Tuesday, February 05, 2008

Regenerative Energy Storage specialist EnStorage raises $2m

EnStorage is developing a low-cost regenerative fuel cell energy
storage system for leveling power grid load and for firming the
production capacity of solar and wind power generation plants.
Sources inform ''Globes'' that Israeli cleantech start-up EnStorage
Ltd. has completed a $2 million financing round from Greylock
Partners, Canaan Partners of the US, and Siemens Venture Capital GmbH.
This is Greylock and Canaan Partners' first investment in an Israeli
cleantech company. Greylock marked cleantech two years ago, and after
a thorough study of the sector, has moved from theory to practice.
EnStorage CEO Eran Yarkoni, CTO Prof. Emanuel Peled, and VP R&D Dr.
Arnon Blum founded the company a year ago. The company is based on
Peled's research. The company is operating in stealth mode and has no

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