TIGI Solar expands with Eren Groupe into Europe for heat storage solutions

TIGI Solar expands with Eren Groupe into Europe for heat storage solutions

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Tigi solar honeycomb

Solar thermal collectors made like honeycombs entice extra warmth from the solar to warmth properties in chilly nations like Germany.

TIGI (TASE: TIGI), a supplier of renewable warmth era and storage options and providers with workplaces in Israel and Austria, is happy to announce that it has entered right into a partnership with Eren Groupe, a number one international participant in power transition. Eren will take part in a fundraising spherical to turn out to be a minority shareholder of TIGI and enhance its development. Heat might be transferred straight from the solar and pumped to storage and the place it’s wanted, showed Maria Telkes in the US decades ago.
Up to 40M Euros will likely be made accessible for fairness financing of initiatives offering capability to finance initiatives valued at 100M Euros.
Maria Telkes and the Dover Sun House image

Maria Telkes and the Dover Sun House. The massive home windows confronted the solar and picked up warmth and saved the power in salts. Dover Sun House was one of many world’s first solar-heated homes. 

As the power market transitions from pure fuel to renewable power, the warmth sector has turn out to be a focus, representing a big share of worldwide power demand. Recent developments, significantly within the wake of the warfare in Ukraine, have triggered an elevated drive for transition away from fossil fuels.
TIGI has just lately accomplished the acquisition of Austrian-based SOLID, a frontrunner in large-scale photo voltaic thermal heating techniques. TIGI and SOLID put in over 250 techniques in over 30 nations and cater to quite a lot of industries and geographies. Finalizing the settlement with Eren, a pioneer of renewable energies in Europe, creates a mixed international partnership that spans know-how management, international execution, and robust monetary capability.
“We are happy to be partnering with TIGI to collectively kind a first-of-its-kind renewable warmth challenge platform,” commented Yonatan Shek, Managing Director of Eren Groupe. “We imagine that large-scale renewable thermal power presents a substantial international alternative that was beforehand underserved however has just lately gained momentum. I imagine that by becoming a member of all three firms’ experience, know-how, and know-how, we set the premise for the following vital step of our journey to facilitate the power transition and a route for additional decarbonization.”
Zvika Klier, CEO of TIGI, states, “This marks the daybreak of a pivotal journey for TIGI. We are excited to affix forces with Eren to supply a platform for Heat-as-a-Service initiatives. This collaboration and the current announcement with SOLID take us one step nearer to being a renewable warmth powerhouse, providing end-to-end options globally. With a tightly targeted worldwide crew and initiatives spanning a number of continents, TIGI is ready to make a major impression on the worldwide transition to scrub power.”
Earlier this yr TIGI purchased SOLID, a world participant within the renewable warmth area, of which TIGI holds 90%. This strategic consolidation permits TIGI to mix its renewable warmth know-how with SOLID’s international expertise and execution capability in solar-thermal techniques, inserting TIGI in a key place to develop into new markets and turn out to be a frontrunner within the International Renewable Heat Energy sector. 
“The acquisition of SOLID will allow us to develop and implement renewable energy-based warmth initiatives for industrial, industrial  and district heating makes use of on a world scale,” mentioned Klier.
“TIGI and SOLID will work diligently to develop our joint attain and to additional improve our providing within the Heat-as-a-Service enterprise mannequin. The panorama of renewable warmth is present process a seismic shift, and by becoming a member of forces with such a notable crew, we’re nicely positioned to serve this vital alternative.”
Historically Israel has a terrific tract document for amassing thermal warmth. Almost each Israeli residence has a Dude Shemesh, a solar thermal unit that heats bathe water and kitchen water from the solar.