SolarEdge Technologies faces import ban as U.S. ITC launches probe
2022.08.30 07:18
FILE PHOTO: Signage is seen outside of the U.S. International Trade Commission in Washington, D.C., U.S., August 31, 2020. REUTERS/Andrew Kelly
(Reuters) – SolarEdge Technologies (NASDAQ:SEDG) Inc’s solar power optimizers and inverters could face an import ban, as the U.S. International Trade Commission (ITC) said on Monday it would investigate a few products after a smaller rival alleged patent infringement.
In its complaint on July 28, Ampt LLC requested the U.S. ITC to ban imports of SolarEdge power systems and components that allegedly infringe two of its patents.
The U.S. ITC said it will set a target date to complete the probe within 45 days after initating the investigation.
Ampt is also seeking a ban on the sale of these products in the United States after they are imported.
“We appreciate the Commission’s decision to investigate SolarEdge’s unlawful use of our proprietary technology without asking our permission or compensating us,” Ampt Chief Executive Officer Levent Gun said in a statement.
Israel-based SolarEdge, whose shares fell 2.94% on Monday, did not immediately respond to a Reuters request for comment outside regular business hours.
