IQwind and Guascor announce partnership agreement to commercialize innovative wind turbine technology

IQwind, an Israel-based start-up backed by Terra Venture Partners, and Guascor, a Spanish industrial company, announced today that they will partner to commercialize and bring to market the IQGear, a variable gearbox for the wind industry. The partnership brings together IQwind`s innovative wind turbine technology and the operational and market expertise of Guascor, an international leader in the production and distribution of renewable energy power systems.


Increasing the overall potential and cost-effectiveness of wind as an alternative renewable energy source, IQwind claims that its variable gear can be both retrofitted into existing turbines and utilized as a standard component in newly-manufactured turbines. The high efficiency IQwind technology can reduce the cost of energy (COE) by up to 20% compared to the best existing wind turbines, according to the company.

Guascor will manufacture the IQGear according to design and specifications provided by IQwind. To support the IQGear production, a new manufacturing line will be established in the Guascor Power facility in the Basque Country (Spain).

According to the agreement between the companies, the initial ten gearboxes manufactured by Guascor will be used for testing, certification, and initial commercial installations retrofitting currently-operational turbines during 2010. The companies will scale up to bring additional retrofitted and new turbines to the European market in 2011 and beyond. According to the agreement, IQwind will lead the sales, marketing and design activities and shall continue to own any resulting Intellectual Property (IP).

"The partnership with IQwind reinforces Guascor´s vision and its commitment to renewable energy," said Mr. Cesar Fernandez de Velasco, CEO of Guascor. "The IQwind variable gear is an important development in wind-powered energy generation. It addresses the long standing challenge of efficiently turning a variable wind source into stable electrical current, and can make an immediate impact on the economics of wind projects. Guascor is delighted to lend its
manufacturing muscle and the operational experience of its executives to advance the establishment of IQGear as the leading gear design in the wind energy market. We look forward to rolling this exciting technology out to the market as early as 2010."

"Guascor brings manufacturing and wind expertise, more than 50 years of leadership in the power system industry, and a unique renewable energy strategy. These attributes make the company an ideal partner for IQwind in bringing this unique technology for improving power generation efficiency to the wind energy market," said IQwind founder and CEO Gideon Ziegelman.

"Partnering with a prominent player such as Guascor is a resounding validation of the value our variable gear technology brings to the wind energy market," added Ziegelman. "The cooperation with Guascor and the significant investment they have committed to in this agreement will greatly accelerate the introduction of IQGear into the wind energy market. This collaboration is a major step towards the transformation of this new technology into a revenue
generating product."

Guascor is currently planning to build a large wind farm in Argentina. The $2.4 billion, 600-900MW project will be located in Pico Truncado and is expected to take three years to complete.

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IQWind raises $500k from U.S. investors

IQwind, an Israel-based start-up developing variable gear technology that improves the energy generation efficiency of wind turbines, has raised $500,000 from ISRAEL G-TEK LLC, according to an announcement by the U.S.-based investors.

IQwind received a first round of investment from Terra Venture Partners in 2007.

Sami Shiro and Uri Benhamron, principals at Israel G-Tek, explain that the investment in IQWind is part of their "plan to create a balanced portfolio of greentech companies with a special focus on Israel as a breeding ground for technology."

IQWind’s product has the ability to function as a replacement part for existing turbines, as well as a main component for new turbines. The technology is so disruptive, according to ISRAEL G-TEK, that further applications are also being considered in other markets such as automotive and mining.

Israel G-Tek's investment in IQWind is part of a financing round to implement a full scale pilot for the Israeli company.

Gideon Ziegelman is the co-founder and CEO of IQWind, and Nimrod Eitan is the company's co-founder and CTO.

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SOVNA developing urban wind farms, releases video of pilot project

SOVNA, a Tel Aviv-based startup that installs vertical micro wind turbines atop high-rise buildings, is currently featured on Israel21c.

Erez Ella, a noted Israeli architect whose projects include the Museum Plaza in Louisville, Kentucky, is one of Sovna's co-founders and participated in the CICC Cleantech Tour of Silicon Valley in 2008. Previously called ALT E, SOVNA was also featured in Ha'aretz last year.

Below is a short video that includes images from SOVNA's pilot project atop an Israeli skyscraper and commentary from the founding team of Guy Shahar (CEO), Erez Ella (CTO) and Danny Cohen.



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Variable Wind raises $2.5m from Quercus Trust, 21Ventures and AquAgro Fund

Variable Wind Solutions, a Tel-Aviv, Israel-based startup developing products to improve the efficiency of wind turbines, has raised $2.5m in its latest round of financing.

A report in Globes identifies 21Ventures as the lead investor, joined by AquAgro Fund and Brooks Keret Group. 21Ventures' web site, however, names Quercus Trust as the lead investor in Variable Wind.

Quercus Trust, funded by multimillionaire David Gelbaum, has quietly become one of the most active investors in the global cleantech industry. According to Greentech Media, David Gelbaum and Quercus Trust have made at least 47 cleantech investments. Five of Gelbaum's cleantech investments, in cooperation with 21Ventures, are in Israeli startups: 3GSolar, BioPetroClean, ETV Motors, TechnoSpin Wind, and Variable Wind.

Variable Wind is led by CEO Ian Kaplan, COO Gil Ziv, and CTO Dror Nadam.

Information about Variable Wind's products for small wind turbines, large wind turbines, and urban wind farms is available on the company's web site.

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IQwind a Red Herring Top 100 Global Company

IQwind, an Israel-based developer of variable gear technology that improves the energy generation efficiency of wind turbines, announced that it has been recognized by Red Herring as one of the Top 100 Global Companies.

IQwind co-founder and CEO Gideon Ziegelman said, "We are thrilled to have been selected to the distinguished Red Herring Top 100 Global list. We are introducing a disruptive gear technology into the wind energy market in order to improve the efficiency of both old and new wind turbines. We will begin retrofitting existing turbines by next year and look forward to becoming a key contributor to the enablement of more efficient production of renewable wind energy."

IQwind received a first round of investment from Terra Venture Partners in 2007.

"We were so pleased to announce IQwind as a Red Herring Top 100 Global Company," commented Red Herring publisher Alex Vieux. "IQwind has proven to be a company excelling in their industry and its ripples have turned into waves. It was difficult for us to narrow down, but we are pleased to have included IQwind in our list of promising companies. We look forward to the changes it will make to its industry in the future."

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Israel sets feed-in tariff for wind power

The Public Utilities Authority (Electricity) has announced the details of a feed-in tariff for small wind turbines, similar to the solar photovoltaic feed-in tariff established in 2008. Consumers will now be able to generate their own electricity using wind turbines and sell the surplus back to the national grid.

The maximum output of a domestic wind turbine will be set at 15 kilowatts, and the maximum output of a commercial and industrial user's wind turbines will be set at 50 kilowatts.

The Public Utilities Authority has established two rates for wind-generated electricity: NIS 1.60 per kilowatt/hour for small turbines up to 10 kilowatts of output, and NIS 1.25 per kilowatt/hour for small turbines of 10-50 kilowatts of output. These rates will be reduced by 2% a year.

The Public Utilities Authority set two rates for wind-generated electricity: NIS 1.60 (~$0.40) per kilowatt/hour for small turbines up to 10 kilowatts of output, and NIS 1.25 (~$0.30) per kilowatt/hour for small turbines of 10-50 kilowatts of output. These rates will be reduced by 2% a year. The total quota is 30 megawatts through 2016.

By comparison, the solar PV feed-in tariff is NIS 2.01 per kilowatt/hour with a quota of 50 megawatts through 2015.

This is good news for companies like SOVNA (formerly ALT E), which is currently setting up "urban wind farms" in Tel Aviv. It may also provide a domestic market for innovative small wind turbine companies such as Technospin, Coriolis Wind, Leviathan Energy, and Variable Wind Solutions.

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Afcon and IEC to partner on Galilee wind project

Afcon E.B. Wind Energy Ltd., a subsidiary of Afcon Industries, is in talks to partner with Israel Electric Corporation (IEC) on a $70 million project for installing wind turbines in the Lower Galilee.

As part of the collaboration, IEC has already started the process of obtaining statutory permits for the wind turbine farm, according to a report in Globes.

The wind turbine farm will be set up in Ramat Sirin and the Gilboa mountain ridge, with an output estimated at 40-50 megawatts. The National Planning and Building Board approved the construction of wind turbines in this region in 2003. IEC had previously planned to construct the turbine farm on its own, but after its board refused to finance the project, because of its high cost, the plan was dropped.

Afcon Wind Energy General Manager Dr. Eli Ben Dov was formerly deputy manager of IEC's planning and development division.

Afcon has already reached agreements in principle with the kibbutzim in the area, including Ma'aleh Gilboa, Beit Zera, and Degania, on constructing wind turbines on their land. In the next few months it will apply to the Public Utilities Authority (Electricity) for a conditional license to set up the farm.

Afcon declined to comment on the report. IEC said in response, "The company is doing all in its power to assist the promotion of green energy, and helps private producers in every possible way. The company is a subcontractor to Afcon Wind Energy, and is contributing towards advancing these important projects. The company is prevented from divulging details of commercial agreements with its customers."

Afcon Industries, one of Israel's leading industrial enterprises, is controlled by Shlomo Shmeltzer and traded on the Tel Aviv Stock Exchange. Motorola owns 9% of the group.

Defense Ministry opposes wind turbines in the Golan Heights

In related news, Globes reports that the Defense Ministry is opposed to the contruction of additional wind turbines in the Golan Heights. If true, this would be a blow to Mei Golan Wind's plans to construct a $600m wind turbine project in the Golan in partnership with U.S.-based AES.

US energy co AES negotiating with Israeli biofuel and wind companies

AES Corporation, a $10 billion global power company listed on the New York Stock Exchange, reportedly is pursuing contacts for expanding its activity in Israel. Sources inform ''Globes'' that the company is in negotiations to invest NIS 25-27 million ($8 million) in Israeli alternative energy company GNRY Ltd..

GNRY produces electricity from steam generated by burners, which use wood chips as fuel. The company set up its first facility in Israel at the Galam factory at Kibbutz Maanit at an estimated investment of $7 million.

For more about GNRY, check out these articles on Green Prophet and Ynet News.

Earlier this month, "Globes" reported that the company may also become a partner in a 400-megawatt wind energy project to be built by Mei Golan Wind Energy Development Ltd. on the Golan Heights.

"A Renewable Light Unto the Nations"

Yossi Abramowitz, President of the Arava Power Company, just published a new essay entitled "A Renewable Light Unto the Nations". I highly recommend reading it.

Abramowitz calls for Israel to set a goal of generating 40% of its electricity from renewable sources by 2020, and thus "capture the imagination of youth, entrepreneurs, scientists, philanthropists, and financiers." He also suggests the creation of a "World Jewish Action Plan" to offer "Jews and Jewish institutions worldwide carbon offset opportunities" in Israel.

In practice, this would involve "every synagogue, JCC, school, and institution" calculating its carbon footprint, and then putting solar panels on its own roof and investing in Israeli renewable science centers or companies.

I hope that groups like the newly established "Boston Israel Cleantech Alliance" and the California Israel Chamber of Commerce's "Cleantech Initiative" can play a leading role in putting renewable energy on the Jewish community's agenda and promoting connections between cleantech investors and entrepreneurs in the United States and Israel.

In related news, Israel's Public Utilities Authority approved a plan Monday to buy electricity, at NIS 2.01 per kilowatt, from individuals and companies who install a photovoltaic (PV) solar panel system on their roofs. Israel thus joins a growing list of countries, including Germany, the US, Japan and Spain, that have approved such solar "feed-in tariffs".

"Ex-VC" Tali Aben explains the economics of the feed-in tariff, observing that those who install solar PV systems are now set to reap a 14% internal rate of return on their investment over a 20 year period.

According to the Jerusalem Post, National Infrastructures Minister Binyamin Ben-Eliezer called on the Authority to draft similar tariffs for household wind energy, which would be good news for Israeli companies like TechnoSpin, Coriolis Wind, and ALT-E.

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Visit to TechnoSpin Wind R&D facility

Earlier today I had an opportunity to visit the TechnoSpin R&D facility in Netanya. Natalie Barlev, VP of Business Development, and Daniel Men, CTO, were nice enough to speak with me about the company's wind turbine technology and plans for commercialization.

They also took me up on the roof for a first-hand look at one of TechnoSpin's wind turbines, the PowerSpin TSB3, which has a rotor diameter of 3 meters.



TechnoSpin develops and manufactures small wind turbines for use in residential, small business, and maritime settings. The turbines also have applications for agriculture and irrigation. Natalie tells me that the company hopes to begin selling its wind turbines in the next couple months and is now in talks with potential distributors and customers around the world.

In April, TechnoSpin announced that it had raised $8 million in funding from the U.S. venture capital firm 21 Ventures.

A public demonstration of the company's technology might take place in the near future, and I encourage you to contact the company if you want to learn more.

Natalie Barlev and Maxim Rakov, TechnoSpin's CEO, are also regular participants in the Cleantech Israel meetup group.

ALT E to develop urban wind farms in Israel

ALT E, a startup developing and installing "urban wind farms", was recently featured in Ha'aretz.

According to the company's founders, architect Erez Ella and economist Guy Shahar, ALT E will soon install an experimental rooftop wind turbine project in an undisclosed Tel Aviv high rise building. The company is reportedly in contact with several Israeli real estate developers and also hopes to export the idea to other countries.

"We take something that in any case the developer has to build, which is the roof floor, where there is a fence or wall that is used among other things to conceal machinery and also as a safety measure," explains Shahar. "Instead of building a regular wall, he can created a kind of wall of turbines, and also save money by reducing spending on electricity in the building."

"This is primarily for buildings that are 20 stories or higher and have good wind conditions," says Ella. "The use of wind will be only one component of a variety of alternative solutions that will also include the use of solar energy."

Other Israeli companies in the rooftop wind market include Coriolis Wind, a portfolio company of Precede Technologies, and TechnoSpin Wind, which recently raised $8 million in a Series A financing round led by NY-based 21 Ventures.

For more information on the global "small wind" power market, check out this series of articles from Greentech Media.

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Leviathan Energy to provide clean electricity for India

I just received the following news from Leviathan Energy.

Leviathan Energy Ltd., based in Israel, and Maple Leaf India PVT have signed a letter of intent for a $50 million-plus contract to provide clean electricity for India. The two companies met during a recent India-Israel renewable energy summit organized by Israel’s MATIMOP and India’s GITA for the promotion of science and industry.

The letter of intent covers three points: (1) Leviathan Energy will provide aerodynamic improvement technology for the development of Maple Leaf’s 450 MW wind farm in Kerala, India. The wind farm itself will provide over 900,000 homes with electricity and prevent the emissions of 450,000 tonnes of carbon dioxide from entering the environment. (2) The parties will cooperate on development and implementation of Leviathan’s ocean wave energy technology in the Indian Ocean. (3) The parties will partner to manufacture Leviathan’s Wind Energizer for local use in India.

Raul Goldemann of MATIMOP, director of the India-Israel program, said, “We had a successful trip to India, and found tremendous interest in Israel technology.”

Maple Leaf India PVT is a subsidiary of Maple Leaf Canada, with interests in the fields of energy, communications, lumber and real estate.

Leviathan Energy is a startup company with inventions in large and small wind, wave, tidal, and hydroelectric energy. It is operating an experimental wind park in Rotem Industrial Park in Dimona, and is initiating projects for its hydroelectric and wind turbines. For further information about Leviathan Energy and investment opportunities, contact Emmalee Mandel at emandel@leviathanenergy.com

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.

IAI to enter wind and solar power sectors

Sources inform ''Globes'' that the board of Israel Aerospace Industries Ltd. (IAI) has approved the company's entry into the wind and solar energy sectors. The company plans to exploit its turbine technology, wind tunnels, and aerodynamics engineering know-how to improve the turbines now on the market.

One of the most important facilities of IAI's engineering division is its wind tunnel, used to test models of planes and the operation of high-powered engines. The results of the aerodynamic tests of the models are then compared with the flight tests. The facility and know-how will now be used for renewable energy projects.

Israeli companies already active in the wind power sector include Elspec, IQWind, and Coriolis Wind.

Granite Hacarmel to invest in Indian renewable energy projects

Granite Hacarmel Investments Ltd. has signed an memorandum of understanding (MOU) to participate in the setting up of a company that will invest in renewable energy projects in India. Granite Hacarmel will provide $6 million of the venture's initial investment of at least $20 million.

Granite Hacarmel CEO Ami Sagis told "Globes", "We decided to build on the company's strengths in areas complementary to our regular business, including energy and especially renewable energy. We've accumulated extensive experience in the water and energy industries in Israel."

Sagis added, "In India, there is a severe shortfall between energy needs and energy supply, which creates a great opportunity to enter this market, while utilizing Granite Harcarmel's capabilities."

Granite Hacarmel's cleantech business is carried out through subsidiary GES Global Environmental Solutions Ltd., which focuses on water technologies. GES is a partner in the Palmachim seawater desalination facility. Last week, it was reported that GES planned to increase its holding in UniqKleen Technologies Ltd., a start-up developing technologies for treating industrial effluent with magnets.

According to Sagis, "We'll invest in all renewable energy sectors, from cogeneration, wind farms, and pumped storage hydroelectric power. We think that expanding our holding in this field is the right thing to do worldwide, and in India in particular."

Pacific Islands delegation visits Israel to learn about renewable energy, water technologies

Pacific Magazine reports that American Samoa Congressman Faleomavaega has just returned from Israel where he and other Pacific Island representatives discussed ways to advance their relationship.

“Given that Israel is known for its technological advancements in wind, water, and solar energy, and that Israel has also made important advancements in the desalinization process which is critical to Pacific Island nations that may face serious water shortages, we felt that an educational program and exchange would be a first step in developing a partnership for the future,” Faleomavaega says.

Participants included Ambassador Masao Nakayama, Federated States of Micronesia; Ambassador Fekitamoeloa Utoikamanu of Tonga; Ambassador Mason Smith, Fiji; Ambassador Rina Tareo, Republic of the Marshall Islands; Ambassador Marlene Moses, Republic of Nauru; Ambassador Stuart Beck of Palau; and Ms. Evelyn Beck, Counselor, UN Mission, Republic of Vanuatu, and Ambassador Aliíioaiga Feturi Elisaia of Samoa.

“In addition to renewable energy advancements, Israel has also made considerable advancements in aquaculture and our delegation was able to visit a 1200 acre aquaculture fish farm the Israeli government has developed to grow ornamental fish, and also fish for consumption. As I have said before, the ornamental marine aquaculture industry is estimated to be at $6 billion. On the consumption side, the U.S. imports more than $10 billion in seafood making fish farming a viable means for economic development in American Samoa and among our Pacific Island nations.”

Terra VP raises $15 million, makes first investments

Terra Venture Partners, a venture capital fund focused on seed and early-stage cleantech companies in Israel, has reportedly raised $15 million and made its first two investments.

The fund completed a seed-stage investment in IQWind Ltd., a company that is developing an innovative gearbox that will improve the efficiency of wind turbines. Terra has also invested in Phoebus Energy Ltd., which is developing a system to decrease water heating expenses for large facilities, such as hospitals, hotels, pools, etc. Both IQWind and Phoebus were founded in August, 2007.

Terra Venture Partners was founded in May 2006 by Harold Wiener, an immigrant from Uruguay, and Astorre Modena, an immigrant from Italy. They hope to ultimately raise $50 million and invest in up to 20 companies.