Welcome to our dedicated page for Tigo Energy news (Ticker: TYGO), a resource for investors and traders seeking the latest updates and insights on Tigo Energy stock.
Tigo Energy, Inc. (TYGO) is a trailblazer in the solar energy sector, headquartered in Silicon Valley. The company specializes in designing advanced photovoltaic (PV) solar panel technology leveraging patented impedance matching technology. This innovation allows for the installation of more modules on any roof, accommodating uneven string lengths and various orientations, which enhances both safety and reliability.
Tigo Energy stands out by partnering with module, inverter, and combiner box manufacturers to include its state-of-the-art technologies. These advanced solutions enable efficient arcing, fire, and safety hazard monitoring, providing installers and system owners with the highest return on investment (ROI) by maximizing energy production and system uptime for both new systems and retrofits.
The company's product offerings span solar power conversion and storage, giving customers a broad range of choices and flexibility. Tigo Energy's mission focuses on delivering intelligent hardware and software solutions designed to enhance safety, boost energy yields, and reduce operating costs for residential, commercial, and utility-scale solar systems. The company also offers robust string monitoring, theft prevention, and fleet management solutions, making it a significant player in the field of solar energy technology.
Recently, Tigo Energy has been involved in numerous groundbreaking projects and has formed strategic partnerships aimed at furthering its technological advancements and market reach. These efforts underscore Tigo Energy's commitment to innovation and leadership in the solar power industry.
Tigo Energy (NASDAQ: TYGO) has secured a significant legal victory as the U.S. Patent and Trademark Office (USPTO) rejected SMA Solar Technology AG's challenge to Tigo's U.S. Patent No. 9,584,021. This patent covers innovative power-supply design for module-level power electronics (MLPE) technology that addresses false-start problems in solar system power-up. This ruling follows previous successful defenses of patents 9,966,848 and 10,333,405, all part of an ongoing patent-infringement dispute with SMA in Delaware District Court. Tigo offers technology licenses to these USPTO-upheld patent claims on fair terms.
Tigo Energy (NASDAQ: TYGO) reported Q3 2024 financial results with revenue of $14.2 million, marking a 16.8% decrease from Q3 2023 but a 12.1% sequential increase. The company posted a GAAP gross margin of 12.5% and a net loss of $13.1 million. Key operational highlights include shipping 403,000 MLPE units and growing Predict+ meters to 62,000. The company secured a contract to deliver 97,000 optimizers for Brazil's largest floating solar plant. For Q4 2024, Tigo expects revenues between $14-17 million and adjusted EBITDA loss of $6.5-8.5 million.
Tigo Energy (NASDAQ: TYGO) announced that Apollo Flutuantes will deploy 97,200 Tigo optimizers in Brazil's largest floating solar plant. The project, set for completion in December 2025, will be located on the Lajeado Hydroelectric Power Plant reservoir in Tocantins. The installation will feature eighteen solar islands equipped with Tigo TS4-X-O MLPE devices supporting solar modules up to 800W at 25A, providing optimization, module-level monitoring, and safety features. The project includes innovative high-albedo platforms to maximize energy output from bifacial modules, demonstrating the potential of floating solar to leverage Brazil's water resources while minimizing land use.
Tigo Energy (Nasdaq: TYGO), a provider of intelligent solar and energy software solutions, has scheduled its Q3 2024 earnings conference call for Wednesday, November 6, 2024, at 4:30 p.m. Eastern time (1:30 p.m. Pacific time). The company will release its financial results for the quarter ended September 30, 2024, via press release before the call. Management will host a presentation followed by a Q&A session. Participants are advised to register online at least 10 minutes before the call starts.
Tigo Energy, Inc. (NASDAQ: TYGO) has announced a collaboration with PROINSO to support solar installers in Costa Rica as the NEC 690.12 rapid shutdown standard becomes mandatory. This partnership aims to ensure compliance with critical safety standards for new photovoltaic projects in the growing Costa Rican solar market. PROINSO will provide high-quality energy products to local solar companies, including Tigo's comprehensive range of solutions for rapid shutdown, module-level monitoring, and optimization.
The implementation of NEC 690.12 is part of Costa Rica's broader effort to improve solar energy safety. Tigo's rapid shutdown solutions are designed to comply with these standards, offering reliability and ease of integration for solar installers. The company's cutting-edge module-level power electronics (MLPE) feature compatibility with Tigo RSS Transmitters with Pure Signal™ technology and offer a Multi-Factor Rapid Shutdown (MFRS) option for redundant safety signaling.
Tigo Energy (NASDAQ: TYGO), a leading provider of intelligent solar and energy software solutions, is set to showcase its advanced solar products and installer services at the Solar & Storage Live trade show in Birmingham, UK. With the UK's solar capacity surpassing 16GW in 2024 and residential installations making up over 80% of solar projects, Tigo is offering a comprehensive range of solutions to support UK installers during this rapid growth phase.
Key offerings include:
1. EI Residential Solution: An all-in-one solar-plus-storage system with backup capabilities.
2. TS4-X Flex MLPE: Supporting up to 800Wp for high-power PV modules.
3. Green Glove Service Program: Providing exceptional support for installers.
4. Tigo Installer Loyalty Program: Rewarding installers with benefits for completing training.
Tigo's Chief Marketing Officer, James Dillon, will present on 'Maximizing Performance and ROI with Optimization' at the event on September 25th.
Tigo Energy, Inc. (NASDAQ: TYGO), a leading provider of intelligent solar and energy software solutions, has filed a patent infringement lawsuit against Zhejiang Benyi New Energy Co., The complaint, filed on August 21, 2024, in the Shanghai Intellectual Property Court, alleges that certain Zhejiang Benyi rapid shutdown devices infringe on Tigo's China Patent No. 200880114564.0, which relates to rapid shutdown technology.
Rapid shutdown is a critical safety function for photovoltaic systems on buildings, designed to reduce electrical shock risk to emergency responders. Tigo, a leader in this technology with over 150 patents granted or pending, actively licenses its patented technology and has prevailed in multiple patent disputes. Millions of Tigo products are installed globally, providing optimized, monitored, and safe solar solutions.
Tigo Energy, Inc. (NASDAQ: TYGO), a leading provider of intelligent solar and energy software solutions, has filed a patent infringement lawsuit against Zhejiang Benyi New Energy Co., The complaint, filed in the Shanghai Intellectual Property Court on August 21, 2024, alleges that certain Zhejiang Benyi rapid shutdown devices infringe on Tigo's China Patent No. 200880114564.0, which relates to rapid shutdown technology.
Tigo is a leader in rapid shutdown technology and module-level power electronics (MLPE), with over 150 patents granted or pending. The company actively licenses its patented technology and has prevailed in multiple patent disputes. Millions of Tigo products are installed worldwide, providing optimized, monitored, and safe solar solutions.
Tigo Energy (NASDAQ: TYGO) announces its comprehensive lineup of installer service solutions for the 2024 RE+ tradeshow, focusing on Total Quality Solar. The showcase includes:
- Green Glove Service Program: In-depth support services for installers
- TS4-X Technology: Compatible with high-power solar modules up to 800W
- Tigo Academy: Comprehensive training curriculum for installers
- EI Professional: Enhanced monitoring and management tools
These offerings aim to improve solar installation efficiency and quality across residential and commercial segments, supporting the forecasted global solar deployment of 3.8 terawatts (TWac) of new project capacity by 2033.
Tigo Energy (NASDAQ: TYGO), a leading provider of intelligent solar and energy storage solutions, is set to present at the 2024 Annual Gateway Conference on September 5th at 8:30 a.m. PT. The conference will take place at the Four Seasons Hotel in San Francisco, CA from September 4-5.
Tigo's management team will not only deliver a presentation but also be available for one-on-one meetings throughout the event. This presents an opportunity for investors and industry professionals to gain insights into Tigo's innovative solutions and future plans. Interested parties can request an invitation or schedule a meeting by emailing conference@gateway-grp.com.
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