Press Releases
2011
12/12 - Tigo Energy® Raises Additional Capital Resources To Accelerate The Growth Of Their Solar Smartmodules12/05 - Eclipsall and Tigo Energy® Announce Supply Agreement
10/19 - Tigo Energy® Partners With Leading PV Module Manufacturers To Deliver Solar Smart Modules
05/25 - Tigo Energy® Named Intersolar Award 2011 Finalist In Photovoltaics
04/06 -Tigo Energy® Expands Executive Team With The Addition of a Chief Financial Officer
2010
10/07 - SunPower takes different track with smart modules: special interest group to set standards10/05 - Tigo Energy® and Suntech Collaborate to Develop Smart Panel Technology for Photovoltaic Solar Installations
09/30 - Tigo Energy® Teams with SCHOTT Solar to Bring Electronic Intelligence to Photovoltaic Projects
07/12 - REC Solar Offers Tigo Energy® Maximizer Solution for Commercial and Residential Solar Installations
06/08 - Tigo Energy Closes $10 Million in New Financing to Fuel Global Sales Growth
03/03 - Tigo Energy Accelerates International Expansion
2009
10/19 - CEC Officially Lists Tigo Energy’s Maximizer ES and EP As Eligible Products09/22 - Tigo Energy Introduces Latest Product Addition to the TIGO Energy® Maximizer Family at PVSEC in Hamburg
09/10 - Tigo Energy Named a Global Cleantech 100 Clean Technology Company
07/13 - Intersolar News: Tigo Energy Inc. Announces Key Distribution Partner for the Tigo Energy® MaximizerTM System
05/26 - Tigo Energy Reaches Key Milestones and Raises $10 Million “B” Round Financing
04/21 - Tigo Energy: Presenting Company At Alternative Energy Innovations Is Named A 2009 FiReStarter
01/27 - Tigo Energy Adds Three Prominent Renewable Energy Industry Veterans to Board of Advisors
2008
10/14 - Tigo Energy Opens Israeli Office & Names Industry Veteran Modi Avrutsky To Oversee Operation08/28 - Tigo Energy Taps Expertise of Jeff Krisa For Key Sales & Marketing Role
07/15 - Gary Gerber to join Tigo Energy'S Board of Advisors
06/03 - Tigo Energy Announces $6 Million Funding
TIGO ENERGY® RAISES ADDITIONAL CAPITAL RESOURCES TO ACCELERATE THE GROWTH OF THEIR SOLAR SMARTMODULES
$18 Million Investment Round Led by Bessemer Venture Partners
SILICON VALLEY, Calif., Dec. 12, 2011 –Tigo Energy®, the market leader in SmartModuleTM technology for photovoltaic (PV) solar installations, today announced that it has raised $18 million in additional financing, bringing the total company funding in excess of $50 million.
Led by Bessemer Venture Partners, the investment will enable Tigo Energy to accelerate growth, expand manufacturing and focus on international sales to take advantage of the strong market demand for Tigo Energy-enabled SmartModules from the industries’ leading PV module brands. Bessemer Venture Partners was joined by all existing investors to complete the capital infusion. As a result of the investment, Umesh Padval, a partner in Bessemer’s Menlo Park, Calif., office, will join the Tigo Energy Board of Directors.
“I am excited about our investment in Tigo Energy,” said Padval. “Tigo’s strong execution-oriented team, strong customer traction, robust channel partners and differentiated products are very impressive and I look forward to partnering with them as they continue building a successful company.”
“Tigo Energy has a winning solution that has attracted many of the world’s largest PV suppliers,” said Lucinda Stewart, Managing Director at OVP. “Tigo Energy’s technology helps customers of solar installations earn the most out of their investment, and we’re pleased to continue to support the company’s strong growth.”
The Tigo Energy Maximizer solution enables owners of PV projects of any size (residential, commercial or utility scale) to increase financial returns by improving power production, ensuring peak system up-time and drastically reducing the cost of operations and maintenance. The technology is now being integrated by leading module OEMs such as Hanwha SolarOne, UpSolar, and Trina Solar to streamline installation and reduce system costs.
The Tigo Energy system provides all the benefits of micro-inverters without placing expensive electronics underneath PV modules—delivering a more cost effective, efficient and reliable system. The Tigo Energy Maximizer is also certified to be compatible by top inverter manufacturers such as Kaco New Energy, SMA, Fronius and PowerOne.
PV installers worldwide have rapidly adopted the Tigo Energy solution in both their residential and large-scale commercial offerings. Tigo Energy’s global market adoption can be attributed to a unique system architecture that delivers all the value of distributed electronics with unmatched efficiency, cost and reliability.
About Tigo Energy
Based in California’s Silicon Valley, Tigo Energy was founded in 2007 and focuses on applying innovative technologies to the solar PV space. Tigo Energy has offices in the United States, Japan, Germany, Italy, France, China and Israel and is commercially shipping volume systems in cooperation with most prominent worldwide solar distributors, EPCs and PV module OEMs. Additional information on Tigo Energy is available at www.tigoenergy.com.
Contact: Daniel Francisco
Tigo Energy Press Relations
916-293-9030
dan.francisco@tigoenergy.com