Sunday, March 8, 2009

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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