Enphase acquires ClipperCreek EV chargers
Enphase Energy has announced that it has agreed to acquire ClipperCreek. ClipperCreek, based in Auburn, California, provides EV charging solutions for residential and commercial customers in the US. ClipperCreek has pioneered the EV charging market since 2006 and has sold more than 110,000 Level 2 AC charging stations since its inception.
Electric vehicle sales are expected to grow at more than 40% per year in the US over the next five years, creating a large and fast-growing market. The increasing penetration of EVs has implications for home energy management, as households not only consume significantly more power with an EV, but also have a large battery that can be used for both backup and network services. This acquisition extends Enphase’s leadership into residential electrification by leveraging its power conversion and software platform to manage loads and resources in the home.
The acquisition is expected to deliver the following benefits:
- Provides Enphase distributors and installers worldwide EV charging solutions that can be sold alongside solar and battery systems
- Launches Enphase into the fast-growing EV sector with a respected brand and industry-leading products
- Accelerates the Enphase roadmap to enable bi-directional charging for vehicle-to-home and vehicle-to-grid applications
- Establishes a Domestic Manufacturing Footprint for Enphase
“We were immediately drawn to ClipperCreek’s strong consumer brand, excellent product quality and emphasis on customer experience,” said Badri Kothandaraman, president and CEO of Enphase Energy. “Jason has managed to build one of the leading EV charging companies while remaining profitable and showing gross margins in line with Enphase. We are very excited to introduce ClipperCreek to our distributors and installers around the world. We look forward to building on the current product base and adding smart features in the future, such as cloud connectivity, integration into the EnsembleOS platform and bi-directional charging. Managing EV charging is an integral part of our strategy.”
The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close on December 31, 2021.
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