Amber Group Expands into Energy Solutions with Power-One Acquisition

Amber Group, a contract manufacturer for HVAC and electronics, plans to acquire a majority stake in Power-One Micro Systems to enter the energy solutions market. Power-One specializes in solar inverters, UPS, BESS, and EV chargers. This strategic move aims to enhance Amber's Electronics Division.

Amber Group, a prominent contract manufacturer specializing in HVAC and consumer electronics, has taken a significant step into the energy solutions market by acquiring a majority stake in Bengaluru-based Power-One Micro Systems.

Power-One is renowned for its production of solar inverters, uninterruptible power supplies (UPS), Battery Energy Storage Systems (BESS), and EV chargers, among other power and energy solutions.

According to Jasbir Singh, Executive Chairman and CEO of Amber Group, this transaction provides the company a strategic entry into the burgeoning market sectors such as solar inverters, BESS, UPS, and EV chargers, thereby fortifying the industrial segment of Amber's Electronics Division.

(With inputs from agencies.)