Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

Power-One Enters Into Strategic Alliance With Panasonic



Power-One Enters Into Strategic Alliance With Panasonic

Companies Will Collaborate to Develop, Produce and Market Energy Storage
Systems for Residential and Non-Residential Markets Worldwide

CAMARILLO, Calif., Feb. 5, 2013 (GLOBE NEWSWIRE) -- Power-One, Inc.
(Nasdaq:PWER), a leading global manufacturer of renewable energy and
energy-efficient power conversion and management solutions, and Panasonic
Corporation (NYSE:PC), a worldwide leader in the development and manufacture
of electronic products and solutions, announced today that they have entered
into a strategic alliance to develop, produce and market energy storage
systems for the residential and non-residential markets worldwide combining
Power-One inverters with Panasonic lithium-ion batteries and systems.

As part of the agreement, the companies will leverage their respective
research and development and sales and marketing resources for joint product
and market development around the world. Initial efforts will focus on
developing the residential, commercial and utility-scale, grid-connected,
energy storage systems business in Europe and the U.S. as well as the
non-residential segment in Japan. Additionally, the companies have committed
to develop the large-scale commercial and utility photovoltaic inverter
business in Japan.

"We are thrilled to be aligned with such an innovative company and house-hold
brand as Panasonic," said Dr. Alex Levran, President, Renewable Energy
Solutions at Power-One. "Energy storage resources will greatly increase the
adoption, use and sustainability of renewable energy systems throughout the
world in homes, businesses, and in large utility plants. Panasonic's strengths
lie in the development, production and sale of products like their home energy
management systems (HEMS) and lithium-ion battery cells, which are vital for
power storage systems. Combining Panasonic's expertise in battery and battery
storage with our advanced inverter technology should prove to be an unbeatable
combination."

"We are pleased to collaborate with Power-One, a global leader in the power
inverter business," said Mr. Tamio Yoshioka, Managing Officer, Director of
Energy System Business Group at Panasonic Eco Solutions Company. "With the
combination of Panasonic's strengths in energy management technology and
related products and Power-One's breadth of expertise in power inverter
technology, we are well positioned to develop the energy storage systems
business around the world, as well as expanding the non-residential segment of
the energy management business in Japan."

Energy storage systems have been garnering a lot of attention lately for their
ability to reduce investment in equipment through power leveling and the
reduction of peak power consumption in large scale renewable energy systems as
well as for their use as backup power supplies in the event of natural
disasters and other emergencies. It is estimated that the size of the global
market for energy storage systems will exceed $11 billion by 2020, mainly in
Europe, North America, and Japan, where renewable energy technology is now
being adopted.

About Power-One

Power-One is a leading provider of renewable energy and energy-efficient power
conversion and power management solutions and is the world's second largest
designer and manufacturer of photovoltaic inverters. Its renewable energy
products enable the industry's highest yielding conversion of power from solar
arrays for use by utilities, commercial enterprises and homes. Power-One has a
40 year history as the leader in high efficiency and high density power supply
products for a variety of industries including Renewable Energy, Data Storage
& Networking, Industrial and Network Power Systems. The company is
headquartered in Camarillo, CA and has global sales offices, manufacturing,
and R&D operations in Asia, Europe, and the Americas. Power-One is traded on
NASDAQ under the ticker symbol PWER. For more information, please visit
www.Power-One.com.

About Panasonic

Panasonic Corporation is a worldwide leader in the development and manufacture
of electronic products in three business fields, consumer, components &
devices, and solutions. Based in Osaka, Japan, the company recorded
consolidated net sales of 7.85 trillion yen for the year ended March 31, 2012.
Panasonic's stock is listed on the Tokyo, Osaka, Nagoya and New York (NYSE:PC)
Stock Exchanges. The company has the vision of becoming the No. 1 Green
Innovation Company in the Electronics Industry by the 100th year of its
founding in 2018. For more information on Panasonic, its brand and commitment
to sustainability, visit the company's website at http://panasonic.net/.

Safe Harbor Statement

Statements made in this press release which state the Company's or
management's intentions, beliefs, expectations or predictions for the future
are forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, and may include statements regarding
anticipated future productivity. It is important to note that future
performance and actual results could differ materially from those discussed in
or underlying such forward-looking statements as a result of risks and
uncertainties that cannot be predicted or quantified and that are beyond the
Company's control. Important factors that could cause actual results to differ
materially include, but are not limited to: economic conditions in general and
business conditions in the power supplies and renewable energy markets;
foreign exchange rates; the Company's ability to improve its operational and
supply chain efficiencies; competitive factors such as pricing and technology;
the timing and results achieved in completing product manufacturing
transitions to Company facilities in China or other low-cost locations; the
threat of a prolonged economic slowdown or a lengthy or severe recession;
continued volatility of the financial markets, including fluctuations in
interest rates and trading prices of the Company's equity securities; the
results of pending legal proceedings; the Company's ability to secure market
share in higher margin, high-growth markets; the market growth of product
sectors targeted by the Company as sectors of focus; and the Company's ability
to increase working capital. Additional information concerning factors that
could cause actual results to differ materially from expectations expressed in
this press release are described in the Company's reports filed with the
Securities and Exchange Commission pursuant to the Securities Exchange Act of
1934 from time to time, which are also available through the Company's Website
at www.power-one.com or through the SEC's Electronic

Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov. Power-One
undertakes no obligation to publicly update or revise any forward-looking
statement.

CONTACT: For Press Inquiries, please contact
         Chris Lawson, Global Director, Marketing Communications
         Tel.: +1 480-643-1758
         Email: Chris.Lawson@power-one.com
        
        
         For Investor Relations, please contact
         Larry Clark - Investor Relations for Power-One
         Tel.: +1 (310) 478-2700 ext. 29
         Email: Investor.Relations@Power-One.com

Power-One, Inc. Logo
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement