Power electronics maker Tigo Energy attracts USD-20m investment

Author: University of Salford Press Office.

January 15 (Renewables Now) - Tigo Energy Inc, a provider of flexible module level power electronics (MLPE) that maximise the benefit of solar photovoltaic (PV) installations, has closed a USD-20-million (EUR 16.5m) funding round.

The investment was led by Energy Growth Momentum and will be used to both improve existing products and develop new solutions. Tigo’s chairman and CEO, Zvi Alon, commented that the funds secured in this transaction will allow the firm to better serve its current client base and expand by adding new customers, partners and projects.

Founded in Silicon Valley back in 2007, Tigo develops solutions for solar arrays ranging in size from 1 kW to multiple megawatts for utility-scale projects. Its products are certified with hundreds of inverters from more than 15 manufacturers.

The firm has more than 40,000 installations in over 100 countries that produce more than 1 GWh of daily solar electricity.

(USD 1.0 = EUR 0.824)

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