Tigo Energy was founded in 2008, with a vision to improving the output of solar photovoltaic panels, and since then has raised $50 million and has expanded its solutions to include fire prevention. But Tigo is not satisfied acting only in the solar roofs and fields arena, but is also a pioneer in
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Tigo Energy
The U.S. Department of Energy (DOE) today announced the award of $3.3 million in grants for four U.S.-Israel cooperative clean energy projects. The projects were selected by the BIRD Foundation and will be funded by the DOE and Israel’s Ministry of National Infrastructures.
The four projects will leverage private sector cost-share for a total project value of $11.6 million:
HelioFocus Ltd., based in Ness Ziona, Israel and Capstone Turbine Corporation, based in Chatsworth, California have been selected for an award of up to $800,000. HelioFocus and Capstone Turbine will develop and commercialize a micro-turbine to produce electric power from concentrated solar energy. This project includes $2.1 million in private sector cost-share. IC Green Energy invested in HelioFocus last year, and this blog reported on HelioFocus’ cooperation with Capstone Turbine back in August 2008.
Tigo Energy, a solar start-up whose unique technology significantly increases efficiency in photovoltaic solar installations, announced today that it has closed its Series B round of funding.
The $10 million round was led by Israel Cleantech Ventures and joined by all existing investors (Matrix Partners, OVP and Clal Energy). The series B financing represented a significant premium to Tigo Energy’s $6 million Series A venture round in May of 2008.
Meir Ukeles of Israel Cleantech Ventures has joined the Tigo Board of Directors following the round. In January, Tigo Energy added three cleantech industry veterans to its board of advisers.