Clean energy company touts huge investment in Merced and region
Parasol Elite Power plans to hire over 1,000 employees
Executives of the company Parasol Elite Power on Tuesday unveiled what they called a significant plan to invest in Merced and the surrounding region by developing a manufacturing site for state-of-the-art clean energy.
CEO Phil Levers and others detailed the ambitious strategy that includes a $300 million investment over the next two to three years in technology development, and a goal of hiring over 1,000 employees by the year 2027.
In addition, Parasol Elite Power plans to fund a new Innovation and Technology Center to pioneer research in the area, and collaborate with UC Merced and Merced College with internships, mentoring and training in renewable and emerging technologies.
The company produces storage batteries, inverters, power conversion systems (PCS), battery management systems (BMS), energy management systems (EMS), and transformers.
A groundbreaking ceremony was held in conjunction with the announcement on Tuesday at the company’s new headquarters located at 2050 Wardrobe Ave., near the Merced Airport and other industrial sites. It’s a 60,000 square-foot facility that company officials say will go under extensive renovation.
Dignitaries at the event included Rep. Adam Gray, UC Merced Chancellor Juan Sanchez Munoz, Merced County CEO Mark Hendrickson, Merced City Council members Mike Harris and Darin DuPont, Merced City Manager Scott McBride, Deputy City Manager Frank Quintero, and Merced College Trustee Ernie Ochoa.
Merced Mayor Matt Serratto called the investment news, “a generational opportunity for our community.”
“This is about more than jobs, it’s about building a future where innovation, agriculture, and community pride grow together,” Mayor Serratto said. “Merced is ready to lead California’s clean energy movement, and we are proud to have Parasol Elite Power as a partner in that journey.”
Congressman Gray stressed that manufacturing and production has always been a strength of the San Joaquin Valley and its ag economy, and the goal is to continue to grow industry.
“We want to grow more of it,” Gray said, “and that’s what we’re here today doing, is new investment from outside the area, and an investment that fits hand-in-glove with the University of California, the young people, getting their education there with the workforce training that’s happening at Merced College.”
Said CEO Levers: “I grew up in Silicon Valley and saw firsthand how unplanned growth displaced generations of agriculture and erased local identity. In Merced, we’re committed to showing that progress and preservation can coexist, enabling advanced manufacturing while ensuring farms and dairies continue to thrive alongside new industries.”
Parasol Elite Power plans to locally assemble renewable energy products such as battery modules, power conversion systems for utility grids, and inverters for residential systems.
Dignitaries at the event included Rep. Adam Gray, UC Merced Chancellor Juan Sanchez Munoz, Merced County CEO Mark Hendrickson, Merced City Council members Mike Harris and Darin DuPont, Merced City Manager Scott McBride, Deputy City Manager Frank Quintero, and Merced College Trustee Ernie Ochoa.