Orb Energy to Launch Asian Solar Energy Business

Orb Energy is now fully funded and can begin delivery of solar energy systems in India by October after signing with a group of cleantech investors. Orb will provide solar systems for backup power and for thermal applications. The company is targeting small to medium-sized residential and commercial customers, many of whom experience chronic power shortages.

“Orb is focusing on Asia’s emerging markets because this is where people struggle to find reliable power supply,” said Damian Miller, Orb CEO. “We know there is a willingness to pay near-commercial prices for more convenient solar energy solutions and we will bring a strong product portfolio to meet that demand.” Investors in Orb include Cleantech Europe, managed by Zouk Ventures, Renewable Capital, the investment business of Ed Stevenson, founder of Solar Integrated Technologies, and the Singh Family. “This business is an important part of the solution to India’s changing energy needs,” said Samer Salty, CEO of Zouk Ventures, “and today looks well positioned to support a cleaner, more effective energy infrastructure throughout Asia.” Zouk Ventures, a London-based venture capital firm that currently manages more than $100 million, is a founding member of the Cleantech Venture Network and is focusing on expansion stage capital in renewable energy, energy storage, emission reduction, nanotechnology, water and recycling.
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