German conglomerate Siemens has agreed to acquire the string inverter business of KACO new energy, an energy-related power electronics manufacturer, for an undisclosed amount.
Image: Siemens will strengthen its inverter business with this acquisition. Photo: Courtesy of KACO new energy GmbH.
Siemens expects to close the transaction in the first half of this year. KACO new energy is a Neckarsulm, Germany-based business that operates in nine countries and is supported by more than 350 employees.
The company’s product line includes full power range, from from inverter units designed for a family home, commercial buildings and infrastructures to complete systems for solar parks producing megawatts of electricity.
The company is touted to focus on fast growing segments in string inverters for solar and storage applications, up to 1500V and using the latest semi-conductors. It has also claimed to have developed next generation inverter technology based on silicon carbide (SiC), which could lead to better power density and superior thermal behavior for installation in demanding environments.
Siemens new future grids business head Jean-Christoph Heyne said: “Siemens is in a strong position to succeed in technology that supports the energy and mobility transition. The acquisition of KACO new energy enhances our portfolio in attractive growth segments at the grid edge.
“Our new Smart Infrastructure Operating Company comes into operation on April 1, 2019 where our strength in electrification and buildings will enable us to thrive in the market and continue to expand in the areas of decentral energy, renewables, storage and electric vehicle charging infrastructure.”
By KACO new energy’s acquisition, Siemens aims to strengthen its technological superiority in decentralized energy systems and will provide corresponding benefits to its customers.
Since 1999, KACO new energy claims to have supplied inverters with a cumulative power output of 13GW.
Last month, the company launched the Junelight Smart Battery, a battery storage system specially designed for homes, which can help in storing self-generated energy. The lithium-ion storage combines functions for intelligent and safe energy management.