Microinverter producer Enphase offers $17M in equity after Q3 losses

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Enphase continues a delicate balancing act, attempting to shore up its finances while it looks for greater deliveries of inverters and battery solutions, and has now turned to FBR Capital Markets & Co. to sell additional shares.

The company began shipping its AC battery storage solution in Australia and New Zealand during the third quarter, giving it additional market opportunities. In September, company officials said they were they were pleased by the demand seen thus far. Enphase has traded as high as $3.73/share in the last year, but now sits at $1.15/share.

Earlier in 2016, the company made with its plug-and-play solar system whose software gives homeowners flexibility in their energy usage and storage. The market remains small for such systems, but could grow if pushback against net metering policies continues.

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Filed Under: Corporate News
Top image credit: Enphase Energy