HelioFocus Ltd., an Israel-based solar thermal systems start-up, has raised more than $10 million from China’s Zhejiang Sanhua Co. and existing investor IC Green Energy.
HelioFocus announced the investment last week at the Weizmann Institute of Science in Rehovot, Israel, where HelioFocus is developing its solar thermal technology to boost electricity production of existing power plants.
HelioFocus CEO Ory Zik said Sanhua, the Chinese maker of appliance components whose stock is traded on the Shenzhen stock exchange, would be not just a financial investor in the company, but will also produce some solar thermal components.