Maccabi Netanya owner sets up cleantech fund

Daniel Jammer held talks with Better Place and IC Green Energy about future cooperation with his €250 million fund.

Daniel Jammer, Maccabi Netanya soccer club owner, has told "Globes" that he has set up a €250 million fund to invest in cleantech.

Jammer today attended the Eilat-Eilot International Renewable Energy Conference and Exhibition. He said that the new fund will focus on three areas of activity: developing batteries for the electric vehicles industry; producing jet fuel from biodiesel; and wind and solar energy.

Jammer said, "I have already held one meeting with Better Place and I recently met with Yom Tov Samia, the CEO of IC Green Energy, Israel Corporation's renewable energy company. I hope that we will be able to cooperate in the future."

Jammer said that the new fund's investors include the German insurance company Allianz (NYSE: AZ) and Migdal Insurance and Financial Holdings Ltd. (TASE:MGDL).

Jammer said that the entire sum of money had been raised and the fund is already examining its first investments. Talking about the solar energy sector Jammer said, "There are two or three companies that are very interesting for us. We have not yet decided whether to join them as strategic partners or financial investors."

Jammer, a German Jewish businessman, owns real estate holding companies in the US and Germany. He bought Maccabi Netanya three years ago and claims to have invested $20 million in the club, which loses $6-7 million a year.

Published by Globes [online], Israel business news - - on February 18, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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