CAMARILLO, Calif., Aug. 19, 2010 (GLOBE NEWSWIRE) -- Power-One, Inc. (Nasdaq:PWER), a leading provider of renewable energy and energy-efficient power conversion and power management solutions, announced today that it has become the second largest manufacturer, worldwide, of power inverters for the renewable energy industry.
According to independent figures released this week by IMS Research (www.pvmarketresearch.com), Power-One now claims 11% market share of the global Photovoltaic (PV) market. In less than two years, Power-One has jumped from ninth place in 2008 to second at the end of the second quarter of 2010. In the first six months of 2010, Power-One has shipped over 800 MW of inverters.
"Based on the accelerated worldwide demand for our products, we are excited to have achieved this key milestone so quickly," said Alex Levran, President, Renewable Energy Solutions at Power-One. "We have been working hard to expand capacity to serve our customers' needs, while at the same time providing industry-leading inverters that generate high yields."
Two major factors helped Power-One achieve this new position. First, the company has witnessed accelerated sales of its products, based on technology leadership, higher ROI, ease-of-use and a strong distribution and post-sales network. Second, Power-One has increased production capacity by modifying its existing facilities and streamlining operations, meeting increased worldwide demand for its inverters.
Through a number of initiatives, Power-One has expanded the output of its renewable energy facility in Italy to supply current and forecast demand. Today Power-One has the capacity to annually produce more than 2.5 GW of inverters and will achieve a run-rate of over 4.0 GW by the end of 2010. Further, based on forecasts for continued demand of both its solar and wind products, the company has undertaken initiatives to expand production in both Asia and North America.
Power-One offers a wide array of inverters, ranging from 1.6 kW to 2.5 MW. The inverters are sold to the residential, commercial and utility-grade markets in both solar and wind. In addition, Power-One plans to launch a number of new products this year and in 2011, including a 700kW and 1.4 MW liquid-cooled solar inverter, as well as inverters specific to the North American and Chinese markets that meet content and geographic requirements.
To learn more about Power-One and its products and services, please visit www.Power-One.com.
About Power-One
Power-One designs and manufactures energy-efficient power conversion and power management solutions, including inverters for alternative/renewable energy (solar and wind) and products for routers, data storage and servers, wireless communications, optical networking, semiconductor test equipment, industrial markets and custom applications. Power-One, with headquarters in Camarillo, California, has global sales offices, manufacturing, and R&D operations in Asia, Europe, and the Americas. Power-One is a public company listed on NASDAQ under the ticker symbol PWER. For more information about the Company, please visit www.Power-One.com.
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