Solar energy co Luz II changes name

The new name is a familiar one, and shows the attachment to its parent firm.

Solar energy company Luz II is changing its name to BrightSource Industries (Israel).

US firm BrightSource Energy is the parent company of Luz II. Luz II itself is essentially a reincarnation of an earlier solar energy firm, Luz, a leading global solar energy company in the 1980s. Luz went bankrupt in1991, and formally started up again in 2004. Major activity of the firm began in 2006, with most of its key staff joining in 2007.

Luz founder Arnold Goldman is the founder and chairman of BrightSource Energy.

BrightSource Industries (Israel) is based in Jerusalem. It develops, designs, and sets up solar power plants around the world.

Luz II president Israel Kroizer, who is also COO of the parent company, BrightSource Energy, said, "Because of the company's attachment to its American parent company BrightSource, it was important for us to keep the name and operate with a recognized name. The Luz tradition will stay on in the name of our product and technology, Luz Power Tower."

BrightSource Energy has signed power purchase agreements with PG&E in California, and has been in talks to bring its technology to Arizona, as well. It also established a pilot solar energy facility in Dimona.

Published by Globes [online], Israel business news - www.globes-online.com - on December 16, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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