After 10 years of research, and holding 10 patents registered in Europe, the US, India, Israel, and Canada, industrial technology company Green Vision Systems (GVS) Ltd. is now seeking to move onto the next stage - fundraising. The company has approached the Gabriel Lippmann Institute in Luxembourg, a state-run research facility, which helped a government investment firm undertake to make an initial investment of €3.5 million, providing that Green Vision can raise a matching sum from another institution. According to company founder and CEO Danny Moshe, an Israeli entity in the satellite market has expressed an interest in partnering with Green Vision.
Luxembourg is a small country, but it has a network of 27 satellites providing broadcast services to countries worldwide.
Green Vision has developed sensors for the detection of contaminants in the air, water and in the ground that can be used in many ways (such as the prevention of chemical terrorist attacks). The company is initially focusing on the environment - meaning water sources and air quality. Green Vision's system is land-based, and the company also intends to offer it on airborne and satellite platforms, which is why the contact with the Luxembourg institute is an important step forward for it.
Moshe himself has provided part of the funding for Green Vision's R&D to date, "$10 million and more than 220 human years," as he puts it. He claims the money came from government R&D sources , private investors, and also from profit he and GreenVision Systems earned from the sale of another of his companies, Malcam Ltd., which develops and manufactures microwave volumetric moisture and density information systems.
Government investment company BIP Investment Partners SA has been targeted for the current investment.
Published by Globes [online], Israel business news - www.globes-online.com - on June 1, 2008
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