Panasonic Global Takes Major Position in Pasadena-Based Solar Energy Company

A Pasadena-based energy company announced Monday that Panasonic, the massive international electronics corporation with $6 trillion worth of assets headquartered in Japan, has increased its ownership position in the company after four years of collaboration.

Coronal Energy provides renewable energy solutions such as solar and battery storage for customers across North America.

According to the press release, the two companies will now team under the banner of Coronal Energy, powered by Panasonic to bring better solar technology to America.

Jamie Evans, managing director of the Energy Solutions Group at Panasonic Enterprise Solutions Company said in the media statement that close alignment with Coronal will make the future of solar technology in America great.

“At a time when the solar industry is maturing and consolidating, smaller players are facing an uncertain future, and some larger players have declared bankruptcy, Panasonic is making a statement that it’s committed to the future of solar energy in North America for the long term,” Evans said in the statement.

Jonathan Jaffrey, the chairman and CEO of Coronal Energy, said in the press release that not all solar products are created equality, and that Panasonic’s influence will be better for customers and the business alike.

“As a unified entity, our customers can rely on Coronal Energy as a trusted source for all their renewable energy project needs,” he said in the press release. “Coronal Energy, powered by Panasonic, completes our platform and the integration of our services creating a unified vision, commitment, and cross-organizational team that leverages the best of Panasonic and Coronal for the benefit of our customers.

Coronal Energy first became partnered with Panasonic in 2013, when Panasonic first made strategic investments in the company. Since then, they have constructed a portfolio of solar powered systems in North America totalling nearly 100 megawatts of renewable energy, according to Coronal Energy’s official website.