Eaton Acquires High Power Inverter Technology
Eaton Corp. announced that it has acquired the assets of IE Power, Inc. IE Power, which was founded in 1985, is based in Mississauga, Ontario, Canada and employs 24 people. The company is a provider of high power inverters for a variety of mission critical applications including solar, wind and battery energy storage, with sizes from 100kW to 5MW. Terms of the transaction were not disclosed.
"This acquisition provides Eaton with strong design capabilities for high power inverters, an established product platform, and access to the rapidly growing utility solar inverter market," said Matt Lorenz, Vice President and General Manager, Electrical Components Organization, Industrial Control Division. "When combined with our global capabilities, IE Power’s robust and cost competitive inverter technology and powerful R&D capacity positions Eaton with one of the broadest solar inverter product portfolios in the industry."