SolarEdge Technologies, as part of its focus on its core solar activities, will cease all activities of its Energy Storage division.
The decision will result in a 500 employee reduction, most of whom are in South Korea. The expected quarterly operating expenses savings due to the closure are approximately $7.5 million with the full run rate expected to be achieved by the second half of next year.
The company intends to sell the assets related to the storage division activities, including its manufacturing facilities for battery cells and packs. This decision is not expected to impact the solar business sale of batteries for residential and C&I markets.
“The decision to close our Energy Storage division was the result of a thoughtful analysis of our portfolio of businesses and product lines, industry trends and the competitive environment,” says Ronen Faier, interim CEO of SolarEdge.
“The measures also represent continued execution of two of our main priorities: financial stability through cost reduction, return to cash flow positivity and profitability; and focus on our core business lines of solar, PV-attached storage and energy management capabilities. I wish to thank our Energy Storage division employees for all of their efforts in building this business.”
The post SolarEdge Closes Energy Storage Division appeared first on Solar Industry.
Some people may be, but, to a person, the foreigners I’ve met are deeply saddened, and terrified of the consequences of the Trump regime.
Their feeling is simply that America re-elected a convicted felon, rapist, and traitor who attempted to overthrow the U.S. federal government. If we’re willing to do that, we’re capable of anything, regardless of how depraved.
I’ve never understood why those who compose total bullshit like this don’t go for the gusto. Why 95% and not 99% or 100%?
Trump’s actual approval rating among Republicans is somewhere between 75% and 80%, as can be easily verified by anyone on Earth with a cell phone or computer. That number continues to dwindle, as he faces more pressure regarding the war, gas prices, child rape, etc.
Obviously, the president’s supporters are suckers for his lies, but isn’t this a bit over the top?
I get a call every week or so from someone working for a start-up in oil exploration, hoping that I’ll invest. I guess my name and cell number got collected somehow from various online searches I’ve made.
I’m always quick to explain, “Oh, sorry, I don’t support wrecking the planet, even if I can profit from it. Neither should you. Bye now.”
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