The company, which is changing its name to Apollo Power, has developed a photovoltaic wallpaper
Or City Holdings Ltd. has reported completion of its merger with Solar Paint Ltd., and the merged company will begin to be traded on the Tel Aviv Stock Exchange today. It will change its name to Apollo Power.
Two weeks ago, SolarPaint completed a NIS 9.4 million fund raising round in two offerings: a rights issue, and an offering to the public.
SolarPaint, which was founded by its CEO Oded Rozenberg and its CTO Eran Maimon, develops solar energy products and solutions for use on roads and infrastructures, water reservoirs, and buildings. Its main product is flexible photovoltaic wallpaper, designed to turn any surface under the sun into a power producer. The company is also developing energy storage and usage systems using a PAYG (pay-as-you-go) model, that will enable people to benefit from electric power regardless their connection to a power grid.
The research and development behind the company takes place at the micro-nano fabrication unit in the Technion Israel Institute of Technology.
Published by Globes [online], Israel business news - www.globes-online.com - on October 8, 2017
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