Otovo Surpasses 1,000 Inverter Replacements with Tigo Energy Technology Partnership, Repowering Aging and Orphaned Solar

OSLO, Norway--(BUSINESS WIRE)--Otovo ASA (Euronext Oslo Børs: OTOVO; “Otovo”), a leading provider of behind-the-meter energy services for homes and businesses, today announced it has completed 1,000 inverter replacements using technology from Tigo Energy, Inc. (Nasdaq: TYGO). This milestone marks a new phase in Otovo's repowering business, which restores power for homeowners and businesses with aging or orphaned solar systems.

Highlights

• Otovo has now completed 1,000 inverter replacements using Tigo technology.
• Nearly 400,000 U.S. residential solar systems reach the 10-year age mark every year for the next five years. More than one million systems have already passed that mark.
• Tigo's open architecture allows Otovo to service many types of legacy solar systems, not just one brand.
• Tigo Inverter Power Output Control lets Otovo match new equipment to each system's original requirements.
• The partnership supports Otovo's strategy of restoring service to aging and orphaned solar systems at scale.

"Otovo's mission is to build the world's leading home energy service platform," said William J. (John) Berger, CEO of Otovo. "Reaching 1,000 inverter replacements shows that our repowering business is working. Tigo's technology gives our teams the flexibility to handle many types of legacy solar systems. For homeowners with aging or orphaned systems, that flexibility helps us get them producing power again quickly."

"The installed base of solar is now large enough that repowering needs to become a core service discipline for installers," said Zvi Alon, chairman and chief executive officer of Tigo Energy. "Otovo shows what this opportunity looks like at scale. Companies like Otovo prove there is real demand for a repeatable way to repower aging systems and get customers back online."

Otovo uses the Tigo EI Inverter and TS4 Flex MLPE products to service a wide range of legacy solar systems. These open systems give Otovo's technicians module-level monitoring and rapid shutdown on every job. The Tigo EI Inverter's wide voltage range and compact design help Otovo's teams fit more repowering projects with fewer equipment constraints. Using Tigo Inverter Power Output Control (IPOC), Otovo's technicians set the right power output for each site during setup in the field. Together, these tools help Otovo match new equipment to each system's original requirements and simplify complex repowering jobs for its customers.

The need for repowering is growing quickly. Nearly 400,000 U.S. residential solar systems will reach the 10-year age mark every year for the next five years. More than one million systems have already passed that mark. As the installed base ages, homeowners increasingly need help with failed equipment, discontinued products, changing energy needs, and orphaned systems left behind by installers that have gone out of business. Otovo's platform, powered by its proprietary Endurance™ AI system, is built to meet this need at scale.

About Otovo

Otovo is an AI-Native behind-the-meter energy services company serving homes and businesses across 14 European markets, Israel and the United States. Otovo combines equipment monitoring, rapid repairs, dependable power supply and grid participation in one service. Endurance™, Otovo’s AI platform, monitors installed equipment, optimizes service from problem detection to resolution and coordinates repairs around the clock. “Your Power, Backed by Ours.” Otovo is listed on Euronext Oslo Børs under the ticker OTOVO. Visit us at otovo.com.

Over Tigo Energy

Tigo Energy, Inc. (Nasdaq: TYGO) werd opgericht in 2007 en is wereldwijd marktleider in de ontwikkeling en levering van slimme hardware- en softwareoplossingen die de veiligheid verbeteren, de energieopbrengst verhogen en de bedrijfskosten verlagen van residentiële, commerciële en utiliteitssystemen op zonne-energie. Tigo combineert zijn Flex MLPE (Module Level Power Electronics) en solar optimizer technologie met intelligente, cloud-gebaseerde softwaremogelijkheden voor geavanceerde energiemonitoring en -controle. De MLPE-producten van Tigo maximaliseren de prestaties, maken energiemonitoring in realtime mogelijk en zorgen voor een code-vereiste snelle uitschakeling op moduleniveau. Het bedrijf ontwikkelt en produceert ook producten zoals omvormers en batterijopslagsystemen voor de residentiële zonne-energie-plus-opslagmarkt. Ga voor meer informatie naar www.tigoenergy.com.

Toekomstgerichte verklaringen

This press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements regarding the company’s expectations, plans, objectives, strategy, future operations, business performance, financial condition, prospects, growth opportunities, market position, anticipated benefits of transactions or initiatives, and other statements that are not historical facts. Forward-looking statements may be identified by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions.

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Contacts
Matt Dallas
917-363-1333
[email protected]

Technica Communications for Tigo Energy
Cait Caviness
Email: [email protected]