Israel Science Technology

Solar power farms developer Arava Power Company (APC) has secured $15 million investment from Siemens, through its equity investment company Siemens Project Ventures GmbH (SPV). The equity investment, that securing Siemens a 40% stake in the company, will make it possible to build Israel’s first commercial solar photovoltaic farms – to be located in the region between the southern Dead Sea and the Red Sea.

“Siemens is the ideal partner for Arava Power and our property partners for winning over others interested in producing solar energy in Israel,” said Jonathan Cohen, CEO of Arava Power. “Our strategic partnership will make it possible for our country to reach its ambitious goals of clean air and renewable energy even faster.”

The investment in the Israeli solar energy firm is aimed at constructing the solar fields with a significant proportion of Siemens know-how. Siemens has concluded a framework agreement to build solar plants with a total output of 40 megawatts (MW). The first project will be the construction of a plant with an output of up to 4.9 MW at Kibbutz Ketura, near Eilat. Additional photovoltaic plants are already being planned for the Negev and Arava deserts and Israel’s aim is to meet around ten percent of its total energy needs with renewable energy plants by 2020.

“This investment is another consequential step in further strengthening our green and sustainable technologies,” said Peter Löscher, President and CEO of Siemens AG. “Thanks to its intensive sunshine and steadily growing demand for energy, Israel is an ideal location for further developing our solar business.”

Founded in 2006 by Arava Power is owned by Global Sun Partners, a partnership with Kibbutz Ketura and American Investors led by the company President Yosef Abramowitz. The company is seeks to supply 10% of Israel’s electricity needs with the development of solar energy plants with Kibbutzim, Moshavim and other land owners, especially in the south of Israel.

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Solar power efficiency startup Tigo Energy has closed a $10 million second round of funding led by Israel Cleantech Ventures (ICV), and joined by all existing investors, Matrix Partners, OVP and Clal Energy.

Tigo developed a unique technology which significantly increases efficiency in photovoltaic solar installations. The company’s Maximizer System (patent pending) can immediately return up to 20% power from today's traditionally architected systems. The company successfully deployed 18 installations in the US, Europe and Japan in cooperation with several of solar industry leaders.

Tigo was founded in 2007 by Sam Arditi, the company CEO, and Ron Hadar, the President and Chief Operating Officer of Tigo. Arditi previously served as the Vice President and General Manager for the Cellular and Handheld Group of Intel. Prior to founding Tigo Energy, Ron was a Vice President and General Manager at MKS Instruments. Modi Avrutsky has joined Tigo Energy as the Vice President of Power products R&D and General Manager of Tigo Energy Israel.

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Energy efficient lighting solutions provider Metrolight has secured an investment of $9 million led by Virgin Fuels and Gemini Israel Funds with participation from Israel Cleantech Ventures and Altshuler Shaham. The Israeli company, that provides electronic ballasts for HID lighting, will use the funds to accelerate its expansion and to meets the increasing global demand for energy efficient lighting.

"Inefficient lighting is one of the largest sources of energy waste," said Sir Richard Branson, the founder of Virgin Fuels investment firm. "Through Virgin Fuels, we invest in companies such as Metrolight that help reduce greenhouse gas emissions and substantially improve energy efficiency around the world."

Based on a patented and field proven lighting technology, Metrolight's products help customers reduce up to 65% of lighting energy costs, double lamp life, drastically reduce maintenance costs and take full control of their lighting systems through integrated software management systems. The company cooperates with most of the world's largest and leading luminaire manufacturers and has installed hundreds of thousands of ballasts since launching the product in 2002.

Metrolight was founded 1996 by Yigal Yanai and led by Igal Zamir, CEO and President, and Yoav Leeran of Sampal Capital and Chairman of the Board, Metrolight. Shai Weiss from Virgin Fuels, Adi Pundak-Mintz from Gemini and Glen Schwaber from Israel Cleantech Ventures will join the Metrolight Board.

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