G24i Announces Second Major Investment of the Summer

G24 Innovations (G24i) has raised a further $30 million, through an investment by the renewable and alternative energy fund, 4RAE.

This is G24i’s second major funding announcement in the last two months following a $20 million investment by Morgan Stanley Principal Investments in June. 4RAE will take a seat on the G24i board and will be represented by former ABN Amro CEO and chairman Rijkman Groenink.

The announcement adds further credibility to G24i’s growing reputation as a significant contributor in the global renewable energy sector. The company is seeing growing interest in its next generation Dye Sensitised Thin Film technology as it expands the number of product applications available for its lightweight and flexible solar cells. G24i will use the investment to facilitate its rapid expansion of production and sales capability.

“This is an important and major step in the development of our business,” said Robert Hertzberg, chairman of G24 Innovations. “It is a huge endorsement for G24 Innovations that 4RAE is investing in the company. Equally, we are delighted that Mr Groenink has accepted a position on the Board of Directors. His extensive experience will be a significant addition to the strength of the company. I greatly look forward to working with 4RAE as we continue towards our objective of revolutionising personal energy.”