SolarEdge To Acquire Hark Systems

• SolarEdge has announced its decision to invest in and acquire Hark Systems Ltd
• The company aims to support its C&I customers to help them optimize their energy usage and management
• Software support in the form of analytics and IoT will provide the companies greater control over their carbon emissions, said SolarEdge

SolarEdge Technologies, Inc is acquiring UK based energy analytics and internet of things (IoT) company Hark Systems Ltd in a move that it believes will help its commercial and industrial (C&I) customers expand their capabilities in energy management and connectivity.

With Hark's flexible software as a service (SaaS) platform, the Israel based solar inverter manufacturer says its customers will be able to identify potential energy savings, detect anomalies in assets' energy consumption, thereby optimizing their energy usage and carbon emissions through load orchestration and storage control.

SolarEdge Technologies CEO Zvi Lando said, "Coupled with our smart energy solutions, Hark's advanced technological capabilities can provide enterprises with greater transparency and control of their energy usage and carbon emissions." The company also operates in the space of storage, EV charging, batteries, electric vehicle powertrains, and grid services solutions.

Catering to a number of industries, Hark says its technology allows users to connect, analyze and optimize industrial assets and energy in commercial sites. It is also easy and swift to install across multiple sites.

"SolarEdge has revolutionized how solar energy is harvested and managed and has deployed millions of smart energy management systems globally. We are excited to be able to be a part of the SolarEdge offering and join their global infrastructure to assist enterprises in the C&I market to manage their energy in a more efficient and sustainable way," stated Jordan Appleson, CEO and Co-Founder of Hark Systems.