SolarEdge Appoints Team8 CEO Nadav Zafrir as Co-Chairman

Nasdaq-listed solar energy company SolarEdge Technologies Inc. has appointed Israeli tech entrepreneur Nadav Zafrir as co-chairman, the company announced Thursday.

The appointment was made to strengthen SolarEdge’s executive management in light of “the continued illness” of founder, chairman, and CEO Guy Sella, the company said in a statement.

Zafrir is the CEO of Israeli cybersecurity think tank and startup foundry Team8 LLC. Working with industry partners, Team8 develops cyber-related technologies, going as far as establishing, staffing, funding, and raising capital for companies that go on to operate under Team8’s umbrella. Zafrir is also the former chief of Israeli NSA equivalent Unit 8200.

Founded in 2006 and headquartered in central Israel, SolarEdge develops optimization, monitoring, and remote-control technologies for solar panels and systems, designed to increase the efficiency of solar energy conversion. The company raised $126 million in its initial public offering in 2015. The company has offices in Israel, North America, Asia, and Europe. It is currently traded according to a market capitalization of $4 billion.