HOD HASHARON, Israel and LUXEMBOURG, July 3, 2024
/PRNewswire/ -- TIGI (TASE: TIGI),
a provider of renewable heat generation and storage solutions and
services with offices in Israel
and Austria, is pleased to
announce that it has entered into a partnership with Eren Groupe,
a leading global player in energy transition. Eren will participate in a fundraising round
to become a minority shareholder of TIGI and boost its growth.
Furthermore, the two companies will set up dedicated platforms for
developing, financing, and operating renewable heat projects via an
innovative Heat-as-a-Service model, making clean energy accessible
and affordable for industries globally. Up to 40M Euros will be made available for equity
financing of projects providing capacity to finance projects valued
at 100M Euros.
As the energy market transitions from natural gas to renewable
energy, the heat sector has become a focal point, representing a
large share of global energy demand. Recent developments,
particularly in the wake of the war in Ukraine, have triggered an increased drive for
transition away from fossil fuels.
TIGI has recently completed the acquisition of Austrian-based
SOLID, a leader in large-scale solar thermal heating systems. TIGI
and SOLID installed over 250 systems in over 30 countries and cater
to a variety of industries and geographies. Finalizing the
agreement with Eren, a pioneer of
renewable energies in Europe,
creates a combined global partnership that spans technology
leadership, global execution, and strong financial
capacity.
"We are pleased to be partnering with TIGI to jointly form a
first-of-its-kind renewable heat project platform," commented
Yonatan Shek, Managing Director of
Eren Groupe. "We believe that
large-scale renewable thermal energy presents a considerable global
opportunity that was previously underserved but has recently gained
momentum. I believe that by joining all three companies' expertise,
technology, and know-how, we set the premise for the next important
step of our journey to facilitate the energy transition and a route
for further decarbonization."
Zvika Klier, CEO of TIGI, states,
"This marks the dawn of a pivotal journey for TIGI. We are excited
to join forces with Eren to provide
a platform for Heat-as-a-Service projects. This collaboration and
the recent announcement with SOLID take us one step closer to being
a renewable heat powerhouse, offering end-to-end solutions
globally. With a tightly focused international team and projects
spanning multiple continents, TIGI is set to make a significant
impact on the global transition to clean energy."
About TIGI
TIGI develops renewable heat generation and storage solutions
and services, generating savings and reducing environmental impact.
It supplies efficient systems that include its own patented and
highly efficient solar thermal collectors, industrial heat pumps,
smart storage, and cloud services. For more information, please
visit www.tigisolar.com
About Eren Groupe
Over the past 20 years, Pâris Mouratoglou, David Corchia and their teams have significantly
contributed to the expansion of new and renewable energy sources.
They have executed projects with a combined capacity of more than
15 GW through ambitious and successful partnerships forged with
major energy companies, notably EDF and TotalEnergies, as
well as local businesses and entrepreneurs in over 40 countries. In
recent years, Eren has been
broadening the scope of its ambitions to become a key player in the
energy transition and decarbonization. For more information:
www.eren-groupe.com
For media inquiries, please contact:
TIGI
Noa Rozental
marketing@tigisolar.com
Eren Groupe
Brunswick
Group
Sarah Levy-Quentin
EREN@brunswickgroup.com
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SOURCE TIGI Solar