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BrightSource has raised $115 million from the likes of Google.org and BP to speed the delivery of electricity from solar-thermal plants.A conference organized by Israeli President Shimon Peres to mark the country's 60th anniversary kicked off May 13 with a showcase of 60 pioneering Israeli firms that have the potential to shake up medicine, biotech, clean energy, transportation, information technology, and communications. Among them was Luz II, a Jerusalem solar thermal energy company with more than one reason to celebrate its newfound recognition.
Early the next day, Luz II's parent company, Oakland (Calif.) based BrightSource Energy, announced that it had raised $115 million in financing from a high-profile group of investors including Google.org--the philanthropy offshoot of Internet giant Google (GOOG)--and Black River Asset Management, an asset management unit of agricultural giant Cargill. Also participating in the funding are the investment arms of two major oil companies, BP (BP) Alternative Energy and StatoilHydro Venture.
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