Enphase Energy Inc., a global energy technology company and a supplier of microinverter-based solar and battery systems, is acquiring ClipperCreek. Based in California, ClipperCreek offers electric vehicle (EV) charging solutions for residential and commercial customers in the U.S. Started in 2006, ClipperCreek has sold more than 110,000 Level 2 AC charging stations since its inception.
“We were immediately drawn to ClipperCreek’s strong consumer brand, excellent product quality and emphasis on customer experience,” says Badri Kothandaraman, president and CEO of Enphase Energy. “Jason has managed to build one of the leading EV charging companies, while remaining profitable and demonstrating gross margins in-line with Enphase. We look forward to building upon the current product base while adding smart features such as cloud connectivity, integration into the EnsembleOS platform and bi-directional charging in the future.”
The acquisition provides Enphase distributors and installers globally with EV charging solutions that can be sold alongside solar and battery systems. It will also enable Enphase to have bi-directional charging capability for vehicle-to-home and vehicle-to-grid applications.
“The EV industry has reached a tipping point, as consumers are demanding cleaner ways of getting around other than from cars with internal combustion engines,” states Jason France, founder and CEO of ClipperCreek. “With Enphase’s leading power conversion technology, manufacturing expertise and deep distribution relationships, I believe we will jointly achieve my founding objective of improving the environment for current and future generations through the promotion of the plug-in electric vehicle industry.” The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close by December 31, 2021.