Enphase Energy Secures $22.5 Million in Financing
Date: 05/18/2009
Company: Enphase Energy
Source: Earth Times
PETALUMA, CA — 05/18/09 — Enphase Energy, the global leader in solar microinverter systems, today announced it has secured $22.5 million in new financing, led by Madrone Capital Partners. This round of funding also includes new investor Bay Partners as well as existing investors Third Point Ventures, RockPort Capital Partners and Applied Ventures, LLC.
“We are experiencing exceptional demand for our microinverter systems. This financing will be used to ramp up manufacturing, accelerate new productdevelopment, and expand into new geographic markets,” said Paul Nahi, President and CEO of Enphase Energy. “Madrone Capital Partners has a proven track record of working with high growth companies and turning them into global leaders.”
“The Enphase Energy team has demonstrated extraordinary innovation and execution and we are excited to be an investor in a company that is poised to extend its leadership in solar inverters,” said Jamie McJunkin, General Partner at Madrone Capital. “This capital will give Enphase the resources necessary to further accelerate its growth.”
Media Contact
for general media inquiries contact:
media@rockportcap.com