EZKlein Partners, a leading renewable energy advocate, announced the closing of a $5 million Series A funding round for AORA, an Israel-based developer of applied ultra-high temperature concentrating solar power (CSP).
The funding round, initiated by EZKlein Partners, includes L&Q Solar, a group of international solar energy investors. EZKlein Partners is an advocate for economic growth and job creation in the solar energy field.
AORA was previously called EDIG Solar. It plans to use the funds to commission the world’s first commercial hybrid solar thermal gas-turbine power station, expected to begin operations by the end of March in Kibbutz Samar in Israel’s Arava region, to develop manufacturing capabilities and market expansion, and to further its R&D efforts.
Yavne-based AORA will offer a tour of its facility to attendees of an upcoming renewable energy conference, the Eilat-Eilot International Renewable Energy Conference.
“We believe that AORA’s technology will be a ‘game-changer’ in the solar thermal energy sector as it will seize market share from the companies which propose to build giant, remotely located solar thermal power plants. It will inaugurate a new era of localized, de-centralized, community-based solar power stations available to serve customers with all-green energy at any time of the day or night,” said Shimon Klein, Managing Partner of EZKlein.
AORA's unique modular solar power station is designed to require a smaller footprint, while generating more usable power and heat at a lower cost than other solar energy systems. The company's hybrid approach enables the system to run on solar radiation input, as well as almost any alternative fuel, including biogas, biodiesel and natural gas. This enables a variety of operation modes from solar-only mode, where electricity is supplied when there is ample sunlight, to hybrid mode, where fuel helps generate electricity when sunlight is insufficient, such as at night or when it is cloudy, guaranteeing an uninterrupted green power supply 24 hours a day.
Published by Globes [online], Israel business news - www.globes-online.com - on February 5, 2009
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