The two companies join forces to offer ROI-accelerating module-level power harvesting optimization solutions for large commercial and utility PV systems. SolarEdge will also distribute Woodward's SOLO product family in Israel.
Fort Collins, Colo., October 17th, 2012. Woodward, Inc. (NASDAQ: WWD) and SolarEdge Technologies, a leading global provider of end-to-end solar power optimization systems and PV monitoring solutions, announced today their partnership to offer a superior utility scale PV power optimization system. The synergy between the extensive Woodward's knowledge of utility scale PV inverters and SolarEdge's innovative power optimization solution creates a unique offering in the industry. This offering allows for increased energy output, reduced installation and maintenance costs, resulting in shorter payback times on large system investments.
Woodward is an independent designer, manufacturer, and service provider of control solutions for the energy and aerospace markets. With over 20GW of utility-scale, grid-connected inverters installed, Woodward is a respected leader in innovative power conversion systems for the wind, solar, marine, and energy storage markets. Woodward's SOLO product line features compact, high efficiency, liquid-cooled solar inverters ranging from 100kW up to 2.5MW. Woodward inverters are designed for challenging environments with extended temperature ranges (-40°C - +55°C) and for high altitude configurations (up to 3,500 meters). Woodward brings a strong technical background, a long-standing tradition of integrity, and a dedicated customer focus for long term partnership.
SolarEdge is a world leading provider of module-level power optimization systems. The SolarEdge power optimizers prevent power losses caused by panel mismatch, soiling and partial shading and thus enable up to 25% more power production. Module-level power optimizers also enable per module performance monitoring for cost efficient and advanced maintenance. The unique SafeDC™ feature of the power optimizers enables automatic DC voltage shutdown ensuring maximum safety for installers, maintenance personnel and firefighters. SolarEdge is bankable with major European and North American banks and solar financing institutes.
"SolarEdge is committed to the promotion of module-level power electronics as the optimal solution to enhance grid parity in all market segments," said, Lior Handelsman, SolarEdge Founder and VP of Product Strategy. "In addition, Woodward has vast experience and knowledge in utility and commercial-scale solar installations, making them the ideal partner for SolarEdge to offer a solution for this segment."
"This significant and strategic opportunity with SolarEdge will enable us to capture and increase our growing share within the worldwide PV market and Israel," said Mustafa Yurtsever, GM Woodward Switzerland AG. "Building on the success, experience and a track record of worldwide installations, we are proud to have SolarEdge become one of our leading partners."
About Woodward, Inc.
Woodward is an independent designer, manufacturer, and service provider of control solutions for the aerospace and energy markets. Our aerospace systems and components optimize the performance of fixed wing and rotorcraft platforms in commercial, business and military aircraft, ground vehicles and other equipment. Our energy-related systems and components enhance the performance of industrial gas and steam turbines, reciprocating engines, compressors, wind turbines, solar power plants, electrical grids and other energy-related industrial equipment. The company's innovative fluid energy, combustion control, electrical energy, and motion control systems help customers offer cleaner, more reliable and more efficient equipment. Our customers include leading original equipment manufacturers and end users of their products. Woodward is headquartered in Fort Collins, Colorado, USA. Visit our website at www.woodward.com.
About SolarEdge Technologies
SolarEdge Technologies provides end-to-end distributed solar power optimization and PV monitoring solutions, allowing maximum energy production for faster ROI. The SolarEdge power optimizers perform MPPT per individual module while monitoring the performance of each module. The high efficiency SolarEdge inverter is tailor-made to work with power optimizers. The SolarEdge system provides optimal power, flexible design and full roof utilization. Module-level electronics enable enhanced maintenance and increased system safety with the SafeDC™ mechanism. SolarEdge is online at www.solaredge.com