Solar panel cleaner RST files for TASE IPO

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RST Cleantech might be competing with three different Israeli firms concerned in cleansing photo voltaic panels which are buying and selling on the TASE.

Israeli photo voltaic panel cleansing providers firm RST Cleantech has filed a prospectus for an Preliminary Public providing (IPO) on the Tel Aviv Inventory Alternate (TASE).

No monetary particulars have been offered however in March, gas supplier and fuel station chain Sonol, managed by Dudi Weissman, invested NIS 15 million in RST Cleantech at an organization valuation of NIS 130 million. Sonol at present has a ten% stake in RST. Extra lately Israel Canada (TASE: ISCN), headed by CEO Barak Rosen and chairman Asaf Tuchmair invested Nis 5 million in RST Cleantech at an organization valuation of NIS 150 million, and holds a 3% stake.

RST might be competing with three different Israeli firms concerned in cleansing photo voltaic panels which are buying and selling on the TASE and have all seen their share value having fallen since their IPO – Ecoppia (TASE: ECPA), Airtouch (TASE: ARTS), and Bladeranger (TASE: BLRN).

RST Cleantech, which was based in 2013 by Shani Bakaliar and CEO Roy Sade, has developed superior automated programs for cleansing photovoltaic photo voltaic panels and installations. RST makes use of handled water, which has undergone filtration to take away particles liable to trigger scale or corrosion on the photo voltaic panels. In contrast to its rivals it doesn’t use robots to scrub the panels though the system is automated.

RST Cleantech operates primarily in Israel but additionally has actions within the US and Chile.

Revealed by Globes, Israel enterprise information – en.globes.co.il – on August 8, 2021