumed or stored by the homeowner.

The acquisition will expand Enphase's engineering capabilities to service the accelerating clean energy transition in Europe, the US company said on Monday.

As a result of the deal, installers will have access to a complete home energy management system that integrates Enphase microinverters and batteries with third-party EV chargers and heat pumps, Enphase explained.

“By pairing Enphase solar and battery systems with GreenCom’s IoT platform, we believe we can make meaningful progress in improving sustainability, decarbonisation, and reducing the reliance on fossil fuels for our customers,” Greencom’s co-CEOs Christian Feisst and Peter Muller-Bruhl commented in the statement.

The acquisition is subject to regulatory approvals and is expected to close in the fourth quarter of 2022. Financial details of the transaction were not disclosed.

The deal comes a few months after Enphase acquired Oakland, California-based SolarLeadFactory in a push to build a digital platform for installers of solar and battery systems.

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