Tigo Energy Raises $20 Million In Funding

- Advertisement -
- Advertisement -
  • The investment will be used to improve upon existing products and develop next generation solutions that maximise returns for PV customers
  • The company will continue to invest in the personnel, systems and business process improvement to market and support this breadth of customers

Tigo Energy has announced a $20 million round of investment, led by Energy Growth Momentum. The investment will be used to improve upon existing products and develop next generation solutions that maximize returns for PV customers. . A portion of the new funds will be used to efficiently and effectively scale.

Zvi Alon, Chairman and CEO of Tigo said, “2020 has been a breakout year for Tigo and 2021 has the potential for even greater success. We are excited to have the EG Momentum team’s support and their working capital will enable us to better serve our current customer base and invest in the future expansion with new customers, new partners and new projects.”

UL-system-certification focus

- Advertisement -

It added that the company will continue to invest in the personnel, systems and business process improvement to market and support this breadth of customers. It added that its products are certified globally. A major differentiator is the UL-system-certification focus.

It said that Tigo’s solutions secured certification with hundreds of inverters from more than 15 manufacturers – giving customers significantly more options than any other company in the industry. This UL certification is part of Tigo’s multivendor initiative providing customers with the freedom to choose the features they want with the inverter they want.

John Wilson, founding partner at Energy Growth Momentum said, “We look for talented and experienced management in order to support digital and renewable energy investments that simultaneously increase market value and reduce carbon emissions. And the combination of Zvi and Tigo Energy represents just such an investment.”

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

Agriculture drone spraying water fertiliser on the sunflower field

Rising Drone Startups Giving Rise To Balanced Drone Ecosystem, India

0
Ban on drone imports, restrictions on foreign operators, alongside simplified permission processes and relaxed rules for domestic drones drive the Indian drone market.  The Indian...

ICE To EV Transition Likely Boosts Auto Sector Jobs

0
A report by the International Forum for Environment Sustainability and Technology predicts that India's total vehicle production will double by FY31 and triple by...

Element14 Offers Traco Power Product Line Featuring TMPW Series

0
Electronics and industrial design engineers can use these ultra-compact AC/DC power supplies, which come in PCB and chassis mount configurations, for their critical building...

Buzz

Delhi Solar Energy Policy Introduces Hybrid RESCO Model In India

0
The policy offers Generation Based Incentives (GBI) for five years to domestic, commercial, and industrial consumers.  The Delhi government has launched the Delhi Solar Energy...

Kerala’s ‘chargeMOD’ To Add 1,200 EV Chargers In India

0
'chargeMOD' is expanding its deployment of electric vehicle (EV) chargers in India, emphasizing quality and affordability. The introduction of Ultra Fast Chargers is part...
Union Minister Ashwini Vaishnaw Inaugurating the Chennai Design Centre with Qualcomm CEO, Cristiano Amon

Qualcomm To Plan India’s Electronics Growth, Inaugurates End-to-End Design Center in Chennai

0
The wireless tech design centre will employ 1600 skilled semiconductor designers. Qualcomm will set up 6G labs in the country. The company will...

Important Sectors

Delhi Solar Energy Policy Introduces Hybrid RESCO Model In India

0
The policy offers Generation Based Incentives (GBI) for five years to domestic, commercial, and industrial consumers.  The Delhi government has launched the Delhi Solar Energy...

Kerala’s ‘chargeMOD’ To Add 1,200 EV Chargers In India

0
'chargeMOD' is expanding its deployment of electric vehicle (EV) chargers in India, emphasizing quality and affordability. The introduction of Ultra Fast Chargers is part...

Okaya To Supply 600 EV Chargers To HPCL Pan India

0
This initiative aims to enhance EV accessibility and convenience nationwide, featuring advanced safety features and certifications.  In a move for India's sustainable transportation sector, Okaya...

India’s EV Policy: Leveling the Playing Field For Manufacturers

0
This policy benefits new entrants and supports existing players planning to invest in EVs, ensuring a level playing field for all. The Indian government has...

E2W Sales Projected To Surpass One Million Units In 2024-2025

0
ICRA forecasts that the market share of electric two-wheelers will reach 6-8% in the fiscal year 2025. Electric two-wheeler (e-2W) sales in India are approaching...

Manufacturing

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...

Uno Minda Prepares For Expected Surge In Aftermarket Parts Demand

0
Rakesh Kher, CEO of Uno Minda's Aftermarket Division, notes that the availability of EV replacement parts in the aftermarket will not be immediate. Uno Minda,...