MILPITAS, Calif. & HERZLIYA, Israel, May 19, 2022--(BUSINESS WIRE)--SolarEdge Technologies, Inc. ("SolarEdge") (NASDAQ: SEDG), a global leader in smart energy, and Huawei Technologies Co., Ltd., have agreed on a global patent license agreement between the two companies. The agreement includes a cross license that covers patents relating to both companies' products, and grants certain other rights. In addition, the agreement will result in a settlement of all pending patent-litigation between the companies.
The specific terms of the agreement are confidential. This agreement ends lawsuits between the companies that were pending in Germany and China.
SolarEdge is a global leader in smart energy. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, UPS, electric vehicle powertrains, and grid services solutions. SolarEdge is online at solaredge.com
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SolarEdge Technologies, Inc.
Ronen Faier, Chief Financial Officer
Sapphire Investor Relations, LLC
Erica Mannion or Michael Funari