SolarEdge Technologies, Inc. - SEDG STOCK NEWS

SolarEdge Technologies (NASDAQ: SEDG) is set to announce its financial results for the first quarter ended March 31, 2023 on May 3, 2023, after market close. A conference call, open to the public, will commence at 4:30 P.M. ET the same day to review the results. Investors can participate via a toll-free call or international line, with a conference ID of SEDG. A live webcast will be accessible on SolarEdge's Investor Relations page, with a replay available for 30 days post-call. SolarEdge is recognized for its innovative smart energy solutions, including inverters that optimize power generation in photovoltaic systems.

Ecoppia, a leader in robotic cleaning for photovoltaic solar panels, has appointed Mr. Amir Fishelov to its board of directors. Fishelov, co-founder of SolarEdge Technologies (NASDAQ: SEDG), brings over 20 years of experience in solar energy and technology. He previously served as Chief Software Architect and VP Strategy at SolarEdge, which recently joined the S&P 500. His military background includes leading R&D teams in advanced technology. Ecoppia’s cloud-based solutions have cleaned over 8 billion panels globally, with 16GW of signed agreements. Ecoppia aims to leverage Fishelov's expertise to drive innovation and growth.

SolarEdge Technologies, Inc. (SEDG) has reported record revenues of $890.7 million for Q4 2022, reflecting a 61% increase year-over-year. Full-year revenues reached $3.11 billion, up 58% from 2021. The solar segment alone generated $837.0 million in Q4, marking a 66% year-over-year rise. Despite a GAAP operating loss of $5.2 million in Q4, non-GAAP operating profit was a record $149.6 million. GAAP net income decreased to $20.8 million, while non-GAAP net income surged 217% to $171.5 million. The company forecasts Q1 2023 revenues between $915 million and $945 million.

CaPow has raised $7.5 million in a Seed funding round to advance its battery-free, wireless energy delivery system designed for autonomous robotics. The innovative solution aims to eliminate costly and hazardous Lithium-Ion batteries, thereby reducing operational downtime and overall costs in robotic environments. This funding, led by IL Ventures along with several other investors, is expected to enhance CaPow's market presence and expedite product development. The technology has gained positive traction for its potential to improve efficiency and ROI across the logistics sector, allowing for continuous robot operation and reduced fleet size.

SolarEdge Technologies has signed a multi-year agreement with Freedom Forever, a leading U.S. residential solar installer, to supply smart energy products. This includes the SolarEdge Home Smart Energy Ecosystem featuring the SolarEdge Home Hub Inverter, Power Optimizers, Home Battery, and Smart Energy Devices like the EV Charger. The partnership aims to meet the growing demand for solar solutions driven by rising electricity costs and recent regulatory changes, such as California's Net Energy Metering 3.0. SolarEdge's CEO, Zvi Lando, emphasized the importance of this strategic cooperation in enhancing energy efficiency for U.S. homes.

SolarEdge Technologies has launched its Battery Virtual Power Plant in Great Britain, enabling home battery owners to participate in the National Grid ESO Demand Flexibility Service (DFS). This initiative allows users with eligible smart meters to earn financial incentives by using stored energy during peak demand events. The program aims to stabilize the grid while providing homeowners with the opportunity to minimize their grid consumption and maximize their earnings through energy exports. SolarEdge’s technology automatically optimizes battery usage during these events.

SolarEdge Technologies (NASDAQ: SEDG) will announce its Q4 and full-year 2022 financial results on February 13, 2023, after market close. A conference call will follow at 4:30 PM ET on the same day to discuss these results. Investors can join the call via toll-free numbers provided for the US and Canada, or through an international line. The call will also be accessible via a live webcast on the SolarEdge website, with a replay available for about 30 days post-call. SolarEdge continues to lead in smart energy technology, focusing on innovations in energy solutions.

SolarEdge Technologies, a leader in smart energy technology, has announced that it is the first vendor to meet new Dynamic Export requirements set by the South Australian Government. This initiative aims to stabilize the grid through advanced remote cloud control technologies. Starting in July 2023, SolarEdge's systems will enable owners to export up to six times more energy into the grid compared to non-compliant systems, which are limited to 1.5kW. This innovation allows for enhanced energy management without needing additional hardware, marking a significant milestone in renewable energy adaptation.

SolarEdge Technologies (NASDAQ: SEDG) has commenced shipments of its new battery cells for stationary energy storage applications. These cells, produced at the Sella 2 manufacturing facility in South Korea, utilize Nickel Manganese Cobalt (NMC) pouch technology, optimized for various segments including residential, commercial, and utility scale.

The cells boast features like high cycle life (up to 8000 cycles) and high energy density, enhancing their utility in grid-stability applications. With the global stationary storage market projected to increase from 45GWh in 2022 to 164GWh by 2030, SolarEdge aims to bolster its supply chain resilience while meeting the growing demand.