SolarEdge Plans To Acquire Hark Systems To Boost Its Energy Management Skills

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In recent years, SolarEdge has been growing its product line in the UK and across the globe for energy management. In order to analyse and improve the operation of industrial and energy assets, Hark provides software as a service (SaaS) and IoT services.

Solar industry giant SolarEdge has acquired UK-based energy analytics and internet of things (IoT) business Hark Systems. The company with its headquarters in Israel will be able to provide its corporate and industrial (C&I) clients more capacity to manage their energy assets thanks to the acquisition.

In order to optimise energy usage and carbon emissions for its C&I customers, SolarEdge plans to take advantage of its capabilities in energy management and connectivity, including the identification of potential energy savings, detection of anomalies in assets’ energy consumption, and load orchestration and storage control. In Q2 2023, the acquisition is anticipated to be finished.

With a 90% revenue increase year-over-year in Europe, SolarEdge achieved record sales and inverter shipments in Q3 2022. In order to enhance imports into the US and lessen the effects of tariffs on its operations, it also announced intentions to increase its Mexican production capacity in February of last year.

The company has continuing to broaden its reach in the UK; in 2021, it will introduce a 100kW three-phase inverter with synergy technology as well as a new smart energy management system for homes.