CA-EPC-POWER
15.9.2022 12:01:40 CEST | Business Wire | Press release
EPC Power Corp., a leading North American supplier of high-performance, utility-scale, smart inverters, today announced the Sustainable Investing business within Goldman Sachs Asset Management (Goldman Sachs) and Cleanhill Partners have acquired a majority stake in its company. The strategic investment, along with a comprehensive recapitalization, positions EPC Power to expand and deliver against rapid growth in the renewable energy storage markets while helping facilitate the U.S. economy’s clean energy transition.
The transaction closely follows the signing into law of the Inflation Reduction Act of 2022, which among other provisions extends a first-ever tax credit to stand-alone energy storage, creating a significant financial incentive for adopting EPC Power’s inverters and other technologies. EPC Power is the only U.S.-based, end-to-end power conversion solution provider, making its technology well-suited for grid-scale applications that require added layers of security.
“EPC Power is extremely proud of the strong reputation and track record we’ve built by focusing on product innovation and forging deep relationships with our customers,” said Devin Dilley, co-founder and chief executive officer of EPC Power Corp. “As the world becomes more reliant on renewable energy, inverters need to continue to get smarter. Goldman Sachs and Cleanhill Partners support this vision and are committed to investing in EPC Power and our people to capitalize on this exciting market opportunity and to positively impact the U.S. energy transition.”
“In an exploding market of cleantech innovators, EPC Power stands out for its industry-leading technology, which directly supports the renewable energy transition while preserving grid reliability and performance,” said Rakesh Wilson and Ash Upadhyaya, managing partners at Cleanhill Partners, which first invested in EPC Power in 2021 when it underwrote a credit facility to support its growth; since then, the firm has also provided counsel on operational matters and facilitated strategic partnerships to help the company achieve rapid scale. “As prior investors in EPC Power, we have every confidence that the company will meet its ambitious and environmentally critical objectives and we are excited to partner with Goldman Sachs for the next stage of EPC Power’s growth.”
“EPC Power is uniquely positioned to play a critical role in the evolution of the U.S. solar and energy storage value chains and is now well capitalized to continue its trajectory of rapid growth,” said Alexander Mass, managing director of Goldman Sachs Asset Management. “As the only scaled supplier of smart inverters that are designed, engineered and 100% manufactured in the U.S., EPC Power is a natural continuation of our thematic investment activity in this space, in partnership with Cleanhill Partners and EPC management.”
Energy storage installations globally are projected to multiply 20 times by the end of 2030 compared to the end of 2020, according to BloombergNEF’s 2021 Global Energy Storage Outlook. The U.S. is currently the world’s biggest market for energy storage.
EPC Power’s smart inverters are uniquely suited for applications in stand-alone energy storage, solar energy storage and data center backup power. They enable the buildout of battery storage required to support the proliferation of renewable energy generation. Going beyond the role of traditional inverters to feed power into the grid, “smart” inverters are powered by advanced software and work dynamically with the grid to increase resilience, reliability, safety and security.
To date, EPC Power has sold more than two gigawatts of smart inverters globally. EPC Power is based in Southern California, operating its first manufacturing facility in Poway in San Diego County, with a second U.S. manufacturing location on the East Coast scheduled to open in late 2022 to significantly expand production capacity. To support its growing customer base in Europe, EPC Power also maintains an engineering and sales office in Helsinki, Finland. The company employs approximately 180 people.
William Blair served as the exclusive financial advisor to EPC Power; Foley & Lardner served as legal counsel to EPC Power; Vinson & Elkins and Kirkland & Ellis served as legal counsel to Goldman Sachs and Cleanhill Partners.
About EPC Power Corp.
EPC Power Corp. designs, develops and manufactures American-made smart inverters. The company is the only U.S.-based provider of end-to-end power conversion solution. EPC’s headquarters is in San Diego County, Calif., and the company is opening its East Coast manufacturing location in late 2022. EPC extended its global presence by opening an engineering and sales office in Helsinki, Finland, to support the European market. EPC has been ISO 9001:2015 certified since 2017. Serving customers on a global level, EPC Power Inverters are certified to all North American Standards (UL1741/CSA 22.2) as well as Australian and European standards and grid codes (IEC/VDE, etc.). For more information, visit https://www.epcpower.com.
About Goldman Sachs Asset Management
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of June 30, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Follow us on Linkedin.
About Cleanhill Partners
Cleanhill Partners is a private equity firm pursuing investments in the energy transition sector that contribute to decarbonization. The firm invests in scalable businesses with visibility into revenues, earnings and cash flow growth, leveraging its thesis-driven approach and operational expertise to enhance value in each of our investments. For more information, visit www.cleanhillpartners.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220915005069/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Takeda Announces Positive Topline Results from Pivotal Phase 2/3 Clinical Trial of TAK-881 in Primary Immunodeficiency Disease (PID)4.5.2026 14:00:00 CEST | Press release
Investigational TAK-881 was comparable to established HYQVIA while also demonstrating reduced infusion volume and duration for PID patients Takeda (TSE:4502/NYSE:TAK) today announced that TAK-881-3001, a pivotal Phase 2/3 clinical trial in patients with Primary Immunodeficiency Disease (PID), met its primary endpoint, which demonstrated pharmacokinetic (PK) comparability between the investigational TAK-881 [Immune Globulin Subcutaneous (Human), 20% Solution (SCIG 20%) with Recombinant Human Hyaluronidase] and HYQVIA [Immune Globulin Infusion (Human) 10% with Recombinant Human Hyaluronidase]. Additionally, secondary endpoints showed that TAK-881, a SCIG 20% facilitated with hyaluronidase, demonstrated safety, efficacy and tolerability profiles comparable to HYQVIA, an established SCIG 10% facilitated with hyaluronidase. These findings support the potential of TAK-881 to deliver the required immunoglobulin (IG) dose for PID patients in half the volume of HYQVIA, reducing infusion duratio
Ouster Releases The REV8 OS Family: The World’s First Native Color Lidar4.5.2026 12:00:00 CEST | Press release
Powered by the Company’s breakthrough L4 and L4 Max Ouster SiliconFeatures the first patented native color lidar sensors with point for point 3D color visionIntroduces flagship OS1 Max sensor with double the range and resolution of Rev7Auto-grade, cybersecure, and designed for functional-safety Ouster, Inc. (Nasdaq: OUST) (“Ouster” or the “Company”), a leader in sensing and perception for Physical AI, announced today its new family of OS digital lidar sensors, Rev8, powered by its next-generation L4 Ouster Silicon. Ouster Rev8 features the world’s first patented native color lidar sensors, provides up to double the range and resolution of the previous generation, and is designed for functional safety, reliability, affordability, and scale. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260504718668/en/ The REV8 OS Family: The World's First Native Color Lidar. L4 Ouster Silicon: Ouster’s breakthrough L4 architecture doubles t
NIQ Research Reveals New Rules of Commerce: AI Is Beginning to Decide What Consumers Buy4.5.2026 12:00:00 CEST | Press release
NIQ’s latest global report—The Commerce Revolution: Where East Meets West—examines how commerce intelligence is helping brands, retailers, and platforms navigate a rapidly converging global landscapeAI is rapidly becoming the buyer, not just the tool—reshaping how products are discovered, chosen, and purchasedThe next wave of retail growth isn’t coming from traditional e‑commerce, but from live, social, quick, and AI‑driven commerce models scaling from East to West NielsenIQ (NYSE: NIQ) has announced the release of its new global report, The Commerce Revolution: Where East Meets West, which examines how Eastern-led commerce innovation and Western retail media monetization are colliding to reshape global consumer commerce. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260428841965/en/ The report finds live, social, and quick commerce—long scaled across Asia—now drive most incremental digital growth worldwide, while Western m
OPAQUE Acquires Abu Dhabi-Developed Cryptographic AI Technology from TII, Extending Confidential AI Across the Full Lifecycle with Post-Quantum Protection4.5.2026 10:23:00 CEST | Press release
New capabilities make it possible to safely deploy AI agents on the most sensitive and regulated data — with hardware-enforced, verifiable rules and cryptographic guarantees built to withstand quantum computing OPAQUE, the Confidential AI company headquartered in San Francisco, California, today announced it has acquired advanced cryptographic AI technologies from the Technology Innovation Institute (TII), the applied research pillar of Abu Dhabi's Advanced Technology Research Council (ATRC). The acquired technology — already proven in real-world use cases — adds two critical capabilities to OPAQUE's platform: confidential AI model training powered by advanced cryptographic techniques such as multi-party computation and fully homomorphic encryption, as well as post-quantum cryptographic protections. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260504705475/en/ OPAQUE Acquires Abu Dhabi-Developed Cryptographic AI Technology
Forbes Includes Philip Morris International in Its Net Zero Leaders List4.5.2026 10:00:00 CEST | Press release
PMI ranks number 4, marking its fourth consecutive year of recognition for making significant strides toward reaching net zero carbon footprint goals Philip Morris International (PMI) (NYSE: PM) has been included once more in Forbes’ 2026 Net Zero Leaders1 list, recognizing its leadership and continued progress in advancing climate action across its global operations. The Forbes Net Zero Leaders list highlights U.S. publicly listed companies best positioned to achieve net zero emissions by 2050, based on measurable performance rather than commitments alone. Despite most companies aligning to a 2050 net zero horizon, PMI remains committed to reaching net zero by 2040, as set out in its Climate Transition Plan published in 2025. This aspiration reflects PMI’s confidence in collective progress, trust that ambition drives innovation, that policy will evolve to enable change, and collaboration will accelerate system‑wide transformation. Above all, it signals hope: that by acting early and h
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom