Solar PV specialist secures £2.5million funding

The funding has been awarded by Good Energies, a global investor in renewable energy and energy efficiency industries. Enecsys' new funding adds to the £6M already received from Wellington Partners and BankInvest in June 2009 for a total investment of £8.5m. According to Enecsys, the microinverter technology promises lowest lifetime costs, highest reliability and faster, easier installation of solar PV systems. Microinverter architectures increase energy harvesting from solar PV systems, reduce installation and maintenance costs and eliminate the risk related to high voltage DC, enabling potential mass market deployment. Paul Engle (pictured), Enecsys' ceo, explianed that the latest investment was as a result of Good Energies' commitment to companies that focus on clean energy transition and possess 'clear technology differentiation'. Engle said: "We are delighted that they recognise these characteristics in Enecsys and have chosen to support us as we prepare for our first product launch in the early part of this year. We believe this partnership brings unparalleled insight and expertise into the industry and positions Enecsys to become a global leader in solar inverters." Enecsys will make its first product announcement in early 2010.