Tuesday, March 30, 2010

Enphase Energy Raises $40M

Petaluma-based Enphase Energy, a developer of power inverter products, announced Tuesday that it has raised $40M in a new round of venture funding. The new funding came from Bay Partners, along with orizon Technology Finance, Bridge Bank, Third Point Ventures, RockPort Capital Partners, Madrone Capital Partners and Applied Ventures LLC. The firm said the funding will go to fund its expansion plans. Enphase develops power inverters for the solar power market, used for converting DC power into usable AC power. The firm said it has so far shipped 250,000 inverters. More information »