Globes reports that the latest investment of IC Green Energy Ltd. (ICG), the cleantech arm of Israel Corporation., 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.
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., and CEO Dr. Ory Zik.
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%.
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