Tigo Energy announced the acquisition of FSIGHT, an energy data analytics software company based in Hod Hasharon, Israel. With the acquisition, Tigo intends to add a prediction platform that provides actionable system performance data from the grid to the module level.
Tigo Energy, founded in 2007, specializes in the development and manufacture of inverter hardware and software solutions as well as energy storage products. For example, Tigo recently announced a new device that that uses Pure Signal technology that uses its own rapid shutdown transmitters to rapidly shutdown utility-scale solar plants.
FSIGHT was founded in 2015 by Eveline Steinberger, a serial entrepreneur behind Blue Minds, Amos Lasker, and Amrav Investments. As a software-as-a-service (SaaS) company, FSIGHT gives utilities, independent power providers, solar assets owners, EPCs and investors visibility into the performance of their solar energy systems, the energy demand served by those systems, and predictive data.
The software platform provides a scalable data analytics infrastructure and prediction engine that Tigo hopes help accelerate the deployment and optimization of distributed energy resources (DERs).
FSIGHT’s infrastructure platform translates behind-the-meter energy insights that can help deploy DERs of all sizes, the company reports. For smart-meter utilities, FSIGHT says it can forecast load, generation and pricing dynamics, as well as portfolio composition and the ability to automate customer clustering.
“Our mission has been to facilitate the energy transition by using data to reinvent business models for a greener energy market of the future, and Tigo’s global footprint allows us to significantly accelerate these ends,” said Evgeny Finkel, chief executive officer of FSIGHT. “Through the support of Tigo and its vast installed base, we will be able to provide even more accurate predictions about customers’ energy systems. I am delighted to join the Tigo team and bring the best of both companies to our customers.”
The FSIGHT team will join the Tigo Energy team in its Ra’anana, Israel, office.
“The acquisition of FSIGHT strengthens our leadership position in MLPE by adding both a new layer of sophisticated energy data tools and the opportunity to expand our data services business in solar,” said Zvi Alon, chairman and CEO at Tigo Energy, Inc. “With FSIGHT, AI and machine learning technology forecasts electricity consumption and generation of individual endpoints or aggregated portfolios, which we believe benefits stakeholders all along the solar value chain. We look forward to further evolving our comprehensive digital platform to optimize the solar experience for all parties, from commissioning through operations and maintenance.”
Earlier this month, Tigo announced that its intention to list as a public company on the Nasdaq Capital Markets through a special purpose acquisition company (SPAC) merger with ROTH CH Acquisition IV Company (ROCG), a SPAC platform managed by Roth Capital Partners and Craig-Hallum Capital Group. If the SPAC merger succeeds, TIGO Energy will list in 2023 with the company ticker, TYGO.
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