FORT COLLINS, Colo.--(BUSINESS WIRE)--Advanced Energy Industries, Inc. (NasdaqGM: AEIS), a leader in power conversion solutions, today announced it is celebrating 30 years in business. Founded in 1981 as a start-up idea introducing switchmode power technology to the semiconductor processing market, the company has consistently been a leader in power conversion products used in thin-films manufacturing and renewable-energy generation. In the past three decades, the company has shipped more than 1.3 million products to a diverse customer base around the world.
Dr. Hans Betz, chief executive officer of Advanced Energy, said, “We are proud to celebrate this milestone in our company’s history. It is a testament to our founders and the vision they set into motion 30 years ago that we’ve successfully built upon their strong foundation and heritage of technology leadership. Our commitment to customers is demonstrated by the collaborative relationships we’ve built over the years, and we continue to remain active participants in their vision for the future. We have grown to become a global company with over 1700 employees and annual sales of over $450 million, with a passion for technology that remains a cornerstone of the Advanced Energy culture.”
Today, Advanced Energy is the market leader in DC and RF thin-film power conversion for semiconductor, solar panel, flat panel display, and data storage manufacturing. The recently released VLSIresearch 2010 data highlights the company’s two-point increase in served market share to 43 percent. Commenting on the growth of the company’s position as the dominant supplier of power conversion solutions, Dan Hutcheson, chief executive officer of VLSIresearch, said, “Advanced Energy has established itself as a premier supplier to the world’s largest equipment providers in the most critical technology markets. The company has long been the number one player in its served thin films markets, based upon high-performance products and deep customer relationships that have evolved with each technology generation.”
After entering the solar PV inverter market in late 2006, the company’s acquisition of PV Powered in 2010 furthered its penetration into the high-growth renewables market. According to IMS Research, Advanced Energy was one of the top market share gainers in 2010 in the global solar PV inverter market. “Advanced Energy was the third highest market share gainer in the global inverter market last year, and is well-positioned to capture opportunities in 2011 based on the high-growth forecast for the North American solar market,” said Ash Sharma, photovoltaics research director at IMS Research.
Doug Schatz, chairman and co-founder of Advanced Energy, further commented, “Thirty years ago, we set out to make a difference in our industry – not just to build a company, but to have a real impact on the way industries use power conversion. I am proud to see the company continue its path of innovation, forging new growth paths by fundamentally understanding how to drive progress in the markets we serve. This milestone is a tribute to our employees, and the talent and dedication they’ve contributed to AE’s past, present, and future.”
AE Milestones
| 1981 | Co-founded by Doug Schatz; currently AE’s Chairman of the Board | |||||
| 1983 | Launched first DC power system for PVD sputtering | |||||
| 1984 | Moved to new headquarters with 25,000 square feet | |||||
| 1987 | Opened location in Japan | |||||
| 1990 | Entered RF power delivery system market | |||||
| 1990 | Opened location in Europe | |||||
| 1995 | Initial Public Offering on Nasdaq under trading symbol “AEIS” | |||||
| 1996 | Opened location in Korea | |||||
| 1998 | Acquired RF Power Products to expand RF market presence | |||||
| 1999 | Opened location in Taiwan | |||||
| 2000 | Acquired Sekidenko, Inc. to enter thermal instrumentation market | |||||
| 2002 | Acquired Dressler HF Technik Gmbh to further expand RF power portfolio | |||||
| 2003 | Opened volume production facility in Shenzhen, China | |||||
| 2007 | Launched Solaron® PV solar inverters | |||||
| 2010 | Acquired PV Powered to expand inverter market presence | |||||
| 2010 | Opened locations in Singapore and Canada | |||||
| 2011 | Announced record revenues of $148.7 million for fourth quarter of 2010 | |||||
About Advanced Energy
Advanced Energy (Nasdaq: AEIS) is a global leader in innovative power and control technologies for high-growth, thin-film manufacturing and solar-power generation. Founded in 1981, Advanced Energy is headquartered in Fort Collins, Colorado with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.