TIGI Enhances Global Reach in Renewable Heat Sector with Strategic SOLID Acquisition

TIGI, an Israeli renewable heat technology company, has successfully consolidated its position in the global renewable energy market through the acquisition of SOLID, a leader in solar-thermal systems. The recent approval of TIGI’s restructuring of SOLID by an Austrian court marks a significant milestone, as TIGI now owns 90% of SOLID. This move aligns both companies’ expertise and resources, enhancing their capacity to deliver renewable heat solutions worldwide.

The partnership is poised to leverage TIGI’s innovative solar collector technology and SOLID’s extensive experience in executing large-scale projects globally. Together, they aim to tap into a broader client base across various sectors, including industrial and commercial markets. In 2023, the collaboration kicked off with a project in California, where they developed a large-scale renewable heat system for an industrial plant, offering heat-as-a-service which reduces costs and emissions by minimizing natural gas usage.

Zvika Klier, CEO of TIGI, emphasized the strategic importance of the acquisition, stating it will propel the development of heat projects for a range of uses worldwide. Stephan Jantscher, CEO of SOLID, also expressed enthusiasm about the merger, highlighting the combined capabilities that will cater to the unique demands of their customers.

This acquisition comes at a time when the energy sector is rapidly moving away from fossil fuels, driven by increased climate awareness and recent geopolitical events. By merging their technologies and expertise, TIGI and SOLID are well-equipped to address the growing demand for renewable heating solutions, positioning themselves as key players in the evolving energy landscape.