Enphase Energy (NASDAQ: ENPH) provides solar energy management systems for residential and commercial markets. The company pioneered the industry’s first networked solar energy system, which includes high-efficiency micro-inverters, communications gateways and web-based analytics and visualization. Founded in 2006 and based in Northern California, the company is led by veterans from the solar and high tech industries.
Enphase’s products serve as a great example of a commercialized technology that highlights RockPort’s investment thesis in the photovoltaic industry: a product that lowers the levelized cost of energy. Through the use of its patented technology, Enphase is the first company to come to market with a reliable microinverter which increases energy output, eliminates the single point of failure, and reduces the installation cost of a solar system. RockPort led the Series B round in Enphase because we believed in a superior management team, the compelling value proposition, and the large and growing markets. We were able to leverage our history of solar investment and industry relationships to think through effective growth strategies and to introduce potential customers.