SolarEdge Technologies, a pioneer in smart energy technology, said today that it has signed a legally binding contract to buy out the whole share capital of Hark Systems Ltd. Hark, a 2016-founded company with headquarters in Leeds, United Kingdom, provides highly adaptable Software as a Service (SaaS) Internet of Things (IoT) platform that enables businesses and asset operators to connect, examine, and optimize energy and industrial assets at their commercial locations. Rapid deployment and commissioning across several sites are made possible by Listen’s technology. Many different sectors makeup Hark’s clientele, including some of the biggest UK grocery chains.
With the acquisition of Hark, SolarEdge will be able to provide enhanced energy management and connection services to its commercial and industrial (C&I) clientele. These services will include the discovery of possible energy savings, the detection of abnormalities in the consumption patterns of assets, and the optimization of energy consumption and carbon emissions via load orchestration and storage control.
Zvi Lando, CEO (SolarEdge Technologies) stated that Hark’s SaaS platform will allow the company to expand its large commercial and industrial energy management portfolio and offer more services to its C&I clients. “When combined with our intelligent energy solutions, Hark’s outstanding technology capabilities can give businesses with improved energy transparency and carbon emission management.”
By installing millions of its intelligent energy management systems throughout the world, SolarEdge has radically altered the solar industry. Jordan Appleson, CEO and Co-Founder, Hark Systems, commented, “We are pleased to be able to be a part of the SolarEdge offering and join their worldwide infrastructure to enable organizations in the C&I industry to manage their energy more effectively and sustainably.
Due to the need for customary closing conditions and regulatory clearances, the transaction is not certain to conclude until the second quarter of 2023.
