KACO new energy's string inverter division will be integrated into Siemens' new Smart Infrastructure operating company. The transaction is expected to close in the first half of 2019. KACO new energy GmbH, based in Neckarsulm, Germany, is one of the world's largest manufacturers of inverters for feeding solar power into the grid.
“With this acquisition, Siemens gains access to the latest technology, while KACO new energy will benefit from the resources required to scale up. Together, we will be able to apply the technology in exciting growth segments”, explains Cedrik Neike, Managing Board Member of Siemens AG.
KACO new energy uses silicon carbide for the next generation of inverter technology that delivers the best power density and thermal performance for installation in demanding environments. With the power electronics portfolio from KACO new energy, Siemens aims to strengthen its technological leadership in the fast-growing areas of decentralized energy systems. Ralf Hofmann, Managing Director of KACO new energy, and Gerhard Sturm, shareholder of the company, are delighted to have found a buyer in Siemens with whom they know their technological know-how in good hands.
Source: KACO new energy | www.kaco-newenergy.com
Image Source: KACO new energy | www.kaco-newenergy.com
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