EnStorage raises $2m from Greylock, Canaan and Siemens Venture Capital

Sources inform ''Globes'' that Israeli cleantech start-up EnStorage Ltd. has completed a $2 million financing round from Greylock Partners, Canaan Partners of the US, and Siemens TTB This is Greylock and Canaan Partners' first investment in an Israeli cleantech company.

EnStorage CEO Eran Yarkoni, CTO Prof. Emanuel Peled, and VP R&D Dr. Arnon Blum founded the company a year ago. The company is based on Peled's research and is operating in stealth mode.

According to IVC Online, EnStorage is developing a low-cost regenerative fuel cell energy-storage-system (ESS) for power grid load leveling and for capacity firming of solar and wind power generation plants. The company claims that its ESS is smaller, more efficient and lower-cost than other energy storage systems.

According to the U.S. Department of Energy, regenerative fuel cells produce electricity from hydrogen and oxygen and generate heat and water as byproducts, just like other fuel cells. However, regenerative fuel cell systems can also use electricity from solar power or some other source to divide the excess water into oxygen and hydrogen fuel—this process is called "electrolysis." This is a comparatively young fuel cell technology being developed by NASA and others.

Advanced Desalination Technologies raises $4 million from AquAgro Fund

AquAgro Fund, a cleantech venture capital fund affiliated with Gaon Agro Industries Ltd., has made its first investment. Sources inform ''Globes'' that it is investing $4 million in Advanced Desalination Technologies Ltd.

Advanced Desalination Technologies -- now renamed Desalitech --has reportedly completed a pilot at a municipal facility. Desalination and improving wells are two fields where every saving is essential, and the company's reverse osmosis technology is designed to greatly improve the efficiency of desalination.

AquAgro managing partner Nir Belzer declined to comment on financial matters, but confirmed that an investment had been made. He added that a major international fund was considering investing in Advanced Desalination Technologies. He said that the investment in the company was in line with the fund's policy of investing in companies with proven technologies undergoing pilot programs prior to commercialization.

Advanced Desalination Technologies is a family firm founded by Prof. Avi Efrati, and his son, Nadav Efrati, who will shortly take over as CEO. The company employs subcontractors, and raised $2 million prior to AquAgro's investment. The company has no website.

AquAgro invests in late-stage cleantech ventures. Its founder and chairman, Benjamin Gaon, is the chairman of Gaon Agro and its parent company, B. Gaon Holdings Ltd.. The fund has raised $40 million, and plans to close on $100 million by the end of 2008.

Ben-Eliezer calls for increased desalination

"Globes" reports that at its weekly meeting, the cabinet reviewed the option of increasing water production at desalination plants at Ashkelon, Hadera, and Palmachim. Last year, the government increased the planned quantity of desalinated water to 500 million cubic meters a year, and ordered the building of two plants, one to be operated by the Shafdan: Dan Region Sewage Reclamation Project in Rishon LeZion, and another plant to be operated by Mekorot National Water Company in Ashdod.

Minister of National Infrastructures Benjamin Ben-Eliezer presented an action plan to address the water crisis in Israel, in the light of the lack of rainfall so far this winter. His plan calls for, among other things, the imposing of restrictions on the watering of public and private parks; a further cut in fresh water quotas for agriculture, and an intensive PR campaign to encourage people to save water.

According to Ben-Eliezer, these moves will not suffice on their own. "The action needed now is to step up the planned building and expansion of desalination facilities," he said. "We're in a difficult situation."

Thailand seeks Israeli water technologies

"Globes" reports that a delegation of senior Bangkok municipal officials will visit Israel this week as guests of the Ministry of Industry, Trade and Labor. The delegation is seeking ways to cooperate with Israeli water technology and sewage treatment solutions companies.

The current trip follows the visit by a Thai delegation to the International Water Technologies and Environmental Control Exhibition and Conference - Watec 2007 in Tel Aviv last November. The present delegation will visit companies with technologies and systems that can be utilized by the Bangkok municipal water system.

Israel's commercial attache to Thailand Etty Levy said, "Thailand in general, and Bangkok in particular, suffers from severe water problems because of a lack of water management tools. The Thais admire Israel's achievements in water technology and talk about the country as a 'green desert' thanks to its drip irrigation and other technologies."

Levy added that the Bangkok municipality had recently published tenders for the construction of water treatment facilities worth an aggregate $600 million.

The Bangkok delegation will visit Amiad Filtration Systems Ltd., Tahal Group, Global Environmental Solutions Ltd. (GES) and other companies.

Israel Cleantech buys 11% of AqWise

"Globes" reports that Israel Cleantech Ventures has acquired an 11% stake in sewage treatment solutions developer AqWise - Wise Water Technologies Ltd. from its founders, Ronen Shechter and Eytan Levy, in a secondary transaction in a deal that valued the company at $10 million.

AqWise CEO Elad Frenkel said, "This investment means that three institutional investors now stand behind the company: AHMSA, Elron, and Israel Cleantech." Mexican mining conglomerate Altos Hornos de Mexico SA de CV, owns 55% of AqWise, Elron Electronic Industries Ltd. owns 34%, and Israel Cleantech now owns 11%.

Globes says that this will not be Israel Cleantech's final investment in AqWise, which is in the late stages of an internal financial financing round amounting to a few million dollars from its current investors. The company is also close to signing contracts worth several million dollars with customers in Israel, Europe, the US, and Latin America.

"Globes": Do you plan to raise capital from external sources?

Frenkel: "Elron is a strategic investor, not merely a financial one. Israel Cleantech and AHMSA are also both strategic investors. That's why we don’t need outside money right now. They want to stand behind the company and make it succeed."

AqWise was founded in 2000. It specializes in the upgrading of wastewater treatment plants through the Attached Growth Airlift Reactor (AGAR) process, a method for biologically increasing water treatment capacity using biofilm carriers. The company posted a fourth quarter loss after posting profits in the preceding quarters, but the company has installed dozens of commercial units around the world, and its global target market is estimated at more than a $1 billion a year, and it is growing.

In 2007, AqWise was named in "The Cleantech Revolution" as one of the top 10 companies to watch in the field of water filtration

Ronen Shechter and Eytan Levy recently founded a new microbial fuel cell company, EMEFCY Bioenergy Systems, which will focus on the production of electricity and fuel from heavy duty industrial waste. Levy is also a venture partner at Israel Cleantech Ventures.

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.

Israel Cleantech Ventures invests in CellEra, fuel cell start-up

Sources inform ''Globes'' that Israel Cleantech Ventures has invested in fuel cell start-up CellEra.

CellEra CEO Ziv Gottesfeld and VP R&D Dario Dekel founded the company in 2007. It is developing a disruptive technology promising to turn fuel-cell power sources into a mass-market commercial reality. According to IVC Online, CellEra has five employees and hopes to increase the financing round.

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.

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