SolarEdge Technologies plans to raise $100m in 2015

Israel-based SolarEdge Technologies is planning to seek over $100m in an initial public offering in 2015.

The Bloomberg reported that SolarEdge is currently in talks with financial institutions to list in New York.

SolarEdge chief financial officer Ronen Faier was quoted by the news agency as saying: “We have all intentions to become one of the largest players in the market and doing that in this market requires a lot of money.

“It’s very hard to grow a large company on private money.”

Founded in 2006, SolarEdge offers a distributed solar power harvesting and PV monitoring solution that boosts the power generation of residential, commercial and large-scale PV system installations by about 25%.

The company supplied more than two million power optimizers to over 45 countries across the world, by the second quarter of 2013.

SolarEdge, which is planning to expand its operations in Asia, raised $37m in a funding round led by Norwest Venture Partners in 2011.

According to Bloomberg’s data, six Israeli firms have been listed in the US in 2014.

The news agency said around four additional offerings are pending and Mobileye’s $1bn IPO in July 2014 was the biggest in the US by an Israeli firm.