Stark Power Raises 145 Million Shekels Led by Migdal in Green Energy Expansion

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.