28 October 2012
Industry Pioneer Yosef Abramowitz
Goes Global with Solar Fields
DS Apex Mergers & Acquisitions chosen to lead $10 million fund raise
(Tel Aviv, Israel) – As part of a new, separate venture, the founders of Arava Power Company, have engaged DS Apex M&A Ltd. (subsidiary of DSAP: Tel Aviv) to raise $10 million to fund the development of solar fields outside of Israel.
The team is led by Yosef Abramowitz, today awarded “Person of the Year” by the 2012 Israel Energy and Business Convention, who serves as President of Arava Power Company – Israel’s leading solar developer. In 2009, Siemens bought a 40 percent stake in Arava Power Company, which has developed the only commercial scale grid- connected solar field in Israel and is expected to break ground on eight additional fields shortly.
“Yosef and the founding team of Arava Power are recognized globally as solar pioneers who can identify a solar market early and create tremendous shareholder value,” said Yair Ephrati, CEO of DS Apex M&A. “We are honored to represent Yosef and his partners and support their global expansion plans.” The new solar power company, as of yet unnamed, will focus exclusively on markets outside of Israel, primarily in the developing world.
“Eighty-five percent of Africa has no power,” said Abramowitz. “And most of the 15% who have electricity are burning dirty and expensive diesel. We have a moral and strategic interest to end the burning of oil for electricity production worldwide. Our investors will derive great value by our providing clean and inexpensive power to energy-hungry markets, while also improving the lives of tens of millions of people.”
“DS Apex is well-positioned among Israeli and global investors in the energy field,” added Abramowitz. “We are pleased to work with them to bring this high-growth opportunity to their investor base.”
Prior to today’s “Person of the Year” award bestowed by a prestigious energy convention, Abramowitz was recently named by CNN as one of six leading green pioneers worldwide as well as the 26th most influential Jew on the planet by The Jerusalem Post. “Yosef Abramowitz pioneered the application of solar energy in Israel and succeeded in finding a way to integrate a Zionist vision with an economically-sound business model. We are proud and honored to award him with the title of Person of the Year in the energy sector in 2012,” said Amit Mor, Israel Energy and Business Convention head and CEO of Eco Energy.
In addition to Abramowitz, the founding global team includes Arava Power Chairman Ed Hofland of Kibbutz Ketura, Arava Power Vice Chairman David Rosenblatt of New Jersey, Arava Power investor Howie Rodenstein of Boston (who serves as chairman of global solar Newco) and Ira Green of Ra’anana, Israel, former deputy CEO of Arava Power.
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DS Apex M&A Ltd. is the investment banking arm of DS Apex Holdings Ltd. It is owned by DS Apex Holdings and Yair Ephrati. Over the past few years, the company has emerged as a leading investment bank with a focus on energy, technology, industry and services in a unique position for cross-border transactions. Yair Ephrati has over 15 years of investment banking experience.
