Enphase Energy, Inc.

Enphase Energy, Inc.

Enphase Energy, Inc.

Overview
Date Founded

2006

Headquarters

1420 North McDowell Boulevard,Petaluma, CA 94954

Type of Company

Public

Employees (Worldwide)

430

Industries

Semiconductors
Alternative Energy
Restaurants
Power & Utilities

Company Description

Only Enphase Energy brings a system-based, high-tech approach to solar energy, leveraging expertise in semiconductor integration, power electronics and networking technologies to continually advance the performance, intelligence and reliability of solar energy systems. Vision Enphase's vision is to make solar simple and energy smart so everyone is empowered to create a zero energy footprint for themselves, their home and their business. Our mission is to build the world's finest networked energy system and revolutionize power generation on a global scale - one solar panel, one kilowatt hour at a time. By combining the power of solar energy and the proven advantages of communications technology, Enphase Energy products make solar power systems productive, reliable, smart and safe – increasing the energy harvest of solar panels by up to 25 percent. Enphase Energy, a publicly-held company based in Northern California, is led by veterans from the solar, telecom, networking and software industries, and backed by leaders from throughout the solar power industry. Our Technology Only Enphase Energy brings a system-based, high-tech approach to solar energy, leveraging expertise in semiconductor integration, power electronics and networking technologies to continually advance the performance, intelligence and reliability of solar energy systems. The Enphase System includes our revolutionary microinverter, groundbreaking data collection and transmission equipment, and powerful web-based analytics and management tools. Read more about our Our Technology. Our Partners Enphase Energy partners include solar equipment distributors who understand and embrace the dramatic improvements that Enphase Microinverter Systems bring to solar power installations, and have invested their resources to promote this breakthrough solution for solar power conversion

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Executives & Employees

Co-Founder

Interim Co-Chief Executive Officer, Vice President & Chief Financial Officer

President & Chief Executive Officer

Chief Marketing Officer

Chief Commercial Officer & Vice President

General Manager-Europe, the Middle East & Africa

Senior Vice President & General Manager for Residential & Commercial Energy Solutions

Head-Media Relations

Senior Director of Strategic Initiatives

Senior Director, Product Management

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Board of Directors

Founder & Director at Cypress Semiconductor Corporation

Professional at G2VP LLC

President & Chief Executive Officer at Enphase Energy, Inc.

Former Executive Vice President, Finance & Chief Financial Officer at SanDisk Corp.

Chief Executive Officer at Landis+Gyr Group AG

Executive Positions at Royal Dutch Shell Plc

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Owners & Shareholders
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Electron Capital Partners manages a long/short utilities and infrastructure fund. The fund invests globally with a focus on: (1) engineering & construction (2) capital goods and related industrials (3) oil services (4) infrastructure (roads, ports, utilities) and (5) oil & gas. Other regional coverage includes Russian utilities, oil & gas and infrastructure and Australian utilities, oil & gas and infrastructure.

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Tenzing Global Management seeks to compound investors' capital significantly over the long term, with low correlation to the broader equity markets. The firm pursues this goal by acquiring for the fund a portfolio of equity and equity-related securities across all sectorsin the US and major international markets and by taking selective short positions in equity securities.

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Old West Investment Management is a growth manager seeks to generate superior returns through independent fundamental analysis of individual companies. The firm offers the following investment strategies: Large-Cap Growth, Small/Mid Cap Growth and Alternative Investments. Their investment approach is based on the idea that superior returns can be achieved while taking below average risks. The firm believes that the markets are predictably inefficient and they seek to identify and capitalize on these through the use of bottom-up fundamental research that is based on expectations of future developments and rigorous understanding of the past.Old West focuses on investments in the securities of financially strong companies with excellent management teams and outstanding economic characteristics. The firm looks for companies that offer the opportunity for growth through reinvestment at high incremental rates of return and companies that can be purchased at market prices that are significantly below their assessment of the underlying business value. Although their investment process is designed to identify companies with strong growth opportunities, Old West believes that smart investing must also consider value.The firm's bottom-up research process starts with the entire universe of publicly-traded companies. Old West narrows this universe into a more focused universe through the analysis of: (1) insider ownership/buying and selling (2) select 13-F and 13-D smart money screens (3) industry contacts/insights (4) special situations such as stubs, spin offs and restructurings and (5) large percentage stock price moves. Potential buy and sell candidates are identified through extensive management analysis, industry analysis, financial analysis and qualitative analysis.Old West's Large-Cap Growth strategy seeks to generate superior returns with below average risk through investments in large-cap securities. Old West invests primarily in US companies with market-caps greater than $7 billion. They may occasionally invest in mid-cap and small-cap stocks and ADRs, if the company offers a favorable risk-return profile. The strategy invests in growth stocks and focuses on the underlying value of the company to protect the portfolio from principal loss. The preferred benchmark for the strategy is the Russell 1000. Portfolios typically hold the stocks of 30 to 40 companies. Old West's Large-Cap Growth strategy does not invest in derivatives, new issues or employ the use of leverage. Average position sizes are approximately 3% of the portfolio weighting. The maximum position at cost is 5%. The maximum position at market is 8%. The maximum sector weight is 25%. Average expected turnover is 30% to 40%.Old West's Small/Mid-Cap Growth strategy seeks to generate superior returns with below average risk through the investments in the securities of mid- and small-cap companies. The strategy invests in growth stocks and focuses on the underlying value of the company to protect the portfolio from principal loss. Portfolios are structured from the bottom-up and are typically invested in companies with market-caps of less than $10 billion. The emphasis is on smaller businesses that are not followed by traditional investment firms. The preferred benchmark for the strategy is the Russell 2500. Portfolios typically hold the stocks of 30 to 40 companies. Old West's Small/Mid-Cap Growth strategy does not invest in derivatives, new issues or employ the use of leverage. The maximum position at cost is 5%. The maximum position at market is 8%. The maximum sector weight is 25%. Average expected turnover is 30% to 40%.

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Recent Transactions
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Sunsystem Technology LLC purchases Next Phase Solar, Inc. /Commercial Services Div from Enphase Energy, Inc.

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MaxGen Energy Services Corp., MaxGen Energy Services LLC purchase Next Phase Solar, Inc. from Enphase Energy, Inc.

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Enphase Energy, Inc. issued Common Stock

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Insider Transactions
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Transaction Advisors
Escrow Agent

Advised onEnphase Energy, Inc. issued Common Stock

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Advised onEnphase Energy, Inc. issued Common Stock

Auditor

Advised onEnphase Energy, Inc. issued Common Stock

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Legal Advisor

Advised onEnphase Energy, Inc. issued Common Stock

Managing Director, Head of West Coast Investment Banking

Advised onEnphase Energy, Inc. issued Common Stock

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Advisors & Consultants
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Consultant

Former President & Chief Executive Officer at Enphase Energy, Inc.

Advisor

Senior Vice President of Global Sales at Plantronics, Inc.

Publicist

Managing Partner at KiterRocket LLC

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Clients

Since 1985 SunPower has been leading global solar innovation. SunPower® solar panels consistently deliver more energy and long-term peace of mind with the highest performing solar power systems available. SunPower is the solar energy choice of more homeowners and businesses around the world.

IDACORP, Inc. operates as a holding company, which engages in the generation, transmission, distribution, sale and purchase of electric energy. Its subsidiaries include: Idaho Power Co., a regulated electric utility; Idacorp Financial Services, Inc., an investor in affordable housing projects and real estate; and Ida-West Energy Co., an operator of small hydroelectric projects. The company owns and operates hydroelectric plants on the Snake River and its tributaries. It also owns two natural gas-fired power plants and partial interest in three coal-fired generating stations. IDACORP was founded on October 1, 1998 and is headquartered in Boise, ID.

GDF SUEZ develops its businesses (power, natural gas, services) around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production and environmental services. GDF SUEZ employs 219,300 people worldwide and achieved revenues of €97 billion in 2012. The Group is listed on the Paris, Brussels and Luxembourg stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone, Vigeo World 120, Vigeo Europe 120 and Vigeo France 20.

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Key Stats and Financials As of 2016
Market Capitalization
$196M
Total Enterprise Value
$67.2M
Earnings Per Share
$-1.34
Revenue
$323M
Net Profit
$-67.5M
EBITDA
$-48.3M
EBITDAMargin
-14.97%
Total Debt
$33.9M
Total Equity
$1.3M
Enterprise Value Sales
0.21x
TEVNet Income
-1x
Debt TEV
0.5x
Three Year Compounded Annual Growth Rate Of Revenue
11.48%
Five Year Compounded Annual Growth Rate Of Revenue
16.62%
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Investors
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Co-Founder at Enphase Energy, Inc.

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Co-Founder at Enphase Energy, Inc.

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Bridge Capital Holdings is a bank holding company. The company is engaged in general commercial banking business, and accepts checking and savings deposits, makes commercial, real estate, auto and other installment and term loans, and provides other customary banking services. It also provides specialized services to its customers include courier deposit services to key locations or customers throughout the Bank's service area, small business administration loans, factoring and asset-based loans and Internet banking. The company was founded on April 6, 2004 and is headquartered in San Jose, CA.

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Suppliers
Fujitsu Limited Electrical Products | Tokyo, TY

Fujitsu Ltd. engages in the field of information and communication technology. It operates through the following segments: Technology Solutions, Ubiquitous Solutions, Device Solutions, and Others. The Technology Solutions segment delivers services that integrate products, software, and services such as systems integration, infrastructure services, and network products. The Ubiquitous Solutions segment provides ubiquitous terminals, including personal computers, mobile phones, car audio, navigations systems, mobile communication equipment, and automotive electronic tools. The Device Solutions segment deals with large scale integration devices used in digital home appliances, automobiles, mobile phones, servers, and electronic components such as semiconductors and batteries. The Others segment handles operations not included in the reportable segments such as Japan's Next-Generation Supercomputer project, facility services, and the development of information systems for group companies, and welfare benefits for group employees. The company was founded on June 20, 1935 and is headquartered in Tokyo, Japan.

PHOENIX CONTACT GmbH & Co. KG Electrical Products | Blomberg, NW

Phoenix Contact GmbH & Co. KG specializes in industrial automation, interconnection and interface solutions. It offers open charging station, control cabinet, field installation, and device and connection technology products. The company was founded in 1923 by Hugo Knümann and is headquartered in Blomberg, Germany.

Flex Ltd. Engineering, Construction & Architecture | Singapore, CE

At Flextronics, impossible is where breakthrough begins. As a socially-responsible, global leader in design, manufacturing, distribution and aftermarket services, Flextronics is unique in its ability to provide end-to-end solutions through its innovative and proprietary systems — all to enhance customer competitiveness and success. Working across four business groups and several business units, Flextronics is able to unleash the full potential of the world’s most valuable brands and new ventures. What Flextronics creates is value. By increasing speed to market and driving competitive positioning for customers, Flextronics in essence solves customers’ most challenging problems better, faster and more cost effectively than any other company. Flextronics is able to manage big data in a way that allows for trending in market environments that are in flux, allowing the Company to provide solutions for customers, often before a challenge is ever realized. Flextronics is unique in the depth, breadth and scope of the Company. With an unmatched global presence, customers are supported with unprecedented speed in product ramp-up, delivery, and the ability to manage volume regardless of complexity or product mix. Leveraging state-of-the-art LEAN practices, Six Sigma, key investments in infrastructure and FlexQ, a propriety quality program that is beyond leading edge according to customers, Flextronics is the market leader in almost every business in which it operates. Whether high mix/low volume or low mix/high volume, Flextronics can enable any customer's success. At Flextronics, there is no room for “mediocrity.” If anything, the Company exists to continually test the bounds of what can be expected in terms of designs and processes. Optimization is what Flextronics does best. People make the difference. People with passion have an even greater impact. The Flextronics team spans 30 countries and four continents, and is over 200,000 people strong. Each member of the team is dedicated to enabling customer success. That is achieved through intense collaboration, passionate customer focus, thoughtful and disciplined execution, a tenacious commitment to continuous improvement and a relentless drive to win. Culture is the most important sustainable, competitive advantage of any company. The Flextronics culture is built on commitment — to customers, employees, the communities in which it operates and the environment. Flextronics is a global leader in non-profit/for-profit partnership, providing assistance in the places around the world that need it most. The Flextronics Foundation provides assistance in the areas of natural disaster relief, health and wellness initiatives and educational opportunities. Culture drives every aspect of the Company’s success. The culture and business model work hand-in-hand to ensure simplicity, flexibility and above all — sustainability.

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Competitors
SunPower Corp. Semiconductors - SAN JOSE, CA

Since 1985 SunPower has been leading global solar innovation. SunPower® solar panels consistently deliver more energy and long-term peace of mind with the highest performing solar power systems available. SunPower is the solar energy choice of more homeowners and businesses around the world.

ABB Ltd. Electrical Products - Zurich, ZH

ABB Ltd. is a holding company, which engages in the development and provision of power and automation technologies. It operates through the following segments: Electrification Products; Discrete Automation and Motion; Process Automation; Power Grids; and Corporate and Other. The Electrification Products segment produces and markets low and medium-voltage switchgear, breakers, switches, control products, wiring accessories, and installation materials. The Discrete Automation and Motion segment manufactures and trades motors, generators, speed drives, robots and robotics, solar inverters, wind converters, rectifiers, excitation systems, and protection solutions. The Process Automation segment designs and commercializes control and plant optimization systems for the oil, gas and petrochemicals, metals and minerals, marine, pulp and paper, pharmaceuticals, and power industries. The Power Grids segment offers automation products and systems for power generation, transmission, and distribution. The Corporate and Other segment refers to the firm's administrative operations. The company was founded on January 5, 1988 and is headquartered in Zurich, Switzerland.

SolarEdge Technologies, Inc. Industrial Machinery & Manufacturing - Hod Ha'Sharon, TA

SolarEdge Technologies, Inc. engages in the operation of inverter solution for the harvesting and managing of photovoltaic solar power. Its products include power optimizer, inverter and monitoring portal. The company was founded by Guy Sella, Lior Handelsman, Yoav Galin, Meir Adest and Amir Fishelov in 2006 and is headquartered in Hod HaSharon, Israel.

Awards & Honors
2013
World Economic Forum - Technology Pioneers