Enphase Energy 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,’ says Paul Nahi, president and CEO of Enphase Energy. ‘This financing will be used to ramp up manufacturing, accelerate new product development and expand into new geographic markets.’
SOURCE: Enphase Energy