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We're starting a new series today, on potential partners for innovation commercialization. These potential partners are companies who are leaders in their field, with strong innovation and interesting market niches. We're particularly focused on smaller companies, rather than big corporations.
As our first installment in this series, we're looking at Enphase Energy. Based in California, Enphase provides microinverters and batteries for solar panel installations, with a particular focus on residential customers. Enphase also sells software to manage solar panel systems for its customers, including load controlling. It emphasizes its integrated solar panel system, although it does not manufacture its own solar panels. Instead, Enphase’s products are designed to be compatible with all major solar panel manufacturers. It therefore is potentially of interest for partnership in innovations ranging from electronics and solar panel accessories, to software related to solar power generation.
Before you take any action, please note our disclaimer below.
Enphase is a publicly traded company
We have nothing against privately held companies - but their finances tend to be opaque. Publicly traded companies need to report all relevant financial information. It's easier to see whether your potential partner is losing money or has had excellent revenue growth. As a publicly traded company, Enphase must provide this information. Their financial reports show that their revenues have grown steadily, as have their gross profits. They have also had a steady increase in free cash flow. These reports may indicate a stronger financial position - although of course you'll want to do your own due diligence first.
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Enphase has a growing patent portfolio
Enphase has a large portfolio of 606 total US patents and applications, including a large number of patents and applications that are related to software based management of microgrids and solar panel power production. Overally, the portfolio is relatively new. We note that their US patent/application publications are growing in number yearly, which may indicate accelerated innovation.
Enphase acquires outside innovationsEnphase has announced six acquisitions to date, of which two occurred in 2022 and three in 2021. It therefore clearly has a strong and recent interest in acquisitions of new technologies.
On the other hand, we have seen little evidence of co-owned patents, which are a clear mark of innovation partnership. We also haven't found any evidence of innovations licensed by Enphase from universities.
What do you think about Enphase?
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