Otovo Surpasses 1,000 Inverter Replacements with Tigo Energy Technology Partnership, Repowering Aging and Orphaned Solar
OSLO, NORWAY, October 12, 2026 - 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 are expected to 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 indicates 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 EnduranceTM 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. EnduranceTM, 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.
About Tigo Energy Founded in 2007, Tigo Energy, Inc. (Nasdaq: TYGO) is a worldwide leader in the development and provider 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.
Disclaimer This press release contains forward-looking statements, forecasts and estimates. Words such as "expect," "will" and variations of such words and similar expressions are intended to identify forward-looking statements. Although Otovo's management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks, contingencies and uncertainties, many of which are difficult to predict and generally beyond the control of Otovo, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Furthermore, these forward-looking statements, forecasts and estimates are only as of the date of this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Otovo disclaims any obligation to update these forward-looking statements, forecasts or estimates to reflect any subsequent changes that the Company becomes aware of, except as required by law.
This press release is for information purposes only, and the information contained herein does not constitute either an offer to sell, or the solicitation of an offer to purchase or subscribe for securities of the Company in any jurisdiction, in particular in Norway. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. It should not be regarded by recipients as a substitute for exercise of their own judgement. All opinions expressed herein are subject to change without notice. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.
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Contacts
Matt Dallas 917-363-1333 matt.dallas@icrinc.com
Technica Communications for Tigo Energy Cait Caviness Email: tigoenergy@technica.inc