Solar Edge Facility in America (solaredge.com)
SolarEdge, an Israeli producer of alternative energy resources, is planning on issuing more stock that the company expects to bring in a windfall of $600 million. According to Globes, that company has filed a prospectus with the SEC to issue 2,000,000 new shares on the NASDAQ. Underwriters Goldman Sachs and J.P. Morgan and Morgan Stanley the option to buy another 300,000 shares which, if taken, would add as much as another $90 million.
SolarEdge first went public in January 2021. At the time it set a record for an Israeli public corporation, hitting a valuation of almost $18 billion. Today its market cap is still above $17 billion.
Oil prices are spiking and the average cost of gasoline is going up everywhere because of the current crisis in Ukraine and the sanctions against Russian oil and gas. As a result, interest in alternative energy development has once again increased. If the climate crisis was not enough to scare people into doing something about developing more renewable forms of energy, high prices at the gas pump and higher electric bills certainly will.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
Founded in 2006, SolarEdge is a global leader in smart energy technology. The company states that it creates smart energy solutions that “power our lives and drive future progress.”
SolarEdge developed the DC optimized inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge intelligent inverter solution maximizes power generation while lowering the cost of energy produced by the PV system, for improved RoI.
The company says that it addresses a broad range of energy market segments through its diversified product offering, including residential, commercial and large scale PV, battery storage and backup solutions, EV charging, home energy management, grid services and virtual power plants, and uninterrupted power supply (UPS) solutions.
