Advanced Energy logo energy manage

Advanced Energy to Sell Solar Inverter Business

Advanced Energy logo energy manageAdvanced Energy Industries is exploring strategic alternatives for its solar inverter business. The company is considering various options including sale, joint venture, partnership, licensing or other alternatives including additional product line optimization and rationalization, in order to maximize shareholder value.

The company plans to continue offering its inverter products and services and supporting its customers during this process. The company said it does not plan to disclose or comment on developments until it deems further disclosure to be appropriate.

As a result of the company’s strategic review and resulting retirement of certain central inverter legacy products, the company expects to record a non-cash inventory charge of between $10 and $14 million in the fourth quarter. This non-cash inventory charge will reduce net income and earnings per share on a GAAP-basis for the fourth quarter and full year 2014, but the company expects to exclude this charge from its calculation of non-GAAP net income and non-GAAP earnings per share for such periods, as a non-cash, non-recurring charge.

The announcements comes less than two years after signing on as an industry partner with the DOE the National Renewable Energy Laboratory (NREL) to work at the Energy Systems Integration Facility (ESIF) in Golden, Colorado to develop lower cost, better performing solar power inverters.

Financing Environmental Resiliency and a Low-Carbon Future with Green Bonds
Sponsored By: NSF International

Approaches to Managing EHS&S Data
Sponsored By: Enablon

Packaging LED & Advanced Rooftop Unit Control (ARC) Retrofits for Maximum Performance
Sponsored By: Transformative Wave

Four Key Questions to Ask Before Your Next Energy Purchase
Sponsored By: EnerNOC, Inc.


Leave a Comment

User Name :
Password :
If you've no account register here first time
User Name :
User Email :
Password :

Login Now