SolarEdge Opens 2GWh New Battery Cell Facility in South Korea to Meet Growing Demand for Battery Storage

New facility to drive energy storage solutions sales, supply chain resilience and product innovation

MILPITAS, Calif. & PANGYO, South Korea–(BUSINESS WIRE)–SolarEdge Technologies, Inc. (“SolarEdge”), a global leader in smart energy technology, and SolarEdge’s subsidiary, Kokam Limited Company, a provider of lithium-ion batteries and integrated energy storage solutions, announced today the opening of “Sella 2”, a two gigawatt-hour (GWh) battery cell manufacturing facility. Located in the Eumseong Innovation City of Chungcheongbuk-Do, South Korea, Sella 2 is currently producing test cells for certification, with ramp-up expected during the second half of 2022.

Once ramped, Sella 2 will enable SolarEdge to have its own supply of lithium-ion batteries and the infrastructure to develop new battery cell chemistries and technologies. The facility is planned to manufacture battery cells for SolarEdge’s residential solar-attached batteries as well as battery cells for a variety of industries, including mobile applications, energy stationary storage solutions (ESS) and UPS applications. The facility can scale its battery cell capacity in the future to support the growing needs for storage solutions offered by the company.

Zvi Lando, Chief Executive Officer of SolarEdge, commented: “The opening of Sella 2 is an important milestone for SolarEdge. It allows us to own key processes in the development and manufacturing of advanced energy storage solutions for our solar core business and additional applications, while further securing the resilience of our supply chain. We are committed to growing our business in the energy storage market, as well as our investment in battery cell technology and cell manufacturing, further strengthening our storage product portfolio.”

About SolarEdge

SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, UPS, electric vehicle powertrains, and grid services solutions. Visit us at: solaredge.com

Contacts

Lily Salkin

Global Public and Media Relations Manager

M +972-522028240

Lily.salkin@solaredge.com

Dana Noyman

Head of Corporate Communications and Global PR

M +972 54 999 8809

dana.noyman@solaredge.com