Israeli cleantech company Mapal Green Energy has postponed its IPO on the AIM stock exchange in London, sources inform "Globes." As far as is known, the offering encountered considerable difficulties, among other things as a result of the Greek debt crisis, whose negative effect on the European capital markets was felt last week.
Mapal Green Energy originally planned to raise £2-3 million at a company value of tens of millions of dollars. The first day of trading in the share was scheduled for July 10 (last Friday), but the flotation was unsuccessful, and the company is remaining private. Mapal Green Energy, which began on Kibbutz Yagur in the foothills of the Carmel mountain range, is developing systems that facilitate savings in energy costs for sewage purification plants.
The company whose share was actually to have traded was Mapal Group, which fully owns Mapal Green Energy. The company was founded by CTO Hanoch Magen, who created its technology, and CEO Zeev Fisher. The company's systems are units that float in sewage pools, and inject them with delicate oxygen bubbles that accelerate the purification processes. The saving in energy costs achieved by the system makes it possible to make back the investment in it within five years.
Published by Globes [online], Israel business news - www.globes-online.com - on July 16, 2015
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