Showing posts with label Negev. Show all posts
Showing posts with label Negev. Show all posts

Tuesday, October 6, 2009

Ashalim solar thermal tender delayed again

The tender for the solar thermal power project at Ashalim, Israel has suffered its third delay, because not all the regulatory permits have been obtained, the electricity production license has not yet been written, and the financial aid criteria for the winner have been formulated, according a report in Globes.

Globes reports that the deadline for submitting bids to the joint Ministry of Finance and Ministry of National Infrastructures tender committee, headed by Deputy Accountant General Avi Dor, has been pushed back from October 21, 2009 to December 10, 2009 .

The Ministries of Finance and National Infrastructures have allowed the seven bidders who passed the prequalification stage of the tender more time to prepare their bids.

The $700-800 million build-operate-transfer (BOT) tender is for construction and operation of two solar thermal power plants with a total output of 220 Megawatts.

The seven consortia participating in the Ashalim tender are:

Related Posts:

Finance and Infrastructures Ministries in dispute over technology for Israel's first solar power station


Skypower mulls bid for Negev solar project

Israel plans 250-MW solar power plant

Saturday, February 21, 2009

Arison plans private solar thermal power plant in Negev

Arison Holdings Ltd. subsidiary Housing and Construction Holding Co. Ltd. (Shikun u'Binui) plans to build a large solar power plant in the Negev, costing $400-500 million, according to a report in "Globes".

The solar thermal power plant would reportedly generate at least 100 megawatts of electricity on a 3,500-dunam (875-acre) site. If constructed, it will be Israel's largest privately owned solar power station.

Shikun u'Binui is also participating in two government tenders for the construction of solar thermal and photovoltaic power plants at Ashalim in the Negev. Shikun u'Binui is partnering with Solel and Bateman Litwin NV in the tender for the solar thermal power plant, and partnering with Spain's Elecnor SA in the tender for the photovoltaic power plant.

Related Posts:

Skypower mulls bid for Negev solar project

Arison's Blue-Green unit to build desalination plants

Sunday, February 8, 2009

Rotem assists with plans for 50 MW solar power station at Nevatim Airbase

The Rotem Renewable Energy Center is preparing a Request for Information ("RFI") for the construction of a solar power station at the Nevatim air force base in the Negev. It will be a 50 MW solar power station, the first of its kind on an Israeli military base, according to an announcement by Rotem.

The Ministry of Defence is building the solar power station to help ensure regular power supply to the base, even in case of severe failures of the state electric grid.

Dan Peer
, CEO Rotem Industries: "Rotem Industries will provide the Ministry of Defense with every assistance needed to establish the solar power station and this will be based on the vast knowledge that has been accumulated over many years in the solar field. This initiative is an addition to the establishment of the Renewable Energy Center that is unique and possesses huge technological and scientific abilities".

Rotem Industries, located near Dimona, is home to BrightSource Energy's Solar Energy Development Center, an important test site for solar thermal technology.

In December 2008, Rotem Industries and the Midwest Research Institute, which manages and operates the Colorad0-based National Renewable Energy Laboratory (NREL), announced an agreement to collaborate to develop and commercialize new clean technologies.

Related Posts:

Rotem Industries and Midwest Research Institute to establish renewable energy technology center in Dimona

Helioris Solar partners with Rotem Industries on solar thermal R&D

IDF considers Better Place infrastructure and electric troop carriers

BrightSource / Luz II dedicate Negev Solar Energy Development Center

Friday, January 16, 2009

Israel sets renewable energy target of 10%

Israel's government this week set a target of producing 10 percent of the country's electricity from renewable energy sources by 2020.

The decision was made by the socio-economic cabinet, headed by Finance Minister Roni Bar-On. The panel also set an interim target of 5 percent by 2014.

The Negev and Arava regions will become "national preference" regions for renewable energy, according to the plan put forward by Minister of National Infrastructure Binyamin Ben-Eliezer. Ben-Eliezer's plan calls for the construction of 10 solar power stations in the Negev and Arava between 2010-2020.

Israel has already initiated a process of building solar thermal and photovoltaic power plants at Ashalim, in the Negev desert, that are expected to be operational by 2012.

"Promoting the generation of renewable energy will not only lead to a reduction in the dependency on fossil fuels and the promotion of environmental values but advancing this industry in the south will lead to the development of the periphery in the south," Bar-On said in a statement.

Israel currently produces only 1% of its electricity from renewable sources, while 69% is produced from coal, 23% from natural gas and 7% from diesel fuel or fuel oil, according a report in YNet News.

Related Posts:

Arava Power solar project approved for Negev kibbutz

Finance and Infastructures Ministries in dispute over technology for Israel's first solar power station

Israel plans 250-MW solar power plant

Wednesday, January 7, 2009

Arava Power solar project approved for Negev kibbutz

Israel's Public Utilities Authority (Electricity) has approved the application of Arava Power Company for a license to build a 4.9-megawatt solar power plant at an 20-acre site at Kibbutz Ketura in the Negev. The project will cost NIS 100 million ($26 million), according to a report in Globes, and will use both photovoltaic (PV) and solar thermal technologies.

The Public Utilities Authority plenum approved the conditional license for Arava Power to produce electricity, and sent it to Minister of National Infrastructures Benjamin Ben-Eliezer.

"This is an historic day for renewable energy in Israel," Arava Power Company president Yosef Abramowitz said in a statement. "For the first time, a large solar project is being launched that will be connected to the national grid, with many more megawatts on the way in the coming years. The Public Utility Authority is making a reality Ben-Eliezer's dramatic decision to produce thousands of megawatts of electricity from renewable sources by 2020."

The first solar installation of 100 kilowatts will be built by Edig Solar, according to the Jerusalem Post.
Edig Solar uses solar thermal technology developed at the Weizmann Institute of Science in Rehovot. The plant is expected to become operational in March.

Arava Power has signed cooperation agreements with 15 kibbutzim, including Ketura and Yotvata, that own land available sufficient for the production of up to 500 megawatts of electricity at photovoltaic farms. The company predicts that a total of over 20 kibbutzim will join the venture this year.

Kibbutz Ketura owns 40% of Arava Power, and a group of US investors, led by company president Yossi Abramowitz, own the rest. Arava Power plans on announcing its brand-name institutional investors by February 1st, 2009.

Related Posts:

"A Renewable Light Unto the Nations"

Renewable energy park to be built in Arava Valley

Edig Solar provides hybrid solution for cloudy days

Sunday, December 21, 2008

Rotem Industries and Midwest Research Institute to establish renewable energy technology center in Dimona

Midwest Research Institute (MRI) and Rotem Industries Ltd announced that they have reached an agreement to jointly establish a Renewable Energy Technological Center (RETC) in the Rotem Industrial Park located in Dimona, Israel.

MRI and Rotem aim to develop and commercialize new clean technologies at the RETC.
MRI is one of America's leading independent research institutes conducting research in the areas of national security and defense, energy and environment, life sciences, food and agriculture, and transportation safety. It is one of the two entities in the Alliance for Sustainable Energy, LLC, that manages and operates the National Renewable Energy Laboratory (NREL) in Golden, Colo., for the U.S. Department of Energy.

Rotem, a quasi-governmental entity, specializes in evaluating seed technologies, bringing them to market readiness and commercializing the resulting products. In 2005, Rotem established a Renewable Energy Innovation Center that is now home to projects like Leviathan Energy's experimental wind park and BrightSource Energy's "Solar Energy Development Center".

MRI and Rotem will also collaborate with TASC Capital to invest in promising renewable energy technologies.

MRI and Rotem will organize and manage the RETC, with Rotem providing the facilities and MRI providing expertise in the technical screening and evaluation of potential projects. It is anticipated the Center will be ready for operation in January 2009.

"In Israel, MRI has found innovative technologies with commercialization potential that will advance new renewable energy applications in the marketplace," said Roger Starnes, MRI Group Vice President of Strategic and Emerging Program Development. "MRI's and Rotem's capabilities complement each other and by working together through the Center we will be able to accelerate the advancement of these technologies."

This agreement would seem to put Rotem in a strong position to receive government support under a Negev renewable energy R&D program approved by the Israeli government in August, 2008.

Related Posts:


BrightSource / Luz II dedicate Negev Solar Energy Development Center

Monday, December 15, 2008

BotanoCap raises $2.3m to develop environmentally-friendly pesticides

BotanoCap Ltd., an Ashkelon Technological Industries (ATI) portfolio company, has raised $2.3 million from Swiss holding company BHCO Group, a current investor, at a company value of $11.3 million, according to a report in Globes. BotanoCap is developing patented environmentally-friendly pesticides and disinfectants based on microcapsules of essential oils.

BotanoCap is collaborating with Mekorot to develop pesticides for water sources and drinking water. BotanoCap CTO Prof. Arie Markus, vice CTO Paullina Strongin, and Regulatory Affairs Officer Dr. Charles Linder founded the company. Dr. Yigal Gezundhait, the company's CEO, recently participated in the California Israel Chamber of Commerce Cleantech Tour. BotanoCap was profiled on Israel21c last week.

Wednesday, August 6, 2008

Negev renewable energy R&D center approved by Israeli cabinet

The socioeconomic cabinet on Monday approved a plan by the Industry, Trade and Labor Ministry to establish a center in the Negev for the research and development of renewable energy technologies, according to a report in the Jerusalem Post.

"The program will enable Israel to become a major player in the global renewable energy industry," Industry, Trade and Labor Minister Eli Yishai said.

The R&D center will be established in the Negev under the auspices of the Chief Scientist's Office, and it will invest NIS 70 million ($20m) over a period of five years. The center will focus on the development of renewable and alternative energy sources for the production of electricity, such as solar and wind energy.

The Negev desert region is already a hub of cleantech and renewable energy activities. This winter, Israel Cleantech Ventures announced a partnership with Ben Gurion University (BGU), located in Beersheva. The Central Arava Fund and Oasis Investment Fund are also raising money to invest in agritech, biofuel, and solar energy companies in the region. In Dimona, Rotem Industries manages a Renewable Energy Innovation Center that hosts the BrightSource Energy / Luz II solar thermal pilot plant and a testing ground for Leviathan Energy's wind turbines. Sde Boqer is home to BGU's National Solar Energy Center, whose director, Prof. David Faiman, is a pioneer in the field and the Chief Scientist of ZenithSolar.

It will be interesting to see where in the Negev this new government-backed R&D center is located and which entities are responsible for managing it.

Boaz Hirsch, Deputy Director General for Foreign Trade at the Trade Industry, Trade and Labor Ministry, said Israeli renewable energy technology exports generated $110 million in 2007. Under the framework a new government plan, it is predicted that renewable energy exports will grow to $1 billion a year within 10 years. In addition, R&D investment is expected to increase to $350m annually during the 2008-2012 period of the program.

Thursday, June 12, 2008

BrightSource / Luz II Dedicate Negev Solar Energy Development Center

BrightSource Energy, and its Israeli subsidiary Luz II, developers of large scale solar thermal power plants, dedicated their Solar Energy Development Center (SEDC) in the Negev's Rotem Industrial Park earlier today, June 12.

I had an opportunity to attend the ceremony, which included tours of the facility and presentations by BrightSource Chairman Arnold Goldman, BrightSource CEO John Woolard, and Luz II President Israel Kroizer.

The site features more than 1,600 glass mirrors, known as heliostats, which track the sun and reflect light onto a 60 meter-high tower. The concentrated energy is then used to heat a boiler atop the tower to 550 degrees Celsius, generating steam that is piped into a turbine, where electricity can be produced. To learn more about the company's "Distributed Power Tower" technology, check out the video on their web site. Click here for an Israeli news report on the SEDC.

In April, the company entered into a series of contracts with Pacific Gas and Electric Company (PG&E) to build up to 900 MW of solar power in California, at a cost of $2-3 billion. Then, in May, BrightSource raised $115 million in a Series C round of financing from investors including Google.org and VantagePoint Venture Partners.

According to BrightSource, the solar power plants that the company is actively developing will provide enough electricity to power more than 3.2 million homes and remove emissions equivalent to what is produced by approximately one million cars.

Ironically, the bus to the event left from the Reading Power Station in Tel Aviv, which served as a reminder of how far Israel has come. Reading, built during the British Mandate in 1938, is powered by imported fossil fuels. Now, 70 years later, deep in the Negev Desert, an independent Israel is developing technology that will be exported to the United States and used to build the world's largest solar power plant.

Congratulations to BrightSource Energy and Luz II!

Related posts:

Arnold Goldman, Chairman of BrightSource Energy


BrightSource Energy raises $115 million in latest round of funding


BrightSource Energy signs large solar deal with PG&E

Tuesday, May 27, 2008

Arnold Goldman, Chairman of BrightSource Energy

BrightSource Energy is one of the hottest companies in cleantech. Earlier this month BrightSource raised $115 million in a Series C round of financing from investors including Google.org and VantagePoint Venture Partners. In April, the company entered into a series of contracts with Pacific Gas and Electric Company (PG&E) to build up to 900 MW of solar power in California, at a cost of $2-3 billion.

Arnold Goldman is the Chairman and Founder of both BrightSource Energy, based in Oakland, CA, and Luz II, the company's R&D, production and product engineering subsidiary based in Jerusalem.

In a recent interview with the web site Beyond Zero Emissions, Goldman discusses the origins of the company and its solar thermal technology. He explains why BrightSource has moved away from the parabolic troughs used by companies like Solel, and is instead building power plants based on its "Distributed Power Tower" technology consisting of thousands of relatively small mirrors (called heliostats). If you are interested in learning more about the company and solar thermal power, take a look at the online transcript of the interview.

Luz II is currently building a pilot plant in Israel's Negev Desert to test the company's technologies.

Related posts:

BrightSource Energy raises $115 million in latest round of funding


BrightSource Energy signs large solar deal with PG&E

Thursday, April 3, 2008

ZenithSolar featured in BusinessWeek

ZenithSolar, which is developing an innovative concentrator photovoltaic technology, was recently featured in BusinessWeek.

Concentrator photovoltaics (CPV) uses mirrors and/or lenses to focus and intensify the sun's light, thus producing more electricity at lower cost than traditional photovoltaic panels.

"Our goal is to utilize every suitable roof, backyard, and open space in Israel to turn households, hotels, and factories into net producers of electricity and thermal heat," says Roy Segev, the founder and chief executive of ZenithSolar. Founded in 2006, the company has raised $5 million from a handful of private investors in Israel and the U.S. Now, according to BusinessWeek, it is trying to raise an additional $10 million to $15 million to cover the cost of commercializing its technology.

Zenith, which is based in Nes Ziona, bought the rights to its solar technology from Ben Gurion University (BGU) and Germany's Fraunhofer Institute. A joint Israeli-German research team from the two institutions designed a working prototype, which consists of a 10-sq.-meter (107.6-sq.-ft.) dish lined with curved mirrors made from composite materials. The mirrors focus the sun's radiation onto a 100-sq.-centimeter (15.5-sq.-in.) "generator" that converts light to electricity. The generator also gives off intense heat, which is captured via a water-cooling system for residential or industrial hot-water uses.

The prototype has been tested over the last few years at Israel's National Solar Energy Center in Sde Boker in the Negev desert. Professor David Faiman, Director of the National Solar Energy Center, is Zenith's chief scientific officer.

After further refining the technology, Zenith plans in the coming months to take its first major steps toward commercialization. Two large-scale test installations are planned for this summer at a kibbutz and a factory. The company will put 86 of its 7-meter-high dishes on an acre of land at Kibbutz Yavne to provide the community of 250 families with more than a quarter of their energy needs. The second project will replace fuel oil used to produce heat at a large chemical plant in central Israel.

Once these projects are operational, Zenith plans to start commercial sales in Israel in 2009 and then to go abroad.

Monday, March 10, 2008

Solar Roundup

What follows is a selection of recent stories and links related to the solar industry in Israel.

Arava planning $2.5 billion solar power station

An international project management firm recently signed a memorandum of understanding for construction of a $2.5 billion solar power station in the Eilot Region in the Arava desert. The project, which is expected to develop over a five-year period, involves installation of photovoltaic (PV) panels that will eventually supply up to 500 megawatts of electricity. The agreement was signed by the Arava Power Company of Kibbutz Ketura located in the southern Arava.


SolarPower raises $1.1m

Photovoltaic energy system integration company SolarPower Israel has raised $1.1 million at a company value of a few million dollars from Precede Technologies and Rosenram Development Ltd. The company plans to use the funding to expand its business in Israel and internationally.

SolarPower co-CEOs Avinoam Levy and Alon Tamari founded the company in 2003. The company anticipates rapid growth in Israel's photovoltaic energy market following an update to the Electricity Regulations to allow the government to buy electricity generated by solar energy systems installed at businesses, commercial enterprises, and private homes at nearly four times the rate of electricity generated by usual means.

IEC wants to bid on Negev solar plant

Israel Electric Corporation (IEC) is seeking to participate in the tender for the construction and operation of the solar power plant to be built at Ashalim in the Negev. IEC wants to be a sub-contractor, providing planning, management, and construction services for one of the consortia that will participate in the tender. IEC has begun negotiations to this end with Solel Solar Systems Ltd..

Thursday, February 14, 2008

Skypower mulls bid for Negev solar project

Sources inform ''Globes'' that Canadian renewable energy company SkyPower Corporation may participate in the tender for the Negev solar power plant at Ashalim. The $600-700 million tender is due to be published by the end of the month.

A SkyPower delegation recently visited Israel and held preliminary talks about cooperation with some of the Israeli companies planning to bid in the tender. SkyPower also asked for full information about the project from the Ministry of Finance, the Ministry of National Infrastructures, and the Ministry of Environmental Protection.

SkyPower is one of Canada's largest renewable energy companies. It specializes in the development, construction, and management of wind farms and solar energy power stations. The company is currently involved in 70 renewable energy projects in various stages of development, with aggregate capacity of 7,000 megawatts (MW). Most of the projects are in Canada and the US.

The BOT (build, operate, transfer) tender is for a 250-MW solar power station that will produce 2.5% of Israel's electricity needs. Other potential builders of the plant include Israeli solar power companies Solel and Luz II, a subsidiary of BrightSource Energy, Israel Corp. unit IC Green Energy Ltd., and Housing and Construction Holding Co. Ltd. (Shikun u'Binui). Spanish energy giant Abengoa and Babcock & Brown Capital Ltd. of Australia have also expressed interest in participating in the tender.

Monday, January 21, 2008

Ben Gurion University partners with Israel Cleantech Ventures

Ben Gurion University of the Negev will invest in Israel Cleantech Ventures and will collaborate with it in locating and developing ventures in the field. The university did not disclose the amount of the investment, but sources inform ''Globes'' that it amounts to an initial few million dollars.

Israel Cleantech Ventures is the country's first specialized venture capital fund investing in energy, water, and environmental companies. Its general partners are Jack Levy, Glen Schwaber, and Meir Unkeles.

Ben Gurion University is an R&D leader in water, renewable energy, and environmental technologies. The university's research institutes include water purification, waste treatment, and solar and other renewable energies. Israel Cleantech will collaborate with these institutes and the university's technology transfer arm, BG Negev Technologies and Applications Ltd. Israel Cleantech hopes that the investment and collaboration will make it a leader in the field in Israel.

Ben Gurion University president Prof. Rivka Carmi said, "Promoting environmental research, such as water and renewable energy technologies is one of the primary goals of the university's research program. We hope to position the university as a leading institution in these fields at both the national and international levels. We hope to collaborate with more companies in the sector."

Levy added, "For us, this is a strategic investment with an institution that aims to be Israel's cleantech leader. We believe the collaboration will benefit both parties."

Ben Gurion University has invested in other venture capital funds. A university spokesman said that the investment in Israel Cleantech is the first investment in a cleantech fund, and that the university expected to make more investments in the sector.

Thursday, January 17, 2008

Finance and Infrastructures Ministries in dispute over technology for Israel's first solar power station

"If the Ministry of National Infrastructures insists on building a photovoltaic power station at Ashelim in the Negev, it will have to pay producers four times more per kilowatt/hour than for a thermal power station," Solel Solar Systems Ltd. EVP and CTO Eli Mandelberg told "Globes". He made the comment in response to the dispute between the Ministries of Finance and National Infrastructures over the technology to be used in Israel's first solar powered station.

Solel Solar is building solar power stations using its proprietary thermal technology developed several years ago. The company is expected to participate in the tender for the 250 megawatt solar power plant at Ashalim in the Negev. Mandelberg said that all tenders for solar power stations currently being published around the world are based on thermal solar energy, rather than photovoltaic energy, because it is too expensive. For this reason, photovoltaic technology is mainly used for small household or communications facilities, which cannot be linked up to electricity grids.

Mandelberg added that countries interested in photovoltaic technology are those willing to pay household electricity producers a premium to sell the electricity to the grid. Even then, only small electricity producers are involved. He said that if the Ministry of National Infrastructures insists, Israel would become the first country in the world to build a large photovoltaic power station. "It's easy to understand the Ministry of Finance's objections to the idea, since we're talking about a large expenditure on an immature technology. The Ministry of National Infrastructures isn't looking at the economic side of the picture, but wants to participate in technological development," he said.

Photovoltaic technology in based on the using silicon crystals to convert light rays into electricity. Thermal solar energy uses parabolic mirrors to collect sunlight and convert into heat to generate steam, which in turn operates turbines to produce electricity.

Tuesday, January 1, 2008

New Israeli agritech fund established

"Globes" reports that a new agritech fund, the Central Arava Fund, established with the support of Australian Jewish investors, will begin operating in April 2008. The new fund aims to establish agrotech and agrobiotech companies in the Arava region of the Negev. A second goal is to create high-tech job opportunities for residents of the Arava after their studies.

The Central Arava Fund expects to raise an initial $5-8 million, and raise an additional $40 million in the second stage. The bulk of the financing will come from Australian Jews. Arava residents and companies will be able to invest in the fund with minimum investments of $25,000.

Central Arava Fund's managers will be Eliezer Manor and Gil Lissai. Manor, a physicist, is a veteran venture capitalist, and founder of the Israel Venture Association. Lissai has experience in agriculture. He has worked with farms in both the Arava and in other countries and advised high-tech ventures and exporters.

The fund's mangers and investors discuss their plans in more detail in this YouTube video. The fund is apparently considering investing in biofuels and other alternative energy technologies related to agriculture.

Thursday, December 27, 2007

Australian fund considers Negev solar plant bid

Sources inform ''Globes'' that Babcock & Brown Capital Ltd. of Australia is considering participating in the tender to build a $600-700 million solar power station in the Negev. The tender is due to be published in 2008.

Babcock & Brown wants an Israeli energy company as a partner. The Australian investment company is the second international company expressing an interest in the tender; Spain's Abengoa Bioenergy SA has contacted the Ministry of National Infrastructures about it.

The 250-megawatt solar power station will be built at Ashalim in the central Negev under a BOT (build, operate, transfer) contract.

Babcock & Brown's portfolio already comprises thirteen operating power stations representing over 3,300MW of generation and a further 1,700MW under construction. The firm announced in June 2007 that it was opening an office in Israel to be headed by the former privatization chief Eyal Gabbai.

Wednesday, December 26, 2007

Israel plans 250-MW solar power plant

Israel recently announced plans for the construction of a 250 megawatt solar power plant in the Negev, which is estimated will cost $600-$700 million. When completed, it will be one of the largest solar power plants in the world.

"Globes" reports that the World Bank is considering financing the project.

According to Ha'aretz, the tender for building the plant will not give preference to local firms, meaning that foreign firms can participate in the tender without a local partner. The decision was made, among other things, to avoid the impression that the tender was written for the benefit of the only two Israeli companies who could compete for the power station: Solel and Luz II, a subsidiary of BrightSource Energy.

The cabinet hopes that this change will make the tender more attractive to international firms with experience in the solar energy industry, and that the new conditions will allow the setting of appropriate minimum requirements for professionalism and financial strength for the bidders on the project.

Minister of National Infrastructures Benjamin Ben-Eliezer recently announced that the first stage of the tender will likely be published next month.

The power plant, which will be located near Ashalim in the western Negev and produce 250 megawatts of electricity, will be Build-Operate-Transfer (BOT), similar to Route 6, the Trans-Israel Highway. The winning bidder builds the plant, operates it for the license period, and at the end of the franchise transfers full ownership to the state.

A number of foreign companies have already expressed interest in the project, including Spanish energy giant Abengoa. Abengoa created a U.S. subsidiary earlier this year, Solucar Power, Inc., to respond to utility requests for electricity using concentrating solar power (CSP) technologies.

The real remaining question is which technology will be required for the power station: solar thermal or photovoltaic. The solar thermal method harnesses the sun's energy to heat a material, such as oil or water, from which it is possible to generate electricity, while the photovoltaic system transforms solar energy directly into electricity.

However, it also appears that even if one of the possible two tenders requires a photovoltaic system, the total amount of electricity from such a plant will not be over 50 megawatts, out of the total of 250 megawatts.

Friday, December 14, 2007

Oasis Investment Fund -- new VC investing in the Negev

Gideon Soesman, Ronen Gadot and Lior Berger are the co-founders of the Oasis Investment Fund, a new venture capital firm with a social mission to develop the Negev and increase prosperity in the southern region of Israel.

Oasis intends to invest in 10-15 early-stage companies in the areas of solar energy, water technologies, smart desert agriculture, tourism, small real estate projects, and traditional industries. The firm is currently soliciting investors for a $30 million fund. The Canadian Jewish News recently detailed Oasis' successful fund-raising efforts in Toronto.

Gideon Soesman, the firm's managing director, previously served as a senior director for global M&A activities at Philips Electronics. Lior Berger, a director, was formerly a general partner at Gemini Israel Funds. Ronen Gadot, Oasis' other director -- a native of Arad and former F-16 fighter pilot -- was a director of business development at Philips Electronics and was recently executive vice president of SHL Telemedicine.