SolarEdge Technologies Acquires Hark Systems for Vitality Analytics

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Zvi Lando

SolarEdge Technologies Inc. has entered right into a definitive settlement to accumulate all the share capital of Hark Systems Ltd. Founded in 2016 and primarily based in Leeds, U.Okay., Hark gives a extremely versatile Software as a Service (SaaS) Internet of Things (IoT) platform that permits enterprises and asset operators to attach, analyze and optimize industrial belongings and energy of their business websites. Hark’s expertise permits fast deployment and commissioning throughout a number of websites. Hark’s buyer base is comprised of numerous industries, together with a number of the largest grocery store chains within the U.Okay.

The acquisition of Hark is anticipated to allow SolarEdge to supply its business and industrial (C&I) prospects expanded capabilities in energy administration and connectivity, together with identification of potential energy financial savings, detection of anomalies in belongings’ energy consumption, and optimization of energy utilization and carbon emissions by means of load orchestration and storage management.

“Hark’s SaaS platform will enable us to grow our extensive commercial and industrial energy management portfolio and offer additional services to our C&I customers,” says Zvi Lando, CEO of SolarEdge Technologies. “Coupled with our smart energy solutions, Hark’s advanced technological capabilities can provide enterprises with greater transparency and control of their energy usage and carbon emissions.”

“SolarEdge has revolutionized how solar energy is harvested and managed and has deployed millions of smart energy management systems globally,” states Jordan Appleson, CEO and co-founder, Hark Systems. “We are excited to be able to be a part of the SolarEdge offering and join their global infrastructure to assist enterprises in the C&I market  to manage their energy in a more efficient and sustainable way.”

The acquisition is topic to sure customary closing circumstances and regulatory approvals and is anticipated to shut in the course of the second quarter of 2023.

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