Enphase Energy Secures $22.5 Million in Financing

PETALUMA, CA, May 18 (MARKET WIRE) --
Enphase Energy, the global leader in solar microinverter systems, today
announced it has secured $22.5 million in new financing, led by Madrone
Capital Partners. This round of funding also includes new investor Bay
Partners as well as existing investors Third Point Ventures, RockPort
Capital Partners and Applied Ventures, LLC.

"We are experiencing exceptional demand for our microinverter systems.
This financing will be used to ramp up manufacturing, accelerate new
product development, and expand into new geographic markets," said Paul
Nahi, President and CEO of Enphase Energy. "Madrone Capital Partners has
a proven track record of working with high growth companies and turning
them into global leaders."

"The Enphase Energy team has demonstrated extraordinary innovation and
execution and we're excited to be an investor in a company that is poised
to extend its leadership in solar inverters," said Jamie McJunkin, General
Partner at Madrone Capital. "This capital will give Enphase the resources
necessary to further accelerate its growth."

Enphase Energy continues to outperform the market by selling tens of
thousands of microinverters since launch. The Enphase systems are
providing millions of hours of more productive, reliable, and smart solar
energy for both residential and commercial customers compared to
traditional solar systems. Demand for the microinverters has been very
high, enabling Enphase to sign sales and distribution agreements with
major partners and distributors.

Enphase Microinverters convert the DC output of each solar module to grid
compliant AC power, eliminating the need for large traditional inverters.
Enphase Microinverters have been proven to increase energy harvest 5 to 25
percent and reduce installation and operational costs by as much as 15
percent compared to traditional solar systems. The resulting increase in
ROI benefits the entire solar supply chain including installers and system
owners. In addition, every Enphase system is capable of being monitored at
the module level, ensuring maximum performance.

"Enphase's ability to raise funds in this challenging economic environment
is a clear sign of investor confidence in the company's products and
management," says Prof. Dan Kammen, Professor of Energy and Director of
the Renewable and Appropriate Energy Laboratory at the University of
California at Berkeley. "This, coupled with the new administration's
emphasis on renewable energy, positions the company to contribute to job
creation and economic recovery efforts."

Jamie McJunkin, General Partner of Madrone Capital Partners will join
Enphase Energy's Board of Directors.

About Enphase Energy

Enphase Energy provides solar energy management systems for residential
and commercial markets. The company offers a system that includes
high-efficiency microinverters, communications and web-based monitoring
and analysis. The systems increase energy harvest, improve system
reliability, and simplify design, installation and management. Founded in
2006 and based in Northern California, the company is led by veterans
from the solar and high tech industries and backed by industry leaders.
For more information, please visit www.enphaseenergy.com or call (707)
763-4784.

About Madrone Capital Partners

Madrone Capital Partners, a private investment firm affiliated with Rob
Walton and his family, invests with a concentrated, long-term philosophy.
The firm is based in Menlo Park, California.

About RockPort Capital Partners

RockPort Capital Partners, www.rockportcap.com, is a leading venture
capital firm partnering with clean tech entrepreneurs around the world to
build innovative companies and bring disruptive technologies and products
to the 21st century. RockPort's investment approach is distinguished by
collaboration with management teams to foster growth and create value.
Combining domain expertise with policy and international experience,
RockPort has a proven track record of leveraging its insights and networks
to foster growth and create value.

About Third Point Ventures

Third Point funds are managed by Third Point LLC, a registered investment
adviser based in New York, with approximately $2 billion of assets under
management. The firm was founded in 1995 by Daniel S. Loeb. Third Point
LLC conducts venture capital activities as Third Point Ventures, which is
led by Robert Schwartz, an industry veteran with 23 years of experience
in private equity and technology company management, based in Sunnyvale,
California.

About Applied Ventures

Applied Ventures, LLC (www.appliedventures.com), a subsidiary of Applied
Materials, Inc., invests in early stage technology companies with high
growth potential that provide a window on technologies that advance or
complement Applied Materials' core expertise. Applied Ventures'
investments help develop technologies and markets that provide natural
extensions of Applied Materials' businesses and can stimulate the growth
of applications for its products and services. Applied Materials, Inc. is
the global leader in Nanomanufacturing Technology(TM) solutions with a
broad portfolio of innovative equipment, service and software products
for the fabrication of semiconductor chips, flat panel displays, solar
photovoltaic cells, flexible electronics and energy efficient glass.

About Bay Partners

Bay Partners is an early stage Venture Capital firm located in Silicon
Valley. Bay has been building successful technology companies since 1976,
funding over 350 startups. Bay leverages the operating backgrounds of its
partners and its extensive network of executives and advisors to help
outstanding entrepreneurs create the leaders in new high growth market
segments. Notable successes from Bay's portfolio include Brocade, Concord
Communications, Exodus, Sonicwall, Placeware, Informatica, Web Logic (BEA)
and NetScaler. Bay is currently investing its eleventh venture fund and
has over $1 billion under active management. Bay Partners is on the web at
http://www.baypartners.com.

Media Contact:

Leesa Lee
Enphase Energy Inc.
llee@enphaseenergy.com

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