Fund chaired by former U.S. vice-president and Nobel prize recipient Al Gore increases to $40 million the investments raised by green technology company Tigo.
By Haaretz Service

A fund chaired by former U.S. Vice-President Al Gore is investing $10 million in an Israeli solar energy company, Army Radio reported Wednesday. The green technology company Gore’s fund invested in, Tigo Energy, developed a technology that increases the electrical production efficiency of solar panels.

Tigo energy, founded in 2007, employs about 70 workers in Israel and has offices in California, Germany and Japan as well. The Tigo system in development that will receive most of the funding, called the ‘Maximizer’, increases production efficiency by reducing the effects of wear and tear on the solar energy collection panels.
gore – Reuters – March 17 2011

Former U.S. Vice President and Nobel Peace Prize winner Al Gore speaks at a business forum in California, March 16, 2011
Photo by: Reuters

Generation’s funding increases to $40 million the amount of investment money raised so far by the Israeli company. Tigo has installed systems that have averaged electricity production increases of 10 megawatt per month, and the firm’s sales have seen increases of 400% per quarter, Army Radio reports.

Al Gore, founded Generation Investment Management, the company that will invest the $10 million in Tigo, in 2004. Gore won a Nobel Peace Prize in 2007 for his environmental advocacy work, including his participation in the Oscar-winning documentary film Inconvenient Truth.