TalB

Globes [online] – business and technology news from Israel
Israel Corp unit invests $10m in solar power co HelioFocus

Work on the company's development - the next generation of thermo-solar technology - began in 1990.

Merav Ankori 27 Aug 08 19:23

IC Green Energy Ltd. (ICG), the cleantech arm of Israel Corporation. (TASE: ILCO), which is headed by Maj.Gen. (Res) Yom-Tov Samia, prefers to avoid the spotlight, and does not willingly disclose much information about its activity. Its latest investment is in a company called HelioFocus, which is developing thermo-solar technology. ICG reportedly contributed $10 million out of the $20 million the company raised in its latest financing round.

"We wanted to go for something that has potential," Samia told "Globes." He refused to say how much ICG invested, but noted that the technology is designed to convert sunlight to energy more efficiently, and at a lower cost, than the technology

According to IVC Online data, HelioFocus, which employs 20 people, is developing a technology for use in parabolic mirrors that concentrate sunrays for use in powering electricity turbines. The company was established on the basis of know-how developed by a group of scientists headed by Prof. Jacob Karni - currently on unpaid leave from the Weizmann Institute of Science. The company was co-founded by Prof. Sasson (Sass) Somekh, who held a number of senior management roles at Applied Materials Inc. (Nasdaq: AMAT), and CEO Dr. Ory Zik. According to Prof. Karni, the idea was first conceived at the Weizmann Institute in 1990. Because of this, the company could hardly be described as a start-up, although Samia describes the stage it is currently at as the "preliminary development stage."

According to IVC Online, Somekh contributed part of the latest investment, through Musea, a fund he controls, and Karni adds that ICG has acquired a controlling share of around 50%, investing "a lot more than Musea"

Published by Globes [online], Israel business news - Globes [online] – business and technology news from Israel - on August 27, 2008

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

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TalB

Globes [online] – business and technology news from Israel
Negev farm sets up first solar facility

Two thirds of the electricity generated by the system will be sold to the IEC.

Dalia Tal 27 Aug 08 11:00

A farm in the Negev has established the first 50 Kilowatt solar energy system in Israel.

Orit and Moshe Tenne, of Tenne Farm in Ramat Hanegev, built the system in stages. A 6 kilowatt facility was set up two years ago, before the Public Utilities Authority (Electricity) published its regulations on the subject.

A few months ago, the Tennes set up a roof-top apparatus to generate 34 kilowatts of power, and recently added another 10 kilowatt ground-level system that tracks the sun throughout the day.

The system also includes a wind turbine generating 2 kilowatts which is still being set up.

The overall cost of the system is estimated to be NIS 1.5 million. The farm will use about a third of the electricity generated, and two thirds will be sold to the Israel Electric Corporation (IEC) at rates established by the Public Utilities Authority (Electricity).

The system at Tenne farm is viewed as validation that it is possible to set up solar power systems on agricultural facilities.

Published by Globes [online], Israel business news - Globes [online] – business and technology news from Israel - on August 27, 2008

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

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I have respected your views, so I expect you to do the same for me.

TalB

Globes [online] – business and technology news from Israel
Monsanto invests in Israeli plant biotech co Evogene

The deal values Evogene at 3.5 times its market cap.

Gali Weinreb 28 Aug 08 10:55

International seeds company Monsanto (NYSE: MON) is to invest a total of $65 million in Israeli company Evogene (TASE: EVGN) in stages. Evogene has developed technology for discovering and developing genes for the improvement of plant traits.

Initially, Monsanto will invest $18 million for 13.5% of Evogene. This implies a company value of $133 million for Evogene, 3.5 times its market cap at the close of trading yesterday. Monsanto has an option to buy shares for another $12 million, at a higher value, if Evogene meets certain commitments.

In addition, Evogene will receive some $35 million as an advance payment and in annual research payments for carrying out research for Monsanto. It will also be entitled to milestone payments, and to royalties if the product reaches the market.

The investment is part of a five-year agreement for collaboration on identifying genes that affect a plant's yield, its ability to withstand harsh environments, and its use of fertilizers.

Evogene will provide Monsanto with genes it identifies that can improve the properties of seeds. The genes will be tested by the two companies jointly in model plants, and if they are found to lead to improvement, Monsanto will incorporate them in the seeds it sells. Monsanto will receive an exclusive license on these genes for several crop plants, among them maize, soy, canola, and cotton.

Evogene shares are currently up 35% on the Tel Aviv Stock Exchange, at NIS 8.36.

Published by Globes [online], Israel business news - גלובס עיתון העסקי� של ישר�ל - עמוד הבית - on August 28, 2008

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TalB

Globes [online] – business and technology news from Israel
Israel Corp unit invests in biodiesel co

Petrotec trades on the Frankfurt Stock Exchange

Merav Ankori 1 Sep 08 18:14

Israel Corp. (TASE: ILCO) subsidiary IC Green Energy Ltd. (ICG) has acquired 43% of German biodiesel company Petrotec AG (XETRA: PT8) from Warburg Pincus at €2.70 per share, reflecting a company value of €28.3 million.

ICG is also set to make a public offer to purchase the public's shares in Petrotec, which rose 22% in response to the announcement to €2.80. The acquisition is relatively cheap for Israel Corp., given that Petrotec went public two years ago at €17 per share, only to see its share tumble.

Petrotec produces biodiesel from used cooking oil, and therefore does not compete for food crops. The company has two plants in Germany which produce 185,000 tons of biodiesel a year. The company collects used cooking oil for recycling in Europe and the US.

ICG CEO Yom Tov Semia said, "The acquisition of Petrotec is ICG's first investment in the European market as part of our strategy to deepen its activity in the value chain in the biofuels market."

Semia recently told "Globes" that ICG was mainly interested in solar energy, and mid-generation and next-generation biofuels, which do not compete against food crops. "We're examining both Israeli and foreign firms," he said.

Last week, ICG acquired the controlling interest, reportedly about 60%, of Israeli thermoenergy systems developer start-up HelioFocus Ltd.

Published by Globes [online], Israel business news - Globes [online] – business and technology news from Israel - on September 1, 2008

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

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I have respected your views, so I expect you to do the same for me.

Livni

I read about the studues at Evogene, really interesting things
people like me still see this as almost science fiction.
still like many the long term effects that these crops could have is something with a big question mark.

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