Photovoltaic co 3GSolar raises $2.5m from HuaXiang

3GSolar's low-cost DSC modules provide an alternative to traditional PV modules, such as thin film and crystalline silicon.

17 December 12 15:49, Globes correspondent

Chinese industrial and real estate giant HuaXiang Group has made a $2.5 million investment in Jerusalem-based start up 3GSolar Photovoltaics Ltd. HuaXiang reported that this is the company's first investment in Israel.

Based on highly-efficient, low-cost DSC modules, with a focus on the global photovoltaic (PV) market, 3GSolar provides an alternative to traditional PV modules, such as Thin Film and Crystalline Silicon. 3GSolar’s DSC cells are a 3rd generation technology of solar PV cells for solar power generation, stemming from a photosynthesis-like process that uses a sandwich of dye coated titanium oxide and a counter electrode to create an electrical current on illumination.

Joma International, a leader in highly engineered titania materials is a strategic partner of 3GSolar, and professors from Bar Ilan University and the Weizmann Institute of Science are academic partners.

3GSolar's investors include Israel Electric Corporation (IEC) (TASE: ELEC.B22) and London-based Smedvig Capital, part of the Smedvig Group.

Published by Globes [online], Israel business news - www.globes-online.com - on December 17, 2012

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