SolarEdge and Huawei Sign Global Patent License Agreement, Settle Litigation

Rhea-AI Summary

SolarEdge Technologies (NASDAQ: SEDG) has entered into a global patent license agreement with Huawei Technologies. This agreement includes a cross-license covering patents for both companies' products and resolves all pending patent litigation in Germany and China. Specific terms remain confidential, but this settlement signifies a positive step by eliminating legal disputes.

Positive

• Patent litigation between SolarEdge and Huawei has been resolved, improving legal standing.
• Cross-licensing agreement may enhance product collaboration and innovation.

Negative

• None.

MILPITAS, Calif. & HERZLIYA, Israel--(BUSINESS WIRE)-- SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy, and Huawei Technologies Co., Ltd., have agreed on a global patent license agreement between the two companies. The agreement includes a cross license that covers patents relating to both companies' products, and grants certain other rights. In addition, the agreement will result in a settlement of all pending patent-litigation between the companies.

The specific terms of the agreement are confidential. This agreement ends lawsuits between the companies that were pending in Germany and China.

About SolarEdge

SolarEdge is a global leader in smart energy. 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, UPS, electric vehicle powertrains, and grid services solutions. SolarEdge is online at solaredge.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20220519005760/en/

SolarEdge Technologies, Inc.

Ronen Faier, Chief Financial Officer

+1 510-498-3263

investors@solaredge.com

Sapphire Investor Relations, LLC

Erica Mannion or Michael Funari

+1 617-542-6180

investors@solaredge.com

Source: SolarEdge Technologies, Inc.

FAQ

What is the recent agreement between SolarEdge Technologies and Huawei?

SolarEdge and Huawei have signed a global patent license agreement, which includes a cross-license for patents and resolves pending litigation.

What does the patent license agreement mean for SolarEdge (SEDG)?

The agreement helps SolarEdge eliminate ongoing legal disputes, which may positively impact its operational focus and market position.

Where were the lawsuits between SolarEdge and Huawei located?

The lawsuits were pending in Germany and China before the settlement.

Are the terms of the SolarEdge and Huawei agreement public?

No, the specific terms of the global patent license agreement are confidential.