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Gulf, Past News, Saudi Arabia

US Solar Technology Firm Successfully Partners With Saudi Arabian Investor

US Solar Technology Firm Successfully Partners With Saudi Arabian Investor

Riyadh, Saudi Arabia

Riyadh, Saudi Arabia (Photo credit: Wikipedia)

Solexel, a leading US-based producer of high-performance solar PV technology, has successfully finalised a round of financing that included Riyadh Valley Company, the venture capital investment arm of King Saud University of Saudi Arabia.

Through investor introduction services provided by naseba, the investment will be used to help transition Solexel into revenue. Solexel’s innovative high performance, lightweight solar PV panels deliver low cost energy.

The Middle East is the most liquid region in the world today and investors based there are keen to adopt innovation, as well as foster entrepreneurship. The region is fast becoming an expansion hub as GCC investors are aggressively looking into investment opportunities from around the world.

To avoid the time, expense and cultural pitfalls of trying to go it alone, Solexel chose Dubai-based deal facilitation firm, naseba, to assist them in finding new investors. Giving an insight into his experience in the Kingdom, Mark Kerstens, CFO of Solexel, said: “Every investor that we met had a clear intention to invest, along with the availability of capital. The money that we have raised will be used to finance our expansion plans. We would like to thank naseba for introducing us to numerous Middle Eastern investors from their network who were looking for opportunities like ours.”

Commenting on the successful deal, Fabien Faure, Managing Director of naseba, said: “Saudi investors have an appetite for investing in innovative companies that have the potential to disrupt their industries. Our clients from Solexel travelled 8,000 km to find their venture capital partner and they chose Riyadh Valley Company, as they can help them immensely with their expertise. They also clearly demonstrated their orientation to long-term success and sustainability. They were looking for an international investment opportunity within the alternative energy sector, and I believe these two parties are a perfect fit.”

About Naseba

English: Kingdom Centre, Riyadh, Saudi Arabia....

English: Kingdom Centre, Riyadh, Saudi Arabia. Taken by BroadArrow in 2007. (Photo credit: Wikipedia)

Naseba offers business facilitation expertise in growth markets.

We create deal flow, foster networking and enhance knowledge exchange. Naseba supports you with educating your workforce, entering new markets, raising capital, securing partners and closing sales.

Our services include investor introductions, industry meetings, leadership forums, and professional trainings.

Naseba partners with governments, key figures in media, industry and academia to add real value to our network worldwide.

Since inception in 2002, naseba has connected over 80,000 executives globally through more than 700 proprietary business platforms.

Naseba has offices in France, India, United Arab Emirates and the United States.

Naseba. Creating opportunity.




About Ray Hanania

Ray Hanania is an award winning Palestinian American columnist. Named "Best Ethnic American Columnist" for 2006/07 by the New America Media. He is the recipient of four Lisagor Awards from the Chicago Headline Club and the 2009 Sigma Delta Chi Award for column writing from the Society of Professional Journalists. Visit his website at www.TheDailyHookah.com. Find his podcasts on iTunes and on Vimeo.


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