CAMARILLO, Calif., February 5, 2013 -- Power-One, Inc. (Nasdaq:PWER), a leading global manufacturer of renewable energy and energy-efficient power conversion and management solutions, and Panasonic Corporation (NYSE:PC), a worldwide leader in the development and manufacture of electronic products and solutions, announced today that they have entered into a strategic alliance to develop, produce and market energy storage systems for the residential and non-residential markets worldwide combining Power-One inverters with Panasonic lithium-ion batteries and systems.

As part of the agreement, the companies will leverage their respective research and development and sales and marketing resources for joint product and market development around the world. Initial efforts will focus on developing the residential, commercial and utility-scale, grid-connected, energy storage systems business in Europe and the U.S. as well as the non-residential segment in Japan. Additionally, the companies have committed to develop the large-scale commercial and utility photovoltaic inverter business in Japan.

"We are thrilled to be aligned with such an innovative company and house-hold brand as Panasonic,” said Dr. Alex Levran, President, Renewable Energy Solutions at Power-One. “Energy storage resources will greatly increase the adoption, use and sustainability of renewable energy systems throughout the world in homes, businesses, and in large utility plants. Panasonic's strengths lie in the development, production and sale of products like their home energy management systems (HEMS) and lithium-ion battery cells, which are vital for power storage systems. Combining Panasonic’s expertise in battery and battery storage with our advanced inverter technology should prove to be an unbeatable combination.”

"We are pleased to collaborate with Power-One, a global leader in the power inverter business,” said Mr. Tamio Yoshioka, Managing Officer, Director of Energy System Business Group at Panasonic Eco Solutions Company. “With the combination of Panasonic’s strengths in energy management technology and related products and Power-One's breadth of expertise in power inverter technology, we are well positioned to develop the energy storage systems business around the world, as well as expanding the non-residential segment of the energy management business in Japan."

Energy storage systems have been garnering a lot of attention lately for their ability to reduce investment in equipment through power leveling and the reduction of peak power consumption in large scale renewable energy systems as well as for their use as backup power supplies in the event of natural disasters and other emergencies. It is estimated that the size of the global market for energy storage systems will exceed $11 billion by 2020, mainly in Europe, North America, and Japan, where renewable energy technology is now being adopted.

About Power-One

Power-One is a leading provider of renewable energy and energy-efficient power conversion and power management solutions and is the world’s second largest designer and manufacturer of photovoltaic inverters.  Its renewable energy products enable the industry’s highest yielding conversion of power from solar arrays for use by utilities, commercial enterprises and homes.  Power-One has a 40 year history as the leader in high efficiency and high density power supply products for a variety of industries including Renewable Energy, Data Storage & Networking, Industrial and Network Power Systems.  The company is headquartered in Camarillo, CA and has global sales offices, manufacturing, and R&D operations in Asia, Europe, and the Americas. Power-One is traded on NASDAQ under the ticker symbol PWER. For more information, please visit www.Power-One.com.

About Panasonic

Panasonic Corporation is a worldwide leader in the development and manufacture of electronic products in three business fields, consumer, components & devices, and solutions.  Based in Osaka, Japan, the company recorded consolidated net sales of 7.85 trillion yen for the year ended March 31, 2012. Panasonic’s stock is listed on the Tokyo, Osaka, Nagoya and New York (NYSE:PC) Stock Exchanges. The company has the vision of becoming the No. 1 Green Innovation Company in the Electronics Industry by the 100th year of its founding in 2018. For more information on Panasonic, its brand and commitment to sustainability, visit the company's website at http://panasonic.net/.