05/27/2009
Solar power efficiency startup Tigo Energy raised $10 million from ICV, Matrix, OVP and Clal Energy
Solar power efficiency startup Tigo Energy has closed a $10 million second round of funding led by Israel Cleantech Ventures (ICV), and joined by all existing investors, Matrix Partners, OVP and Clal Energy.
Tigo developed a unique technology which significantly increases efficiency in photovoltaic solar installations. The company’s Maximizer System (patent pending) can immediately return up to 20% power from today's traditionally architected systems. The company successfully deployed 18 installations in the US, Europe and Japan in cooperation with several of solar industry leaders.
Tigo was founded in 2007 by Sam Arditi, the company CEO, and Ron Hadar, the President and Chief Operating Officer of Tigo. Arditi previously served as the Vice President and General Manager for the Cellular and Handheld Group of Intel. Prior to founding Tigo Energy, Ron was a Vice President and General Manager at MKS Instruments. Modi Avrutsky has joined Tigo Energy as the Vice President of Power products R&D and General Manager of Tigo Energy Israel.
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13:29 Posted in Energy Solutions | Permalink | Comments (0) | Email this | Tags: tigo energy, ron hadar, sam arditi, modi avrutsky, israel cleantech ventures, matrix partners
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