Discount Capital Invests Millions in Aluma Fund's Energy Arm
Translated & summarized from Ice by baba
Aluma Fund and Discount Capital are deepening their partnership with Discount Capital investing approximately 93 million shekels in Alumenergy, the energy arm of Aluma Fund, and directly in Aluma Fund itself. The investment in Alumenergy, valued at 411 million shekels pre-money, will give Discount Capital a 16% stake. This move aims to bolster Alumenergy's position as a significant energy platform, following recent acquisitions and expansion plans. The collaboration builds on a previous successful partnership between the two entities.
The story in 6 lines · by baba
- Discount Capital is investing 81 million shekels in Alumenergy, Aluma Fund's energy arm, for a 16% stake.
- Discount Capital will also invest 12 million shekels directly into Aluma Fund for a 4% stake.
- The investment values Alumenergy at approximately 411 million shekels before the capital injection.
- Alumenergy recently acquired Supergas Natural Gas operations and is purchasing distributed OPC for 272 million shekels.
- Aluma Fund will retain control of Alumenergy with approximately 84% of its shares post-investment.
- This expands a prior partnership where Discount Capital bought a 20% stake in Aluma's energy efficiency company Esco in 2025.
Aluma Fund has announced an expanded partnership with Discount Capital, the investment arm of Discount Bank, involving a total investment of approximately 93 million shekels. Discount Capital will invest 81 million shekels in Alumenergy, Aluma Fund's energy subsidiary, in exchange for about 16% of its shares. This investment values Alumenergy at approximately 411 million shekels before the capital injection. Additionally, Discount Capital will invest 12 million shekels directly into Aluma Fund for a 4% stake.
The investment in Alumenergy comes shortly after the company finalized the acquisition of Supergas Natural Gas operations and signed an agreement to purchase distributed OPC for 272 million shekels. These moves are part of Aluma Fund's strategy to build Alumenergy into a significant and growing energy platform. Following the investment, Aluma Fund is expected to retain control of Alumenergy with approximately 84% of its shares.
Alumenergy, with the new capital, will expand its distributed electricity generation capacity to about 85 megawatts across approximately 25 customer sites. This will enhance its ability to offer integrated energy solutions, including natural gas, electricity generation, cogeneration, storage, and electricity supply to business clients.
This is not the first collaboration between Aluma Fund and Discount Capital. In 2025, Discount Capital acquired a 20% stake in Esco, an energy efficiency company in which Aluma Fund is also a shareholder. This prior transaction was part of Aluma Fund's exit from Esco, where it sold 38% of the company for about 60.8 million shekels, yielding an average annual return of around 30% on its investment.
Yair Hirsch, CEO of Aluma Fund, stated that Discount Capital's entry as a partner in Alumenergy and a shareholder in Aluma Fund signifies strong confidence in their strategy and ability to develop infrastructure platforms. Hanoch Papushdo, VP of Investments at Discount Capital, highlighted the significant growth potential in the energy sector and Alumenergy's substantial platform. Amit Fragment, CEO of Alumenergy, expressed that Discount Capital's investment is a significant vote of confidence in their strategy and growth potential, viewing them as more than just a financial partner but as a knowledgeable industry player.
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