Aora, an Israel-based developer of high-temperature, concentrating solar power (CSP), closed a $5 million Series A funding round led by EZKlein Partners and L&Q Solar, a group of international solar energy investors.
Aora, formerly known as EDIG Solar, will use the funds to commission a 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 said it will be the first such commercial project.
Funds will also be used to develop manufacturing capabilities and market expansion and to further R&D efforts.
"We believe that Aora's technology will be a ‘game-changer' in the solar thermal energy sector as it will seize market share from the companies which propose to build giant, remotely located solar thermal power plants," said Shimon Klein, Managing Partner of EZKlein.
Aora's modular solar power station is designed to require a smaller footprint, while generating more usable power and heat at a lower cost than other solar energy systems. 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 mode, where electricity is supplied when there is ample sunlight, 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.
