MUNICH--(BUSINESS WIRE)--Jul 31, 2018--SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy, announced today that it has extended its lawsuit pending in the Mannheim District Court, Germany, against Huawei Technologies Co., Ltd., a Chinese entity, Huawei Technologies Düsseldorf GmbH, a German entity, and WATTKRAFT Solar GmbH, a German distributor for Huawei, by asserting two additional patents related to its power optimizer technology.

Also with regard to these two additional patents, SolarEdge asserts unauthorized use of patented technology, which is prohibited by law, and is intended to protect SolarEdge’s significant investment in its innovative power optimizer technology. Seeking inter alia monetary damages, an injunction with regard to the German market, and recall of infringing Huawei optimizers from the German market, the lawsuits are intended to prevent the defendants from selling any optimizers as far as they do infringe upon SolarEdge’s IP on either of the two patents now asserted in Germany.

“SolarEdge has strived to advance the PV industry by overcoming limitations of standard PV systems through the introduction of its innovative DC optimization technology, in our view making solar energy more attractive and accessible. These advancements, resulting from dedication, engineering expertise, and significant investment in R&D, can only achieve their full potential when safeguarded by an industry that respects healthy and fair competition,” stated Guy Sella, CEO, Chairman, and Founder of SolarEdge. “What we view as illegal use of proprietary technology can stifle the solar industry during this critical period of global energy transformation. Our actions are meant to ensure the integrity of the entire PV industry, secure a level playing field, and protect SolarEdge’s intellectual property.”

As a global leader in smart energy technology with world-class engineering capabilities, SolarEdge holds 126 awarded patents, 169 additional patent applications worldwide, and other extensive intellectual property covering smart energy technology. SolarEdge has shipped 7.5GW of systems worldwide, among which includes 25.2 million power optimizers and 1.1 million inverters.

In June of 2018, SolarEdge announced that it had filed its first patent infringement lawsuit in Germany against Huawei Technologies Co., Ltd., Huawei Technologies Düsseldorf GmbH, and WATTKRAFT Solar GmbH, relating to its patented inverter technology.

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, UPS, and grid services solutions. SolarEdge is online at http://www.solaredge.com

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CONTACT: SolarEdge Technologies

Danya Golan, +972-52-6263348

Senior Director of Marketing

danya.golan@solaredge.com

or

Sapphire Investor Relations, LLC

Erica Mannion or Michael Funari

+1 617-542-6180

investors@solaredge.com

KEYWORD: EUROPE GERMANY

INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY UTILITIES TECHNOLOGY CONSUMER ELECTRONICS HARDWARE

SOURCE: SolarEdge Technologies, Inc.

Copyright Business Wire 2018.

PUB: 07/31/2018 03:00 AM/DISC: 07/31/2018 03:01 AM

http://www.businesswire.com/news/home/20180731005358/en