TechnoSpin Wind raises $8m from 21Ventures

TechnoSpin Wind has raised $8 million from US venture capital fund 21 Ventures, according to a report in "Globes". The company declined to disclose its valuation for the fund raising round.

TechnoSpin was founded in 2004 but not incorporated until the end of 2007 at the start of the latest funding round. The company was funded initially by its three founders, CEO Maxim Rakov, VP Business Development Natalie Barlev, and Vladimir Kotler, CTO and inventor of the company's technology.This is 21 Ventures' third investment in an Israeli cleantech startup, following previous investments in BPC BioPetroClean and 3GSolar (formerly OrionSolar).



TechnoSpin currently has two areas of activity. One is the development and production of rotors for small wind turbines which, theoretically, should also be suitable for use in large wind turbines. The company is already negotiating the first sales of these products which, it claims, are not limited to areas with strong winds, are cheaper to produce, and can be assembled anywhere in the world. TechnoSpin's small turbines will most likely compete with those produced by the industry's two leading players, Bergey Windpower Co., and Southwest Windpower of the US.

TechnoSpin's other field of activity is the development of wind turbine gears. Turbines are operated by a generator and a gearbox, which produce torque that is then converted into electrical power. The gearbox is, essentially, a mechanical mechanism which enables the torque to be generated with the minimum loss of power.

According to Rakov, "Our goal is to launch a pilot with the gear with 11 of the world's leading turbine manufacturers, and if it is a success, the sky's the limit, since it won't be limited solely to wind turbines, but will also be suited for use in aircraft, cars, washing machines, the mining industry, metalworking - any mechanical facility that produces electricity.

"As for the small turbine, we'll be making a launch in May when we erect the first product on our own roof. We've already had initial sales in this project. We're currently negotiating a number of sales with potential customers overseas while in Israel the interest is coming from potential distributors," Rokov told Globes.

Israeli nanotechnology aids large-area solar cell

The "EE Times" reports that a scientist at Israel's Bar-Ilan University claims that he has managed to create a solar cell 100 times bigger than a typical solar cell, using nanotechnology methods. Professor Arie Zaban, head of Bar-Ilan University's Nanotechnology Institute, is an expert in photovoltaics. In a recently patented technique, Professor Zaban demonstrated how metallic wires mounted on conductive glass can form the basis of solar cells with efficiency similar to that of conventional, silicon-based cells, but that are much cheaper to produce.

"Cost is an important factor in the success of any solar technology," Professor Zaban said. "To become widely adopted, solar cells must generate electricity at lower cost than what we now spend on fossil fuels. At the same time, we have to make the basic infrastructure extremely affordable because the third-world countries that stand to reap the most benefit from solar power usually lack the money to invest in it. By making cells more efficient and keeping material costs down, nano-based techniques are moving us closer to that goal." Professor Zaban serves as an advisor to Orionsolar, a Jerusalem-based company that has entered into partnership with Bar-Ilan University and is developing commercial applications for inexpensive, dye-based photovoltaics based on his work. "Given the state of the technology, I believe that the new solar cells will be available commercially within the next five years," he said.

Click here for the rest of the article and more details on Professor Zaban's technology.

3GSolar and nanotechnology-based solar power

Israel21c reports on the latest news from 3GSolar, a Jerusalem-based developer of low-cost photovoltaic solar energy modules. Orionsolar is a portfolio company of 21 Ventures.

According to the company's CEO, Barry Breen, 3GSolar's use of nanotechnology could make solar power cost-competitive with power produced by traditional oil and coal sources. The company's technology uses nano-sized cells, coated with an organic dye engineered to react when hit by sunlight to produce energy more efficiently, effectively, and cheaply, than current solar systems. The system includes cells consisting of titanium oxide layers coated with the organic dye and connected to a battery.

The key is in the nano-sized chunks of titanium oxide. "At sizes as small as 10 nanometers, the laws of physics take some interesting turns," says Breen. "We have discovered that when light hits titanium oxide particles of this size coated with our dye, a great deal of energy is produced. It's like photosynthesis. Just as a plant produces nourishment for itself when exposed to sunlight, our cells produce energy, converted to electricity."

The energy produced by the reaction is shunted into a charge controller, and then transferred to a battery, where it is stored. 3GSolar's system, he says, is more efficient, since the dye technology can be used even under low lighting situations, guaranteeing a greater power yield as it continues to gather energy even during the early morning or late afternoon hours. And 3GSolar's dye cell system produces power much more cheaply; module production costs are about half that of silicon photovoltaics, while the cost to put up a manufacturing line is a small fraction of those of silicon based photovoltaic systems, he adds.

Breen, who has a degree in nuclear engineering from MIT, began managing 3GSolar half a year ago, guiding the company's dozen employees into perfecting the innovative technology, which was developed in coordination with Bar Ilan University. It's been patented, and according to Breen, it's almost ready for prime time.

3GSolar's systems, which should be commercially available within a year, will be manufactured in Israel. The company plans to initially take on electrification projects in the Third World, providing power to homes and businesses in Africa, Asia and South America.