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FORT COLLINS, Colo., March 26, 2015—Advanced Energy Industries, Inc. (Nasdaq: AEIS), a leader in precision power conversion solutions, today announced the successful installation of its medium voltage three-phase string inverters at the 13MW Roves Farm solar park near Swindon, UK.
“Given Advanced Energy’s long-standing history of manufacturing quality string inverters, we were extremely confident in their ability to meet our expectations with regards to the park’s inverter system,” said Mark Hogan, Managing Director of Wirsol UK, the solar park developer. “After comparing them to a number of other European manufacturers, we found that Advanced Energy offered the optimum performance ratio and return on our investment.”
Norbert Apfel, Senior Vice President, Inverter Products, Advanced Energy said, "When used with the relevant transformer, our medium voltage inverter offers 15 per cent more energy production than its low voltage alternative. This allows our customers achieve the maximum return on investment and energy production for the size and location of the solar park.”
With an input voltage range of 575 to 850 volts and an efficiency factor of more than 98%, the AE 3TL 23-MV is the ideal solution for medium voltage applications on large scale solar projects. The AE 3TL 23-MV utilizes convection cooling with no moving parts to ensure high uptime and minimum maintenance, a lightweight power-weight ratio, and plug and play configuration to ensure the unit remains safely closed during installation.
About Advanced Energy
Advanced Energy (Nasdaq: AEIS) is a global leader in innovative power and control technologies for high-growth, precision power conversion solutions. Advanced Energy is headquartered in Fort Collins, Colorado, with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.
Notes to the editors
AE 3TL 23-MV string inverter - Source: Advanced Energy
Roves Farm, UK - Source: Wirsol UK
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, including, but not limited to, statements regarding the exploration of strategic alternatives for our Solar Inverter business. These forward-looking statements are based on Advanced Energy's current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the company's ability to identify and execute upon a strategic alternative, current and prospective customer reaction pending a decision on a strategic alternative or once a strategic alternative is selected (if at all), including potential decreases in customer orders and sales of our solar inverters, potential disruption to the company's operations and management that could occur leading up to and after a strategic alternative is chosen, and employee retention. Additionally, as we complete the year-end audit process, we may discover facts that would require us to record a non-cash inventory charge that is materially different from our expectations stated in this press release, or we might not be permitted to exclude such inventory charge from our calculation of non-GAAP net income and non-GAAP earnings per share. Other risks are described in Advanced Energy's Form 10-K, Forms 10-Q and other reports and statements filed with the Securities and Exchange Commission. These reports and statements are available on the SEC's website at www.sec.gov. Copies may also be obtained from Advanced Energy's website at www.advancedenergy.com or by contacting Advanced Energy's investor relations at 970-407-6555. Forward-looking statements are made and based on information available to the company on the date of this press release. The company assumes no obligation to update the information in this press release.