RST Cleantech will compete with three other Israeli companies involved in cleaning solar panels traded in TASE. Israeli solar panel cleaning services company RST Cleantech has submitted a prospectus for an initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE). No financial details were provided, but in March, fuel provider and gas station chain Sonol, controlled by Dudi Weissman, invested NIS 15 million in RST Cleantech with a company value of NIS 130 million. Sonol currently owns a 10% stake in RST. Recently, Israel Canada (TASE: ISCN), headed by CEO Barak Rosen and Chairman Asaf Tuchmair, invested NIS 5 million in RST Cleantech at a NIS 150 million company valuation, and owns a 3% stake. RST will compete with three other Israeli companies involved in cleaning solar panels that are traded on TASE and have all seen their shares fall since their IPO – Ecoppia (TASE: ECPA), Airtouch (TASE: ARTS) and Bladeranger (status: BLRN). RST Cleantech, founded in 2013 by Shani Bakaliar and CEO Roy Sade, has developed advanced automatic systems for cleaning photovoltaic solar panels and installations. RST uses treated water, which has undergone filtration to remove particles that may corrode or corrode the solar panels. Unlike its competitors, robots are not used to clean panels even though the system is automated. RST Cleantech mainly operates in Israel but also has activities in the United States and Chile. Published by Globes, Israel business news – en.globes.co.il – August 8, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021 Solar Panels Photo: Shutterstock
0 Comments