Stark Power Raises 145 Million Shekels Led by Migdal in Green Energy Expansion
Translated & summarized from Globes by baba
Stark Power, founded by former Nofar Energy and Enlight executives, raised 145 million shekels led by Migdal Insurance. The company also acquired U.S. data center developer Sage for 50 million dollars, expanding its energy infrastructure and data center projects in the U.S.
The story in 6 lines · by baba
- Stark Power raised 145 million shekels, with Migdal Insurance investing 90 million shekels.
- Existing investors contributed 55 million shekels to the funding round.
- The company develops energy infrastructure and data centers in the U.S.
- Since going public, Stark Power raised a total of 665 million shekels from institutional investors.
- Stark Power acquired U.S. data center developer Sage for 50 million dollars in cash.
- Sage’s portfolio includes 5.55 GW of data center IT capacity and 1.55 GW of natural gas power plants.
Stark Power, a green energy company founded by former Nofar Energy executives Nadav Tena and Shahar Gershon along with Enlight founder Tzafrir Yoeli, has successfully completed a capital raise of 145 million shekels through a share and option issuance. Migdal Insurance was the dominant investor, purchasing 90 million shekels worth of shares and options. Existing stakeholders also participated, contributing approximately 55 million shekels to the round.
The company focuses on developing energy infrastructure and data centers in the United States. Since going public less than four months ago, Stark Power has raised a total of about 665 million shekels from leading institutional investors including Harel, Phoenix, Mor Gemel, Nukad Fund, Arkin Capital, and Alpha Fund.
In parallel with the fundraising, Stark Power completed the acquisition of Sage, a U.S.-based platform specializing in initiating and developing data center projects and natural gas power plants using a co-location model. The acquisition was valued at 50 million dollars in cash. Sage’s portfolio includes advanced data center projects totaling approximately 5.55 gigawatts of IT capacity and natural gas power plants with about 1.55 gigawatts capacity.
Stark Power described the successful fundraising as a strong vote of confidence from leading institutional investors in the company’s growth strategy and the potential of the energy infrastructure and data center sectors. The founders bring extensive experience from their previous leadership roles at Nofar Energy and Enlight, companies well known in the Israeli green energy market.
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