Enphase Energy, maker of micro-inverter systems for solar applications, has raised $22.57 million in capital, according to peHub. The Petaluma, Calif. company says the funding came from Applied Ventures, Rockport Capital Partners and Third Point Management.
Enphase’s flagship system consists of three separate processes. Its micro-inverters are installed on individual solar modules to turn collected sunlight into grid-compliant energy. Then its communications gateway sends information regarding the efficiency of each module back to a centralized database. Finally, it provides a web site where its clients can view data on their solar arrays in real time, allowing them to make alterations or fixes as needed. The company says the combination of these three services allows solar power providers to significantly up their productivity.
In January 2008, Enphase brought in $6.5 million from Third Point and an unnamed technology company. It raised another $6.5 million from undisclosed backers before that, bringing its total capital raised today to $35.57 million.