Israeli clean-tech company AORA raises $5m. in series A roundIsraeli clean-tech company AORA has raised $5 million in a series A funding led by EZKlein Partners, a leading renewable energy advocate, and joined by L&Q Solar, an international group of solar energy investors.
AORA, formally EDIG Solar, has developed an applied ultra-high temperature concentrating solar power. The company 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. 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, 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. The company also plans to develop manufacturing capabilities and market expansion; and to further its R&D efforts.