Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY), a global leader in power semiconductors, and SolarEdge Technologies, Inc. ("SolarEdge") (NASDAQ: SEDG), a global leader in smart energy technology, today announced the signing of a multi-year Capacity Reservation Agreement (CRA).
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Extending the existing partnership, Infineon will supply SolarEdge with critical components for a variety of SolarEdge products. In addition to the CRA the companies will collaborate on the development of future technologies and cutting-edge solar products based on wide bandgap materials that are key for global green energy supplies.
"We are excited to expand our strategic partnership with SolarEdge for mutual innovation in green energy technologies and decarbonization", said Andreas Urschitz, Chief Marketing Officer at Infineon. "Our long-lasting partnership with SolarEdge is an enormous asset for both companies that paves the way for breakthrough-innovation and accelerated growth, as we combine our expertise and resources. With the latest investments in silicon carbide (SiC) and gallium nitride (GaN) manufacturing capacity, Infineon underlines its commitment to be a leading partner in climate technologies such as solar power."
Uri Bechor, Chief Operating Officer at SolarEdge said: "Securing the capacity level of critical components such as power and wide band gap from Infineon further enhances SolarEdge's supply chain resiliency. This capacity reservation agreement with Infineon is in line with our strategy to continue leading the global industry in solar energy advancement."
Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 56,200 employees worldwide and generated revenue of about EUR14.2 billion in the 2022 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).
SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, electric vehicle powertrains, and grid services solutions. Visit us at: solaredge.com
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SOURCE: SolarEdge Technologies, Inc.
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