Download now: King Coal Triple Play

Tigo Energy's Venture Capital

$50 Million in Investments

Written by Brianna Panzica
Posted December 12, 2011

On Monday, Tigo Energy announced it has raised $18 million in a fourth round of venture capital.

The investments, now totaling over $50 million according to the Sacramento Bee, will go to broadening the company’s manufacturing and expanding its international scope with its SmartModule.

The SmartModule technology in which Tigo specializes increases the efficiency of photovoltaic solar arrays.  It enables the arrays to create more power, up to 20% more, subsequently increasing financial returns to the consumer.

And as the Sacramento Bee reports, their technology can be used on any sized system: residential, commercial, or even utility-scale.

According to Smart Energy News, a number of solar module producers have begun incorporating this technology into their products.  These include Hanwha SolarOne (NASDAQ: HSOL), UpSolar, and Trina Solar (NYSE: TSL).

Bessemer Venture Partners is leading the investments for Tigo Energy’s expansion.  Bessemer’s Umesh Padval expressed the company’s optimism to the Sacramento Bee:

“Tigo’s strong execution-oriented team, large market acceptances, robust channel partners and differentiated products are very impressive and I look forward to partnering with them as they continue building a successful company.”

Generation Investment Management, Matrix Partners, and OVP Venture Partners are some of the other investors involved in Tigo’s venture capital.

The expansion of this company’s product could bode well for the solar industry in general, especially as projects begin to succeed without government loan guarantees.

An increase in financial return and product efficiency might be the extra boost the industry needs.

That’s all for now,

Brianna


Energy demand will increase 58% over the next 25 years.

Trillions will be spent to secure the world's energy supply over the next two decades... and all sources are on the table.

Oil, Natural Gas, Solar, Wind. There will be money made.

Follow the money trail. Sign up for Energy and Capital now--It's free.

We never spam! View our Privacy Policy

By signing up, you'll also get our latest report, Six Oil & Gas Steals.


Related Articles

Big Oil Solar Play
Editor Jeff Siegel discusses Big Oil's latest solar play.
Cleantech IPOs
In 2011, a number of cleantech companies have filed for IPO.
U.S. Solar Stocks
Editor Jeff Siegel reveals a U.S. solar company that can compete against China and heavily-subsidized fossil fuels.
Clean Tech Venture Capital Soars
Despite recent energy companies' bankruptcy, Americans and investors alike maintain faith in the cleantech industry.


Invest in the Lithium Revolution
Lithium Demand is Going Berserk
Investing in the Tesla (NASDAQ: TSLA) Powerwall
Tesla (NASDAQ: TSLA) Just Killed Your Power Company
Tesla (NASDAQ: TSLA) Powerwall Investing
How to Make $800 Million in One Week!
Putin and Saudi Arabia: Oil Dream Team Meet
Marijuana Bank Investing
3 Guaranteed Profits: Gambling, Prostitution, and...
New Report: Nuclear's Worldwide Expansion