4RAE has already made its first investment.
Eyal Ofer and Marcel van Poecke are setting up a renewable energy fund in Luxembourg, to be called 4RAE. The company has already announced its first investment: $30 million in G24 Innovations Ltd., a Cardiff-based roll-to-roll solar cell maker.
4RAE said, "4RAE will take a seat on the G24i board and will be represented by former ABN Amro CEO and chairman Rijkman Groenink."
G24 commercially manufactures next generation dye-sensitized thin film solar cells, an alternative to traditional silicon solar cells. Since silicon is an expensive raw material, its use in solar panels and batteries greatly increases their cost.
Published by Globes [online], Israel business news - www.globes-online.com - on July 23, 2008
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