Advanced Energy Industries Inc (Advanced Energy) designs, manufactures, sells, and supports power conversion products and solutions that transform power for various applications ranging from manufacturing and industrial processes to instrumentation, testing, and measurement.

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Advanced Energy’executes research and development on products to develop new or emerging applications and technological advancements to deliver improved performance, lower cost, or other features that the company expects to advance the products of the clients. It focuses on the development of technology applications and improvements on existing products and related software to support customer requirements which are essential for the company to compete in the markets it serves. In FY2022, the company spent US$191 million on its R&D activities, which grew 17.9% and was 10.3% of its revenue. There are 350 issued patents in the United States, 416 issued patents in other countries, and 568 patent applications pending in the United States, Europe, and Asia.