Huge potential for SUNW if they add ENPH IQ8 inverters to their offerings by 2019. JN said they wouldn’t use ENPH while financially strained, but that’s no longer the case. Chuck needs to see the writing in the wall and jump in this ASAP.
(Hauoli)
From Shareholder whom attended the Enphase Annual shareholders meeting yesterday.
Q&A:
Here are some additional details from the Q&A that all interested parties should make sure they understand:
* Company is on track with all plans revealed in quarterly conf call
* IQ8 is transformational, but even moreso than many people (including myself) may have thought. A single IQ8 retrofitted into a system reportedly allows that system to be grid agnostic. Let me repeat that, because this is incredible. One IQ8 can generate the system parameters (stable frequency) that enable all other inverters on the system (ANY INVERTERS) to operate off grid. this is like the promised land for everyone with a solar system. and even more interesting from a retrofit standpoint, that single IQ8 could be in an IQ8 enabled AC Battery. meaning that the entire combined system could island to operate as a stable microgrid with storage.
* Company strategy for ALL components, including batteries in the ACB going forward is to be multi-source
* Bert Garcia, current CFO, is leaving on very good terms and intends to keep his shares. No bad blood, no warning signs. His story: He participated in the IPO of ENPH, but not as CFO. He wants to take a start-up public as CFO and is leveraging this experience to make that jump.
* Company is in good hands with Badri. Very steady hand on the tiller, but with a strategic focus. Operations, quality etc. He recognizes from a tech standpoint the company moat is its ASICs so that is in full bore development to continue to improve the company products. He is keeping the throttle on this R&D by concentrating this effort in India to keep opex within the 20% Target he has set. He is playing from his own playbook, having built and ran a 700 person ASIC team in India before.
* For anyone thinking that the Chilean investor, Isirdoro Quirogar, is going to get out, or has gotten out. That is False. He is going nowhere, as a board member (observer) he has all the same restrictions and responsibilities as any board member. Company is very happy with his involvement.
* The increase in authorized shares is housekeeping. Both Garcia and Badri were VERY clear: This is not dilutive. There are NO plans to issue any shares whatsoever. it is simply a registration to refill the authorized-but-not-issued share count after the issuance to Isidoro Quiroga
This will be a game changer, especially with storage. ACM’s, ACB’s and Rapid Rack. Imagine!
