Tigo Energy announced the acquisition of FSIGHT, an energy data analytics software company based in Hod HaSharon, Israel. With FSIGHT, Tigo expands its ability to leverage energy consumption and production data for solar energy producers, adding a powerful prediction platform that provides rich and actionable system performance data, from the grid down to the module level. The transaction was signed on Tuesday, November 29, 2022.
As a software-as-a-service (SaaS) company, FSIGHT gives utilities, IPPs (Independent Power Providers), solar assets owners, EPCs and investors high-fidelity visibility into the performance of their solar energy systems, the energy demand served by those systems and accurate predictive data about the same. With the ability to deploy new, accretive service offerings, the FSIGHT platform provides Tigo a scalable data analytics infrastructure and prediction engine to accelerate the deployment and optimization of distributed energy resources (DERs). Backed by five patents and patents pending, as well as a low operations cost per endpoint business model, FSIGHT infrastructure enables accurate behind-the-meter energy insights that scale quickly for DER projects of all sizes. For smart-meter utilities, this means more accurate forecasting for load, generation and pricing dynamics, as well as portfolio composition and the ability to automate customer clustering. FSIGHT currently serves prominent energy companies in the U.S., Israel and Central and Eastern Europe.
“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, CEO 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 team at the Ra’anana, Israel, office. FSIGHT’s customer support organization will operate without interruption as the company integrates into the Tigo operation over the coming weeks and months. The two companies will structure the new operation to expand their combined offerings to make the deployment of accurate, scalable and flexible predictive analytics even more convenient for its customers.
“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.”
News item from Tigo Energy
