BGU to Invest in Cleantech Ventures
June 16, 2008
NEW YORK, NY – January 28, 2008 – Ben-Gurion University of the Negev (BGU) is investing in Israel Cleantech Ventures, Israel’s first clean technology-focused venture capital fund.
Advancement in research on environmental issues such as water and alternative energy technology is one of the main objectives of BGU’s research programs,” explains BGU President Prof. Rivka Carmi. “The collaboration will solidify BGU’s leadership in environment, water and energy technologies, as well foster partnerships with other leading institutions.”
The Fund will work with BGU and its commercial technology transfer company B.G. N. Technologies to commercialize new technologies and inventions in the environmental field.
“BGU has been advancing green technology and science for nearly 40 years, long before it became fashionable,” explains Doron Krakow, executive vice president of American Associates, Ben-Gurion University of the Negev. “This new venture is the natural next step in the University’s efforts to enhance and share their expertise for a greener world.”
“We are very impressed with the University’s researchers who are developing innovative technologies at the cutting edge of the fields of water and energy,” said Jack Levy, one of the partners at Israel Cleantech Ventures. “We believe that cooperation with Ben-Gurion University will contribute to a wide range of activities of Israel Cleantech Ventures and its portfolio companies.”
Israel Cleantech Ventures, managed by Glen Schwaber, Jack Levy and Meir Ukeles, was established in 2006 to provide value added growth capital to exceptional entrepreneurs and their companies. The Fund has raised $50 million and invested in seven companies.
About Israel Cleantech Ventures: Israel Cleantech Ventures was established in 2006 to provide value added growth capital to exceptional entrepreneurs, building Israel’s energy, water and environmental technology leaders. ICV’s investment professionals combine industry expertise gained through decades in senior management positions at Israel’s outstanding cleantech companies, with proven abilities in identifying, investing in and supporting VC-backed companies. www.israelcleantech.com
About American Associates, Ben-Gurion University of the Negev
American Associates, Ben-Gurion University of the Negev (AABGU) plays a vital role in sustaining David Ben-Gurion’s vision: creating a world-class institution of education and research in the Israeli desert, nurturing the Negev community and sharing the University’s expertise locally and around the globe. As Ben-Gurion University of the Negev (BGU) celebrates its 50th birthday this year, AABGU imagines a future that goes beyond the walls of academia. It is a future where BGU invents a new world and inspires a vision for a stronger Israel and its next generation of leaders. Together with supporters, AABGU will help the University foster excellence in teaching, research and outreach to the communities of the Negev for the next 50 years and beyond.
A. Lavin Communications