Tigo Energy Welcomes GoodWe Technologies as Latest Rapid Shutdown Licensee

The licensing agreement empowers GoodWe to deploy products containing Tigo rapid shutdown intellectual property for compliance with safety regulations.

CAMPBELL, Calif.--(BUSINESS WIRE)-- Tigo Energy, Inc. (Nasdaq: TYGO), a leading provider of intelligent solar and energy storage solutions, today announced that GoodWe Technologies Co., Ltd., a solar inverter manufacturer and smart energy solution provider, has licensed Tigo Module-Level Rapid Shutdown Technology. Under the agreement, GoodWe products compliant with and qualified for certification under the SunSpec Rapid Shutdown Specification will not infringe on claims of Tigo licensed patents. Tigo rapid shutdown technology will be deployed in the GoodWe Rapid Shutdown Device.

Tigo is a leader in rapid shutdown technology and Module Level Power Electronics (MLPE), with more than one hundred patents granted or pending. The Company 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, 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.

“We welcome GoodWe into the family of companies in the solar industry that understand the value of innovation and those that are committed to continuously bringing solar installers the equipment and safety on which they rely,” said Zvi Alon, chairman and CEO at Tigo Energy, Inc. “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 product 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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Media Relations Contact:

Technica Communications

Cait Caviness

tigoenergy@technica.inc

Investor Relations Contact:

Gateway Group

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Source: Tigo