General Employment Enterprises to Acquire Scribe Solutions, Inc.; Former CEO of MPS Group to be Appointed Chairman and CEO

Posted on December 12, 2014

General Employment Enterprises to Acquire Scribe Solutions, Inc.; Former CEO of MPS Group to be Appointed Chairman and CEO

NAPERVILLE, Ill., Dec. 12, 2014 /PRNewswire/ — ­General Employment Enterprises, Inc. (NYSE MKT: JOB) (“the Company” or “General Employment”) a provider of specialty staffing services today announced that it has signed a definitive agreement with Scribe Solutions, Inc. (“Scribe”), whereby General Employment will issue Series A Convertible Preferred Stock of the Company in exchange for one hundred percent of Scribe Solutions’ common stock. Under terms of the agreement, the exchange ratio is based on Scribe having a value between $6.4 and $7.9 million as determined by an independent appraisal firm. The transaction has been unanimously approved by the boards of directors of each Company and a majority of their respective shareholders. Upon completion of this transaction, Scribe Solutions, Inc. will become a wholly owned subsidiary of General Employment Enterprises, Inc. The stock exchange agreement is subject to certain regulatory and other approvals. Closing of the acquisition is expected to occur during the first quarter of 2015.
After consummation of the transaction, Andrew Norstrud, current Chief Executive Officer of the Company, will continue as Chief Financial Officer of General Employment. Derek Dewan, current Chairman and Chief Executive Officer of Scribe Solutions, Inc. will become Chairman and CEO of General Employment. Mr. Dewan was previously Chairman and CEO of MPS Group, Inc. In January 1994, Mr. Dewan joined AccuStaff Incorporated, MPS Group’s predecessor, as President and Chief Executive Officer, and took that company public in August 1994. Under Mr. Dewan’s leadership the company became a Fortune 1000 world-class, global multi-billion dollar staffing services provider, through significant organic growth and strategic acquisitions. MPS Group grew to include a vast network of offices in the United States, Canada, the United Kingdom, Continental Europe, Asia and Australia. MPS Group experienced many years of continued success during Mr. Dewan’s tenure and he led successful secondary stock offerings of $110 million and $370 million. The company was on the Wall Street Journal’s “top performing stock list” for three consecutive years. In 2009, Mr. Dewan was instrumental in the sale of MPS Group to the largest staffing company in the world, Adecco Group, for $1.3 billion.

Andrew Norstrud commented, “The acquisition of Scribe brings to General Employment sustained profitability, one of the best CEOs in the industry and entry into the growing healthcare staffing market. With the addition of Derek’s expertise, we will accelerate our efforts to build out the Company’s service offerings in the professional and other staffing segments. In particular, I am excited about the Company’s entry into the higher margin and fast growing healthcare staffing market. Additionally, I am looking forward to working with Derek; his extensive experience in the staffing industry will be key in propelling our organic growth and leading a strategic acquisition strategy. We welcome the entire Scribe team to the General Employment family.”

Derek Dewan added, “I am thrilled to become a part of General Employment, a pioneer in the staffing industry. Having been in operation since 1893, the Company has a reputation for outstanding customer service and I look forward to continuing that legacy.” Dewan continued, “Andrew and the hardworking employees have achieved much success in building a great staffing company which will serve as the foundation and platform for General Employment to execute its strategy. The Company is well positioned to increase its breadth and depth of service offerings, fuel internal growth, and acquire the best operating companies in the staffing industry. I look forward to assisting General Employment in achieving its strategic goals and increasing shareholder value.”

Mary Claire Menze founded Scribe Solutions in 2008, and she will assume her previous role as President of Scribe, following the completion of the acquisition.

About General Employment Enterprises, Inc.
General Employment Enterprises, Inc. (the “Company”) was incorporated in the State of Illinois in 1962 and is the successor to employment offices doing business since 1893. The Company provides staffing services through a network of offices located in the United States. The Company operates in two industry segments, providing professional staffing services and solutions and light industrial staffing services through the names of General Employment, Ashley Ellis, Triad and Omni-One.

About Scribe Solutions, Inc.
Scribe Solutions was formed in 2008 to meet the demands that physicians face with overcrowded waiting rooms, and to overcome the challenges presented by electronic medical records (EMR), and the rising cost of quality patient care. By providing physicians with personal assistants (medical scribes), Scribe offers turnkey programs where it recruits, qualifies, hires, and trains resources to serve as scribes at sites across the United States, and alleviates the burden of documentation and clerical duties. Scribe Solutions has developed a low cost staffing solution that improves productivity by providing scribe programs to emergency departments, physician practices, and outpatient and inpatient facilities.

Forward-Looking Statements
The statements made in this press release that are not historical facts are forward-looking statements. Such forward-looking statements often contain or are prefaced by words such as “will” and “expect”. As a result of a number of factors, the Company’s actual results could differ materially from those set forth in the forward-looking statements. Certain factors that might cause the Company’s actual results to differ materially from those in the forward-looking statements include, without limitation, those factors set forth under the heading “Forward-Looking Statements” in the Company’s annual report on Form 10-K for the fiscal year ended September 30, 2013, and in the Company’s other filings with the Securities and Exchange Commission. The Company is under no obligation to (and expressly disclaims any such obligation to) and does not intend to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

 To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/general-employment-enterprises-to-acquire-scribe-solutions-inc-former-ceo-of-mps-group-to-be-appointed-chairman-and-ceo-300008947.html

Filed Under: News

Arava Power Update

Posted on June 23, 2014

Dear Friends and Founders,

We are pleased to bring you news of a significant event for Arava Power.  The Phoenix Holdings Group in Israel, one of the leading financial institutions with more than 60 billion NIS under management, has signed an agreement to invest $15 million in Arava Power.  The closing is expected to take place over the next several months once government approvals are obtained. This transaction is significant in many ways for Arava Power’s future.  Most significantly, the transaction accomplishes the following:

  • Replaces Siemens as an equity holder with Phoenix (the majority of the investment is going to Siemens for this equity stake);
  • Represents Phoenix’s desire to invest more in infrastructure by using Arava Power as a platform company in photovoltaics; and
  • Provides Arava Power with an in-country partner that is motivated and able to help finance Arava Power’s future pipeline of projects.

Moreover, this transaction is being done without dilution to the Global Sun Partners, LP stake in Arava Power.  In the short-term, the effect is primarily to position Arava Power for our next stage of growth;  while in the long-term, Arava Power is now able to compete more aggressively in whatever regulatory framework is ultimately established by the government for the next chapter of the Israeli solar industry. This transaction is the culmination of more than a year of work and complex and challenging negotiations.  It is a critical achievement to ensure our opportunities in the future.  We will soon send you a notice for our annual limited partners meeting.  We will be happy to discuss this transaction and more at that time. In the meantime, please find below the English language translation of the press advisory issued today in Israel. Shine on, David, Ed, Howie & Yosef

June 22, 2014

Phoenix acquired Siemen’s part and invested $15M in the Solar Energy Company Arava Power    This is the first step of more a extensive plan to invest in Israeli infrastructures   Today, (Sunday) Phoenix signed an agreement to acquire Siemen’s (Siemens Project Ventures GmbH) part in the solar energy company, Arava Power, and to further invest. The scope of the transaction, via Amitim and Nostro funds, stands at 15 million dollars, hence defining Phoenix a substantial partner in the company. Within the transaction framework Phoenix is expected to receive a double digit IRR on its investment.   Roee Yakir, CEO, Phoenix Investments and Finance: “Phoenix’s investment in Arava Power is an additional step of a more extensive plan to invest in infrastructures, which is intended to broaden investment portfolios and generate predictable cash flow, characterized by relatively low correlation for economic turnover. PV solar energy is a unique subdivision in the field of renewable energies which, beyond contributing to the environment by producing clean electricity, benefits from stable cash flows reinforced in long term power sales agreements. Arava Power is a worthy partner with proven abilities in initiating solar projects of the broadest scope among the current players active in the field. This investment opens numerous opportunities for Phoenix for additional partnerships in the field of solar energy alongside the leading player in the industry”.   Ed Hofland, Chairman, Arava Power Company: “We at Arava Power are grateful to Phoenix for its trust throughout the entire process and we are positive that this transaction, together with Phoenix, will enable Arava Power to invest in and develop many more projects in the energy field. Furthermore, we would like to thank Siemens for five years of true partnership during which we built a strong infrastructure of solar projects producing some 100MW of green energy throughout the Negev and the Arava”.     On behalf of the Arava Power Company the transaction was led and managed by: Ed Hofland (a member of Kibbutz Ketura which is a principle investor in the company) and David Rosenblatt (Co-founder and Vice Chairman); Eran Litvak, CFO; Adv. Orit Marom, Shibolet  and Adv. Einat Davidson. Phoenix was accompanied by Mark Phillips and Limor Hudir, HFN; Ziv Haft Accounting and Plenergy Engineering.     Phoenix Insurance is the main branch of Phoenix Holdings Group. The company deals in all branches of insurance: General insurance, health insurance, life insurance and long term savings and financial services.   Arava Power is the leading solar energy company in Israel and pioneer in solar fields. It was the first solar energy company to launch a ground-based solar field in Israel, Ketura Sun,  in 2011. Last month Arava Power launched 6 additional solar fields in the Negev and Arava that together will produce 36MW of clean electricity.  The company has begun construction of a large-sized solar field, also in Kibbutz Ketura, on 600 dunams, which will produce 40 MW.   For additional details: Arad Media – Irit Radia/Michal Hadar – 03-7693333, 054-6699311/02 UNIK – Irit Nachmani – 054-6687006

Filed Under: Newsletters

Arava Power/Global Sun

Posted on June 6, 2014
arava

June 5, 2014- View of Arava Power/Global Sun Solar Field in Mitzpah Ramon, Israel as taken by one of our Investors in our 2010 investment and Advisor to Wellfleet, Dr. Michael Nimaroff.

Filed Under: Newsletters

GENERAL EMPLOYMENT ENTERPRISES, INC. (“JOB”)/WELLFLEET PARTNERS, INC. (“WP”)

Posted on June 3, 2014

GENERAL EMPLOYMENT ENTERPRISES, INC. (“JOB”)/WELLFLEET PARTNERS, INC. (“WP”)

Naperville, IL- New York City, NY– (May 30th, 2014) – General Employment Enterprises, Inc. (“JOB”), a 120 year old Company that provides staffing services in the United States, in its first 2 months since it has engaged Wellfleet Partners to provide ongoing management services, has announced the appointments of three professionals, all of whom have been referred to by Wellfleet: First, the Company announced on April 22, 2014 the formation of an Advisory Committee and named as its first member Harry Newton, a successful entrepreneur, Investor and financial blogger (www.insearchfortheperfectinvestment.com). Mr. Newton is also a Senior Member of Wellfleet Partner’s Advisory Committee; Second, on May 9th, 2014 the company appointed Francis (Frank) Elenio as its Chief Financial Officer. Mr. Elenio is an experience financial and accounting executive for over 25 years and is a longtime friend and professional associate affiliated with Wellfleet and many of their portfolio companies; and Finally, on May 22nd, 2014, the Company announced that it had appointed Jack Zwick, Certified Public Accountant and Founder of Zwick and Banyai, PLLC to its Board of Directors as Chairman of the Audit Committee.  “We are very pleased to have referred the three aforementioned professionals, advisors and dear friends of Wellfleet to JOB, our first investment through Aracle. We have no doubt that each will serve the Company in great stead” stated Mark I. Lev, Chairman & CEO of Wellfleet Partners, Inc.

About General Employment Enterprises, Inc.

General Employment Enterprises, Inc. (“JOB”) is a 121 year old New York Stock Exchange listed public Company that provides staffing services in the United States. The company offers professional placement services, including placement of information technology, engineering, and accounting professionals on either a regular placement basis or a temporary contract basis. It also provides weekly temporary staffing for light industrial clients. The company markets its services under the General Employment Enterprises, Omni One, Business Management Personnel, Ashley Ellis, Triad Personnel Services, Triad Staffing, Generation Technologies, BMCH, and BMCHPA trade names. General Employment Enterprises, Inc. was founded in 1893 and is headquartered in Naperville, Illinois

About Wellfleet Partners, Inc.

Wellfleet Partners, Inc., a sixteen year old boutique financial services, advisory and consulting firm, was founded by Mark I. Lev, esq. in 1998.  The company engages in a wide variety of consulting, and advisory work such as management consulting, strategic partnership due diligence and corporate advisory activities for a broad range of clients. These include public and private, emerging small to medium-sized, domestic and internationally-based, growth companies.  In addition, Wellfleet looks to make principal investments through its affiliate, Aracle Capital. It has strategic domestic and international partnerships in Florida and California, Dublin, London, Perth, Tel Aviv, Beijing and Tokyo. For more information, please go to www.wellfleetpartners.com. A new 2014 electronic brochure, prior quarterly newsletters and/or recent press releases are available upon request.

About Aracle Management, LLC

Aracle Management, LLC is a private investment company formed in 2013 that seeks to maximize total returns by incorporating event driven capital and opportunistic approaches coupled with synergistic management assistance. Investments are made in national and internationally based publically-traded companies with market capitalization of less than $100M. All investments are currently made via Special Purpose Funds. The Company is owned by professionals in New York City, New York, and Dublin, Ireland.

 

Filed Under: Newsletters

Congratulations Harry. We are very proud of your efforts with the state of Israel.

Posted on May 23, 2014

Israel-Firetruck (2)

Filed Under: Newsletters

Congratulations to our friend and Advisor, Harry Newton

Posted on April 24, 2014

 

General Employment Enterprises, Inc. forms Advisory Committee, names Harry Newton Its  First Member 

NAPERVILLE, IL, April    22, 2014 – General Employment Enterprises, Inc. (NYSE MKT: JOB)   (the “Company” or “General Employment”) today is pleased to   announce that the Company has formed an Advisory Committee and named   successful entrepreneur, investor, and financial blogger, Harry Newton, as   its first member.Andrew   Norstrud, Chief Executive Officer of General Employment Enterprises,   commented, “Given current plans for expansion and our estimated growth   trajectory over the next several quarters, it was crucial to augment and   diversify the expertise of our team. The new Advisory Committee will be   comprised of individuals with acumen and know-how that range from general and   specific business knowledge to specific industries, and/or operational   skills which management believes to be critical to the success of   the Company. Harry, our first member of the committee, will focus on marketing   of General Employment’s services to potential customers. The Company is   currently reviewing additional candidates and expects to name more members to   the Advisory Committee shortly”.Harry Newton is an entrepreneur who sold his publishing company in 1997   for north of $130 million. Then he became an investor in, and occasionally   chairman of companies he invested in. His expertise is overall business   strategy, marketing and technology integration. He writes a daily financial   blog called – www.InSearchOfThePerfectInvestment.com.   He is also the author of Newton’s   Telecom Dictionary, a best-selling work now in its 27th   edition.

Newton founded and grew seven monthly   magazines — Call    Center,   Computer Telephony, Imaging, LAN (later changed to Network   Magazine), Teleconnect, Telecom Gear and Technology   Investor. He also founded and grew the immensely successful   conventions/ trade shows Call Center Demo and Computer   Telephony Conference and Exposition, which, in its   last year under his control, attracted 26,000 people. He published over 40   books on networking, imaging, telecommunications and computer telephony. In   September, 1997, Newton   and his partner sold the publishing company to Miller Freeman (soon CMP and   now part of United Business Media).

Newton was also a popular public speaker for the telecommunications,   networking and technology industry and provided consulting services to many   telecommunications companies, including some that were later sold (to   companies including Intel) or successfully went IPO. Newton   has an Economics undergraduate degree from Sydney University, Australia and   an MBA from Harvard    BusinessSchool. Mr.   Newton is a referral from Wellfleet Partners, the Company’s new consulting   and advisory firm and is an investor in General Employment’s recent   financing.

More   information on this release can be found on file with the Securities &   Exchange Commission at www.sec.gov.

About General Employment

General Employment is the successor to employment offices doing business since 1893. It was formally incorporated in the State of Illinois in 1962. The Company now provides staffing services through a network of 22 branch offices located in eleven states. The Company operates in two industry segments, providing permanent professional staffing and light industrial temporary staffing.

Forward-Looking Statements

The statements made in this press release that are not historical facts are forward-looking statements.  Such forward-looking statements often contain or are prefaced by words such as “will” and “expect.” As a result of a number of factors, the Company’s actual results could differ materially from those set forth in the forward-looking statements. Certain factors that might cause the Company’s actual results to differ materially from those in the forward-looking statements include, without limitation, those factors set forth under the heading “Forward-Looking Statements” in the Company’s  annual report on Form 10-K for the fiscal year ended September 30, 2013, and in the Company’s other filings with the Securities and Exchange Commission.  The Company is under no obligation to (and expressly disclaims any such obligation to) and does not intend to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Filed Under: Newsletters

GREENBANK ENGAGES WELLFLEET PARTNERS AS ADVISORS

Posted on April 21, 2014

GREENBANK ENGAGES WELLFLEET PARTNERS AS ADVISORS

Toronto, Ontario, April 17, 2014 – GreenBank Capital Inc (CNSX: GBC) (“GreenBank”) announces that it has engaged Wellfleet Partners Inc (“Wellfleet”) as advisors and consultants with respect to fundraising strategies.

Wellfleet is a New York based boutique financial services and consulting firm, which provides small and mid-size emerging private and/or publicly traded growth companies with financial, and strategic advisory services. Wellfleet, through its funds or its managements’ investment banking relationships, engages in a variety of consulting activities related to finance, venture capital, short-term bridge loans, convertibles and related activities. Over the course of 16 years, Wellfleet has advised in over 600 transactions with publicly traded and private companies from around the globe.

“We are delighted to be working with Wellfleet as we seek to strengthen our corporate finances in anticipation of our intended application for a medical marijuana producer license and our proposed commercial medical marijuana growing operations” said Danny Wettreich, CEO of GreenBank.
About GreenBank

GreenBank is a corporate finance investment business investing in Canadian small cap companies. GreenBank’s subsidiary Canada Marijuana Agricorp intends to be a commercial producer of medical marijuana, and GreenBank’s subsidiary Bitcoin Angel Capital is seeking to make investments in early stage Bitcoin and other cryptocurrency companies. For more information please see www.GreenBankCapitalinc.com or contact Danny Wettreich at (647) 931 9768 or dw@GreenBankCapitalinc.com

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of GreenBank Capital Inc. The forward-looking information is based on certain key expectations and assumptions made by the company’s management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

The CNSX has not reviewed, approved or disapproved the content of this press release

Filed Under: Press Releases

Arava Power-Post Launch Update and Video

Posted on April 9, 2014

Arava Power-Post Launch Update and Video

Filed Under: Press Releases

Update on Arava Power Portfolio Company

Posted on April 8, 2014

Arava Power Company, responsible for Israel’s first medium-sized solar field, will be launching six such new projects.

Israel’s power grid will receive a boost this week, as 11 new solar power plants go online in the Negev and Arava.

On Monday evening, Arava Power Company – the firm responsible for Israel’s first medium-sized solar field at Kibbutz Ketura – will be launching six such new projects, throughout the Negev and Arava. The following day, EDF Energies Nouvelles (EDFEN), a subsidiary of Electricite de France, will be launching its first five solar fields.

Arava Power’s new fields will generate a total of approximately 36 megawatts worth of electricity, while those of EDF-EN will produce 32 megawatts.

“It’s a wonderful accomplishment for Arava Power Company and the State of Israel that multiple medium-sized fields are being launched simultaneously,” Arava Power co-founder and executive vice-chairman David Rosenblatt told The Jerusalem Post on Sunday. “It shows that Israel is at the start of beginning to bring scale to its solar program.”

While Arava’s launch ceremony will be held in the northern Negev’s Kibbutz Shoval, its six new projects are spread throughout the region. One of the six, however, is the 6.4-megawatt Shoval Sun.

At a cost of NIS 88.9m., the field will offset the production of approximately 162,000 metric tons of carbon dioxide over the next 20 years, with emission reductions equivalent to the planting of 233,000 trees, according to the company.

Maslul Sun, located at Moshav Maslul in the northwestern Negev, is the largest of the new Arava Power fields at 8.9 megawatts and costs NIS 123.6m. Three of the other projects include a NIS 96.5m., 6.8-megawatt site at Kibbutz Yotvata; a NIS 88.5, 6.4-megawatt facility at Kibbutz Grofit and a NIS 105m., 7-megawatt site at Kibbutz Elifaz – all in the Arava.

The five aforementioned fields included equity investments from Arava Power, the NOY fund, and Keren Kayemeth LeIsrael- Jewish National Fund. Arava Power was responsible for development of these sites, while Siemens Israel oversaw engineering procurement construction. Maslul Sun received 80% of its funding in loans from Bank Hapoalim, Migdal insurance, and Amitim pension company.

A sixth, smaller project developed by Arava Power is the 0.45-megawatt Erez Rooftops venture, which is already producing electricity for the grid. All engineering procurement construction for Erez occurred through the firm NEXTCOM.

Arava Power Company launched the country’s first medium-sized solar field, the 4.95-megawatt Ketura Sun, in June 2011, after being founded in 2006 by Rosenblatt, Kibbutz Ketura resident Ed Hofland, and American-Israeli solar entrepreneur Yosef Abramowitz.

“It’s really a compliment to the talent in Israel and mission-based business that Arava Power is, that we were able to gather so many talented people to reimagine israel’s solar energy policy,” Rosenblatt said.

For its part, EDF-EN will be launching its five new fields on Tuesday, all in the Negev Desert, and amounting to an approximately NIS 330m. investment in total. The largest of the facilities is an 8.5-megawatt field in Kibbutz Gvulot, located in the northwestern Negev in Eshkol Regional Council.

The other four fields include a 7.8-megawatt site at Kibbutz Mishmar HaNegev, a 6.4-megawatt site at Kibbutz Kerem Shalom, a 6-megawatt site at Kibbutz Nahal Oz and a 3.2-megawatt site at Kibbutz Lahav.

In addition to these five fields, which are being connected to the grid this week, EDF-EN also has four other completely constructed facilities that will soon be connected as well, the company said.

These include an 8.8-megawatt site at Kibbutz Bror Hayil, a 10.8-megawatt site at Kibbutz Samar, a 10-megawatt site at Moshav Talmei Eliyahu and a 7-megawatt site at Mitzpe Ramon.

“We believe there is real intrinsic potential for solar energy in Israel,” Ayalon Alain Vaniche, CEO of EDF-EN Israel, told the Post on Monday.

In addition to its solar activities, EDF-EN will over the next year also be focusing its on developing wind energy fort northern Israel. EDF-EN, 85% owned by the French government, first entered Israel in 2009.

While Arava Power and EDF-EN are launching their many solar fields one day after the other, the two companies actually have a long history of working together.

Arava Power remains an investor in three of the EDF-EN fields, including two that will be launched on Tuesday and one of the future sites: Mishmar HaNegev, Kerem Shalom, and Bror Hayil. While Arava now only has a 5% stake in these projects, the company was the initial developer of these projects prior to EDF-EN purchase.

EDF-EN is also a partner in the engineering work and financing of Arava Power’s future 40-megawatt solar field at Kibbutz Ketura, which is in the race to become the country’s first large-scale solar field. The partners have received NIS 250m., or 80% of the project’s total cost, from Bank HaPoalim.

The large field will be ready for grid connection by the end of 2014 or the beginning of 2015, Rosenblatt said.

While Rosenblatt stressed that Monday will be “a day of celebration” for Arava Power, there is still much work that needs to be done in Israel’s solar industry, particularly in terms of establishing additional quotas and regulations.

“We would like that scale to grow rapidly for the benefit of Israel and the economic development of the country that it represents,” he said. “We would hope that Israel makes it easier and faster to do the next five, six fields.”

Arava Power, he explained, has a pipeline of projects that extend into double- digits, but these projects are stuck due to lack of government regulation.

Vaniche expressed similar sentiments, adding that EDF-EN too has a series of projects that are simply “waiting for a decision from the regulator.”

“We are all in the same situation, where we have projects in the waiting list for which we have invested hundreds of thousands of shekels,” Vaniche said.

While the Interministerial Committee for Renewable Energy in February approved the transfer of around 300 megawatts worth of renewable energy quotas from other sources to the photovoltaic industry, Rosenblatt said that it is still unclear as to when a decision will occur as to how these new megawatts will be allocated.

“For an industry that has been waiting more than two years at this point for the right to build new fields, it’s a very long time,” he said.

Emphasizing how Israel’s strong sunlight “perfectly matches” the country’s additional energy needs, Vaniche added, “I am just sorry as a citizen that the existing potential and the existing projects are not used as quickly as possible.”

 

Mark and Joshua Lev and Marc Manuel, Magna

Posted on December 5, 2013

Mark and Joshua Lev and Marc Manuel, Magna

Filed Under: Newsletters