Enphase Energy Acquires SolarLeadFactory

Rhea-AI Summary

Enphase Energy, Inc. (NASDAQ: ENPH) has announced its acquisition of SolarLeadFactory LLC, a company specializing in providing high-quality leads to solar installers. This strategic move aims to enhance the lead generation capabilities of Enphase's installer digital platform, ultimately reducing customer acquisition costs. SolarLeadFactory, founded in 2012, will help Enphase increase installer efficiency and conversion rates, vital for expanding solar adoption.

Positive

• Acquisition of SolarLeadFactory enhances lead generation for installers.
• Expected to reduce customer acquisition costs for installers.
• Aligns with Enphase's strategy to build a comprehensive digital platform.

Negative

• None.

Provides Installers with High Quality Leads That Lower Customer Acquisition Costs

FREMONT, Calif., March 15, 2022 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today the acquisition of SolarLeadFactory LLC. Founded in 2012, the company provides high quality leads to solar installers. SolarLeadFactory has joined Enphase with the objective of substantially increasing lead volumes and conversion rates to help drive down the customer acquisition costs for installers.

Enphase has set out to build a digital platform for installers that incorporates tools to design, permit, install, monitor, and maintain solar and battery systems. This acquisition adds lead generation capabilities to that toolset. Enphase will continue to focus on integrating these tools into the digital platform so that its entire network of installers can realize maximum efficiencies in selling to homeowners.

“For the past two years, we have executed on our installer digital platform strategy with the acquisitions of Sofdesk for solar design software, DIN’s solar business for proposal and permitting services, 365 Pronto for O&M platform software, and now SolarLeadFactory for high-quality lead generation,” said Badri Kothandaraman, president and CEO of Enphase Energy. “We chose the SolarLeadFactory team based on their high-quality mindset and operational efficiency. We are pleased to welcome the team and SolarLeadFactory’s customers to Enphase.”

“I’m extremely excited about the ways that Enphase can help us reduce the installer’s customer acquisition costs, which are high in the U.S.,” said Clayton Cornell, CEO of SolarLeadFactory. “By leveraging Enphase resources, we’ll be able to rapidly accelerate improvements in our lead qualification and conversion efforts and deliver on our mission to help the industry increase install rates and more homeowners go solar.”

About Enphase Energy, Inc.

Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 42 million microinverters, and approximately 1.9 million Enphase-based systems have been deployed in more than 130 countries. For more information, visit www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.

© 2022 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, and certain other names and marks are registered trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.

About SolarLeadFactory LLC

SolarLeadFactory is a best-in-class solar lead generation engine on the web. Combining proprietary software and data analytics with decades of solar and marketing experience, SolarLeadFactory is accelerating the adoption rate of solar power. The company has helped hundreds of solar installers grow their businesses and nearly two million potential customers looking to install solar panels. For more information, visit www.solarleadfactory.com or LinkedIn.

Forward-Looking Statements

This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s and SolarLeadFactory’s technology, products and services including operational and cost improvements; the market adoption of our products and services; market demand and growth; and the benefits to installers. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase’s most recent Annual Report on Form 10-K and other documents on file with the SEC and available on the SEC’s website at www.sec.gov. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.

Contact:

Karen Sagot
Enphase Energy, Inc.
Investor Relations
ir@enphaseenergy.com

FAQ

What is the purpose of Enphase Energy's acquisition of SolarLeadFactory?

The acquisition aims to enhance lead generation for solar installers, helping to reduce customer acquisition costs.

When did Enphase Energy announce the acquisition of SolarLeadFactory?

The announcement was made on March 15, 2022.

What benefits will Enphase Energy gain from acquiring SolarLeadFactory?

Enphase is expected to increase lead volumes and improve conversion rates for solar installers.

What is the stock symbol for Enphase Energy?

The stock symbol for Enphase Energy is ENPH.