Solectria Renewables Becomes Wholly Owned Subsidiary of Yaskawa Electric

  Solectria Renewables Becomes Wholly Owned Subsidiary of Yaskawa Electric

Business Wire

LAWRENCE, Mass. -- July 17, 2014

Solectria Renewables, LLC, a leading U.S. PV inverter manufacturer, and
Yaskawa Electric Corporation announced today that the companies have reached a
definitive agreement whereby Yaskawa Electric will acquire Solectria
Renewables through its U.S. subsidiary, Yaskawa America Inc. Solectria
Renewables will continue to operate as a wholly owned subsidiary.

Headquartered in Lawrence, Massachusetts, Solectria Renewables manufactures
high performance photovoltaic (PV) inverters for residential, commercial and
utility-scale power systems. Since being founded in 2005, Solectria has grown
to become a leader in the North American solar market. The Company employees
over 170 people throughout the U.S.

Founded ninety-nine years ago, Yaskawa Electric is a $3.6 billion global
leader in factory automation solutions, and has also established a leadership
position in the low power PV inverter market in Japan.

This acquisition will benefit Yaskawa and Solectria customers alike. Yaskawa
will bring scale, global sales and manufacturing facilities as well as
diversification to Solectria. Likewise Solectria will bring over 25 years of
power electronics experience, ten dedicated to the PV industry, and an in
depth knowledge of medium and high voltage PV products to Yaskawa.

Yaskawa America’s President and COO Mike Knapek explains, “This is an effort
to broaden Yaskawa’s exposure in the renewable energy market and expand the
use of our technology expertise. Solectria has built a strong and successful
organization in the Solar Inverter market over the past 10 years. The
philosophies and strategies of both organizations are highly aligned on
enabling sales growth and market expansion through superior customer
experiences. We are very excited to bring Solectria into the Yaskawa family to
provide world leading Inverter solutions.”

Solectria Renewables’ CEO, James Worden said, “While this is a significant
step for Solectria, I am even more thrilled about what this means for our
customers. They will have the same management team and personal interaction
they are accustomed to, with the advantage of a powerful diversified global
partner. Our entire team should feel incredibly proud about we have built over
the past 10 years, but the best is yet to come.”

About Solectria Renewables, LLC

Solectria Renewables, LLC of Lawrence, Massachusetts, is a leader in the
development and manufacturing of a wide range of inverters for renewable power
applications including 1.8 kW to 750 kW grid-tied PV inverters for systems
from 1 kW to multi-megawatts. Solectria Renewables’ products are backed by
more than 25 years of experience in the power electronic and inverter
industries and are supported by world class warranties. All of Solectria
Renewables’ three-phase inverters, string combiners, and web-based monitoring
components qualify as Made in the USA. To learn more about Solectria
Renewables, please visit

About Yaskawa America Drives and Motion Division

Yaskawa America is a wholly owned subsidiary of Yaskawa Electric Corporation,
founded in 1967, the Drives & Motion Division provides industrial control and
automation products to markets in the Americas. North American based
operations include R&D, design and product engineering and two assembly plants
producing inverters, servo motors and custom industrial panels. Yaskawa is the
world’s largest manufacturer of AC drives and motion control products,
including adjustable frequency drives, servo amplifiers, servomotors, machine
controllers and motion controllers. Drives and servo systems are applicable to
a wide variety of automation tasks in a wide variety of industries. With every
new generation of design, products are given more features, more flexibility
and more adaptability to more applications.

About Yaskawa Electric Corporation

Yaskawa Electric Corporation located in Kitakyushu, Japan is a world leader in
factory automation solutions. Founded in 1915, Yaskawa Electric has provided
exceptional customer experiences for almost 100 years. Focusing on mechatronic
solutions, it has shipped over 20 million AC inverters, 13 million Servo’s and
290,000 robots worldwide.


Solectria Renewables, LLC
Phil Vyhanek, 978-683-9700
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