CAMARILLO, Calif., March 19, 2013 (GLOBE NEWSWIRE) -- Power-One, Inc. (Nasdaq:PWER), a leading global manufacturer of renewable energy and energy-efficient power conversion and management solutions, announced today it has surpassed the one million mark for photovoltaic inverters sold worldwide.
This milestone can be attributed to the significant growth Power-One has experienced over the past several years. In 2010, Power-One took over the number two spot in global market share for solar inverters, with an installed base of 3.2 GW. Today, the Company has an installed base of more than 10 GW, representing a better than three-fold increase in just over two years.
"We are extremely proud of reaching this important milestone of one million inverters sold, and are even more pleased with our impressive global installed base of 10 GW," said Alex Levran, President, Renewable Energy Solutions at Power-One, "This truly speaks to our technology leadership, our steady stream of new and innovative product introductions, our geographic expansion strategy and our strong distribution and post-sales network. We continue to respond to the evolving needs of our customers, by delivering comprehensive solutions across all market sectors and major geographies."
As a leading technology company in the solar inverter category, Power-One has leveraged its innovation to introduce products which are highly regarded in the PV industry, based on their flexibility and performance.
Power-One has launched a steady stream of innovative products over the years, including most recently the ULTRA series of central inverters that deliver the lowest LCOE in the utility-scale segment, the TRIO family of three-phase string inverters designed for commercial rooftop applications that is redefining the way people think about commercial applications, and the Aurora MICRO, a feature-packed alternative for the residential market.
Geographically, the Company has expanded its presence in many countries around the world, including North America, India, Australia, Latin America, Japan, China, the Middle East and Africa and is ideally positioned to serve the global PV market with a full complement of products.
About Power-One
Power-One is a leading provider of renewable energy and energy-efficient power conversion and power management solutions and is the world's second largest designer and manufacturer of photovoltaic inverters. Its renewable energy products enable the industry's highest yielding conversion of power from solar arrays for use by utilities, commercial enterprises and homes. Power-One has a 40 year history as the leader in high efficiency and high density power supply products for a variety of industries including Renewable Energy, Data Storage & Networking, Industrial and Network Power Systems. The company is headquartered in Camarillo, CA and has global sales offices, manufacturing, and R&D operations in Asia, Europe, and the Americas. Power-One is traded on NASDAQ under the ticker symbol PWER. For more information, please visit www.Power-One.com">www.Power-One.com.
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Safe Harbor Statement
Statements made in this press release which state the Company's or management's intentions, beliefs, expectations or predictions for the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and may include statements regarding anticipated future productivity. It is important to note that future performance and actual results could differ materially from those discussed in or underlying such forward-looking statements as a result of risks and uncertainties that cannot be predicted or quantified and that are beyond the Company's control. Important factors that could cause actual results to differ materially include, but are not limited to: economic conditions in general and business conditions in the power supplies and renewable energy markets; foreign exchange rates; the Company's ability to improve its operational and supply chain efficiencies; competitive factors such as pricing and technology; the timing and results achieved in completing product manufacturing transitions to Company facilities in China or other low-cost locations; the threat of a prolonged economic slowdown or a lengthy or severe recession; continued volatility of the financial markets, including fluctuations in interest rates and trading prices of the Company's equity securities; the results of pending legal proceedings; the Company's ability to secure market share in higher margin, high-growth markets; the market growth of product sectors targeted by the Company as sectors of focus; and the Company's ability to increase working capital. Additional information concerning factors that could cause actual results to differ materially from expectations expressed in this press release are described in the Company's reports filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934 from time to time, which are also available through the Company's Website at www.power-one.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov. Power-One undertakes no obligation to publicly update or revise any forward-looking statement.