Aora’s Bright Idea Generates Hybrid Solar Power

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June 27 (Bloomberg) -- Zev Rosenzweig, Chief Executive Officer at Aora Solar, explains the newest hybrid solar technology driving his company’s growth and the fundraising needed to finance the project. He speaks with Elliott Gotkine on “The Pulse.”

When the sun is inadequate, it can burn biogas and continue to produce electricity.

The look very pretty, with the metal to look in the middle.

Do they work?

To the honest -- to be honest, they did not work at the beginning.

For the last 18 months, they have been working very well and very consistently.

The key in any solar installation compared to traditional power sources is cost.

Does the cost of your installation -- is it cheaper or as cost effective as batteries?

Once photovoltaic is cheap, won two of the cost of batteries and you get into megawatt sized batteries, it becomes significantly more expensive.

We are very competitive with photovoltaic battery storage and we are competitive with photovoltaic tied to a diesel generator for providing power during non-solar times.

I have spoken to one of my colleagues and they were talking about a lot of startups in this field and some say they have game changing technologies, but 99.9% of them are going to fail.

Why will you be in the 0.1%? we're the only one who has working prototypes.

They have been working for a number of years.

At the beginning, we experienced a lot of problems, we have overcome them, we have a configuration that has been operating consistently well.

When do you expect to get tenders to have solo technology actually deployed in a commercial installation?

We have sold their first two units to a country in africa.

They are still sold as prototypes to be monitored, but the commitment is that if they meet the expectations, that we would then rollout and implementation of many tens of units.

You have mage to about -- raised about $15 million.

How much more do you need?

We need a minimum of $25 million.

We have opportunities in the $100 million plus category in italy, as well as to opportunities in mexico.

In order to begin these, we need a few million dollars to do the engineering and permitting and then we will need the order of $20 million for each, in order to provide the equity that will allow us to finance the balance.

You need more than -- we will get one program underway, it will be easier to raise money for the second one.

That was her middle east editor, elliott gotkine.

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A major blow to the nasdaq.

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This text has been automatically generated. It may not be 100% accurate.

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