Enphase Energy Expands Manufacturing Capacity with Flex in Romania
Enphase Energy (NASDAQ: ENPH) has extended its partnership with Flex to boost microinverter production for the European market. Starting in Q1 2023, Flex's factory in Romania will manufacture Enphase microinverters, capitalizing on the growing demand for residential solar amidst rising energy prices. This move aims to enhance delivery times and global production capacity, aligning with Europe’s push for cleaner energy solutions. Enphase's CEO emphasized the significance of this expansion in meeting increasing market needs while maintaining product quality.
- Expansion of manufacturing agreement with Flex to increase microinverter production capacity.
- New facility in Romania improves delivery times to European customers.
- Addresses rising demand for solar energy driven by higher energy prices.
- None.
FREMONT, Calif., April 04, 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 that it has expanded its nearly 15-year relationship with global diversified manufacturer Flex®. Starting in the first quarter of 2023, Flex’s factory in Timisoara, Romania will begin manufacturing Enphase® microinverters for the European market, addressing the region’s rapid growth and demand for residential solar due to rising energy prices and the increased adoption of electric vehicles (EV) and heat pump technology.
The new manufacturing site in Romania enables Enphase Energy to increase global capacity and improve delivery times to its customers in Europe. More clean energy technology like solar and batteries across the continent will provide greater energy security for consumers as the dependence on fossil fuels continues to decline.
“This is a transformational moment for clean energy in Europe and across the globe,” said Badri Kothandaraman, president and CEO of Enphase Energy. “Policymakers are setting ambitious new targets to help accelerate the transition to a more electrified future, and we expect to help meet the growing demand with our leading solar, battery, and EV charging solutions. I want to thank Flex for being such a strong partner in our global manufacturing strategy and supporting our efforts to better serve our customers while maintaining our product quality.”
“Our expanded manufacturing agreement with Enphase is a testament to our mutual commitment to provide high-quality and reliable microinverter-based systems to address Europe’s solar industry needs,” said Revathi Advaithi, CEO at Flex. “We appreciate the trust Enphase has placed in Flex through our nearly 15-year partnership and look forward to quickly ramping in-region advanced manufacturing with sustainable practices.”
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 Energy 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 https://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 Flex
Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.
Forward-Looking Statements
This press release may contain forward-looking statements, including statements related to Enphase Energy's financial performance, market demand and expected availability dates for its products, expected performance and advantages of its technology, market trends, and the availability of our products. 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 Energy’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.
Enphase Energy Contacts:
Investors
Karen Sagot
ir@enphaseenergy.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/632a761f-226d-4e37-b3da-097f8cd5b17f
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