Goldman Sachs Asset Management’s Sustainable Investing business and Cleanhill Partners have acquired a majority stake in EPC Power Corp., a North American supplier of utility-scale smart inverters. The strategic investment, along with a comprehensive recapitalization, positions EPC Power to expand in the U.S. market.
EPC Power’s smart inverters are suited for applications in stand-alone energy storage, solar energy storage and data center backup power. They enable the buildout of battery storage required to support the proliferation of renewable energy generation.
“EPC Power is uniquely positioned to play a critical role in the evolution of the U.S. solar and energy storage value chains and is now well capitalized to continue its trajectory of rapid growth,” states Alexander Mass, managing director of Goldman Sachs Asset Management. “As the only scaled supplier of smart inverters that are designed, engineered and 100 percent manufactured in the U.S., EPC Power is a natural continuation of our thematic investment activity in this space, in partnership with Cleanhill Partners and EPC management.”
EPC Power is based in Southern California, operating its first manufacturing facility in Poway in San Diego County, with a second U.S. manufacturing location on the East Coast scheduled to open in late 2022 to significantly expand production capacity. To support its growing customer base in Europe, EPC Power also maintains an engineering and sales office in Helsinki, Finland.