Tigo Energy, Inc. - TYGO STOCK NEWS

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.

Tigo Energy (NASDAQ: TYGO) is showcasing its latest solar technology and installer support programs at Intersolar South America 2024 in São Paulo, Brazil. The company is highlighting its Tigo Energy Intelligence (EI) Professional software platform and the Tigo TS4 Flex MLPE device family, including the new TS4-X-O for high-power modules. Tigo is also expanding its Green Glove installer service program in Latin America, which provides comprehensive support from project design to post-installation review.

The company's commitment to Total Quality Solar is demonstrated through its advanced MLPE products for optimization, module-level monitoring, and rapid shutdown. A recent 3MWp project at the Children's Hospital in Brasília, featuring 5,400 Tigo TS4-A-O optimizers, showcases the company's product quality and service excellence.

Tigo Energy reported its second quarter 2024 financial results with a revenue of $12.7 million, marking an 81.5% decrease from the same period last year. The GAAP gross margin stood at 30.4%, while the GAAP net loss was $11.3 million. The company also recorded an adjusted EBITDA loss of $6.4 million. Cash, cash equivalents, and marketable securities totaled $20.2 million at the end of the quarter.

Tigo Energy shipped 378,000 MLPE, or approximately 144MW DC assuming an average panel size of 400W. A notable achievement was being selected for a 142MWp Solar Installation in Spain.

For the third quarter of 2024, Tigo expects revenues to be between $13.0 million and $16.0 million with an adjusted EBITDA loss ranging from $6.5 million to $8.5 million.

Tigo Energy (NASDAQ: TYGO) has announced that over 520 solar installations have enrolled in its Green Glove program, which provides support throughout the installation process. The program, focused on delivering Total Quality Solar, has benefited installers across four continents, with a primary emphasis on the Commercial and Industrial (C&I) market.

The Green Glove process includes a comprehensive design review, on-call support during installation, and post-installation review. Nearly 60% of sign-ups are from North America, with 70% globally coming from the C&I segment. The program aims to drive quality across the solar value chain and share insights from Tigo's extensive experience in the market.

Tigo Energy Inc. (Nasdaq: TYGO), a leading provider of intelligent solar and energy software solutions, has announced it will hold a conference call on Tuesday, August 6, 2024, at 4:30 p.m. Eastern time to discuss its financial results for the second quarter ended June 30, 2024. The company will issue a press release with the financial results prior to the call. Tigo management will host the presentation, followed by a question-and-answer session.

Interested parties can register for the conference call online and are advised to do so at least 10 minutes before the start time. The call will be broadcast live and available for replay via the company's website. For any difficulties with registration or connection, participants can contact Gateway Group at (949) 574-3860.

Tigo Energy, Inc. (NASDAQ: TYGO) has announced that MidNite Solar Inc. has licensed Tigo's rapid shutdown technology for its module-level products. This licensing agreement allows MidNite Solar to use Tigo's patented technologies in rapid shutdown and optimization. Tigo, a leader in rapid shutdown technology and Module Level Power Electronics (MLPE), has over 150 patents granted or pending. Their technology complies with key safety standards and requirements, including UL 1741, IEC 63257, and the U.S. National Electric Code.

Tigo's MLPE products are installed worldwide, providing optimized, monitored, and safe solar solutions. The company continues to invest in R&D and offers reasonable licensing terms to industry partners. This collaboration aims to drive innovation and deliver safe, reliable solutions for the solar industry.