IC Green Energy invests in HelioFocus
 
The Israel Corporation's subsidiary IC Green Energy (ICG) has invested in HelioFocus Ltd.
 
Headquartered in Ness Ziona, Israel, HelioFocus is engaged in the development of modular, high efficiency CSP systems.
 
While a couple of media reports reported about this development, the investment figures varied from $5 million to $10 million.
 
ICG is primarily focusing on renewable energy sources, such as biofuel (biodiesel & ethanol), solar energy and the production of Biofuel and energy from biomass. It is seeking opportunities in both developed and developing nations, pursuing strategic alliances including potential mergers and acquisitions. 
 
Towards the end of July, Capstone Turbine Corporation had received an order from HelioFocus for the development and modification of Capstone Turbine's C65 MicroTurbine to operate on solar energy.
 
At the time of this deal, Dr. Ory Zik, one of the Founders and CEO, HelioFocus had said: "Our company's  current focus is continued product development through strategic partnerships with forward looking companies. Utilising Capstone's microturbine, our mutual goal is to develop a system that can operate entirely on sunlight."
 
Under the initial phase of development, Capstone will make modifications to the existing microturbine to operate on superheated air and integrate the microturbine with the HelioFocus solar concentrator system.