Siemens is set to acquire KACO new energy to enhance its manufacturing capabilities
Siemens has announced its plans to acquire the string inverter business of KACO new energy GmbH, one of the leading manufacturers of energy-related power electronics.
Headquartered in Neckarsulm, Germany, KACO new energy is situated in more than nine countries with local sales and service companies. Its product line covers the full power range, from inverter units designed for a family home, commercial buildings and infrastructures to complete systems for solar parks producing megawatts of electricity.
The company places an emphasis on the fastest growing segments of string inverters for solar and storage applications, up to 1500V and using the latest semi-conductors. Developing next generation inverter technology based on silicon carbide (SiC), it leads the way in gaining best-in-class power density and superior thermal behaviour for installation in demanding environments.
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"With this acquisition, Siemens gains access to the latest technology, while KACO new energy will benefit from the resources required to scale up. Together, we will be able to apply the technology in exciting growth segments", explained Cedrik Neike, Managing Board Member of Siemens AG in a recent press release. With the complementary power electronics portfolio of KACO new energy, Siemens is strengthening its technological leadership in the high-growth fields of decentralised energy systems and is providing corresponding benefits to customers.
"Siemens is in a strong position to succeed in technology that supports the energy and mobility transition,” stated Jean-Christoph Heyne, Head of Siemens' new Future Grids business. “The acquisition of KACO new energy enhances our portfolio in attractive growth segments at the grid edge. Our new Smart Infrastructure Operating Company comes into operation on April 1, 2019 where our strengths in electrification and buildings will enable us to thrive in the market and continue to expand in the areas of decentral energy, renewables, storage and electric vehicle charging infrastructure."