California-based smart energy tech group, SolarEdge, has acquired Hark for an undisclosed sum.
Leeds-based Hark specialises in energy analytics and industrial Internet of Things (IoT), to help operators “connect, analyse and optimise” industrial assets and energy in buildings.
“Hark’s SaaS platform will enable us to grow our extensive commercial and industrial energy management portfolio and offer additional services to our C&I customers” said Zvi Lando, CEO, SolarEdge Technologies.
“Coupled with our smart energy solutions, Hark’s advanced technological capabilities can provide enterprises with greater transparency and control of their energy usage and carbon emissions”.
Hark was founded in 2016 and works with companies including Sainsbury’s, Microsoft and Asda.
“SolarEdge has revolutionised how solar energy is harvested and managed and has deployed millions of smart energy management systems globally,” added said Jordan Appleson, CEO and Co-Founder, Hark Systems.
“We are excited to be able to be a part of the SolarEdge offering and join their global infrastructure to assist enterprises in the C&I market to manage their energy in a more efficient and sustainable way,”
SolarEdge stated the acquisition would mean it could offer customers expanded capabilities in energy management and connectivity, including identification of potential energy savings, detection of anomalies in assets’ energy consumption, and optimisation of energy usage and carbon emissions.
The acquisition is subject to regulatory approvals and is expected to close during the second quarter of 2023.
