Power-One Enters Into Strategic Alliance With Panasonic
05 Febbraio 2013 - 3:00PM
Power-One, Inc. (Nasdaq:PWER), a leading global manufacturer of
renewable energy and energy-efficient power conversion and
management solutions, and Panasonic Corporation (NYSE:PC), a
worldwide leader in the development and manufacture of electronic
products and solutions, announced today that they have entered into
a strategic alliance to develop, produce and market energy storage
systems for the residential and non-residential markets worldwide
combining Power-One inverters with Panasonic lithium-ion batteries
and systems.
As part of the agreement, the companies will leverage their
respective research and development and sales and marketing
resources for joint product and market development around the
world. Initial efforts will focus on developing the residential,
commercial and utility-scale, grid-connected, energy storage
systems business in Europe and the U.S. as well as the
non-residential segment in Japan. Additionally, the companies have
committed to develop the large-scale commercial and utility
photovoltaic inverter business in Japan.
"We are thrilled to be aligned with such an innovative company
and house-hold brand as Panasonic," said Dr. Alex Levran,
President, Renewable Energy Solutions at Power-One. "Energy storage
resources will greatly increase the adoption, use and
sustainability of renewable energy systems throughout the world in
homes, businesses, and in large utility plants. Panasonic's
strengths lie in the development, production and sale of products
like their home energy management systems (HEMS) and lithium-ion
battery cells, which are vital for power storage systems. Combining
Panasonic's expertise in battery and battery storage with our
advanced inverter technology should prove to be an unbeatable
combination."
"We are pleased to collaborate with Power-One, a global leader
in the power inverter business," said Mr. Tamio Yoshioka, Managing
Officer, Director of Energy System Business Group at Panasonic Eco
Solutions Company. "With the combination of Panasonic's strengths
in energy management technology and related products and
Power-One's breadth of expertise in power inverter technology, we
are well positioned to develop the energy storage systems business
around the world, as well as expanding the non-residential segment
of the energy management business in Japan."
Energy storage systems have been garnering a lot of attention
lately for their ability to reduce investment in equipment through
power leveling and the reduction of peak power consumption in large
scale renewable energy systems as well as for their use as backup
power supplies in the event of natural disasters and other
emergencies. It is estimated that the size of the global market for
energy storage systems will exceed $11 billion by 2020, mainly in
Europe, North America, and Japan, where renewable energy technology
is now being adopted.
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.
About Panasonic
Panasonic Corporation is a worldwide leader in the development
and manufacture of electronic products in three business fields,
consumer, components & devices, and solutions. Based in Osaka,
Japan, the company recorded consolidated net sales of 7.85 trillion
yen for the year ended March 31, 2012. Panasonic's stock is listed
on the Tokyo, Osaka, Nagoya and New York (NYSE:PC) Stock Exchanges.
The company has the vision of becoming the No. 1 Green Innovation
Company in the Electronics Industry by the 100th year of its
founding in 2018. For more information on Panasonic, its brand and
commitment to sustainability, visit the company's website at
http://panasonic.net/.
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.
CONTACT: For Press Inquiries, please contact
Chris Lawson, Global Director, Marketing Communications
Tel.: +1 480-643-1758
Email: Chris.Lawson@power-one.com
For Investor Relations, please contact
Larry Clark - Investor Relations for Power-One
Tel.: +1 (310) 478-2700 ext. 29
Email: Investor.Relations@Power-One.com
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