The licensing agreement empowers MidNite Solar to deploy innovative products containing Tigo safety and optimization intellectual property.
Tigo Energy, Inc. (NASDAQ:TYGO) ("Tigo"), a leading provider of intelligent solar and energy software solutions, today announced that MidNite Solar Inc., a manufacturer of innovative alternative energy products, has licensed Tigo rapid shutdown technology for its module-level products. Under the agreement, MidNite Solar products are authorized to use the technologies described in Tigo rapid-shutdown and optimization patents.
Tigo is a leader in rapid shutdown technology and Module Level Power Electronics (MLPE), with more than one hundred fifty (150) patents granted or pending, and actively licenses its patented technology to other solar equipment manufacturers and has prevailed in multiple patent disputes. Tigo rapid shutdown technology is compliant with UL 1741, the Standard for Safety for Inverters, Converters, Controllers and Interconnection System Equipment for Use With Distributed Energy Resources, IEC 63257, the SunSpec rapid shutdown specification, and rapid shutdown requirements of the U.S National Electric Code (NEC). Millions of Tigo MLPE products are installed worldwide, providing optimized, monitored, and safe solar to protect critical solar energy infrastructure and deliver consistent ROI for the lifetime of renewable energy systems.
"Driving the state-of-the-art forward is fundamental to the success of the solar industry, and I am delighted to see MidNite Solar continue to expand its portfolio with products focused on safety and optimization," said Zvi Alon, chairman and CEO at Tigo Energy. "Tigo continues to invest in research and development, drive innovation, and deliver safe and reliable solutions for the solar industry. Our patents are the manifestation of this investment, and we offer reasonable and non-discriminatory licensing terms to companies in the industry."
For more information about the portfolio of Tigo Flex MLPE solutions, please visit the Tigo website and keep up with the latest news by signing up for the Tigo newsletter here.
About Tigo Energy
Founded in 2007, Tigo Energy, Inc. (NASDAQ:TYGO) is a worldwide leader in the development and manufacture of smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems. Tigo combines its Flex MLPE (Module Level Power Electronics) and solar optimizer technology with intelligent, cloud-based software capabilities for advanced energy monitoring and control. Tigo MLPE products maximize performance, enable real-time energy monitoring, and provide code-required rapid shutdown at the module level. The company also develops and manufactures products such as inverters and battery storage systems for the residential solar-plus-storage market. For more information, please visit www.tigoenergy.com.
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