zouk's Cleantech Europe fund increases its shareholding in Orb Energy
zouk today announced that Cleantech Europe, a technology fund managed by the firm, has agreed to increase its shareholding in Orb Energy (“Orb”) by purchasing shares held by Renewable Capital. Samer Salty, CEO of zouk said: “Orb has managed growth extremely well and is fast becoming a major player in the region. We believe the company has the right team, strategy and delivery model to tackle this very large market opportunity.”
Orb CEO Damian Miller commented: “We welcome zouk's move to increase their shareholding in Orb and appreciate the vote of confidence this represents. zouk was an early investor in Orb and has contributed to our early growth and success.”
Orb has already built a strong presence in India. In just over one year, the company has established 40 branches throughout the state of Karnataka. By the end of the year it is targeting 60-70 branches. At an Orb branch, customers can purchase solar photovoltaic systems for back-up power, solar thermal systems for hot water, and a range of solar lighting solutions. Orb also helps customers arrange a loan and provides long-term service.
Founded in 1999, zouk is a London based investment manager focusing on Cleantech as well as renewable and environmental infrastructure. zouk currently manages two technology funds and invests in solar infrastructure projects through zouk Solar Opportunities Limited. For further information please visit www.zouk.com
About Orb Energy
Orb’s sales and assembly operations are headquartered in Bangalore, India. Orb's main activities are product development, assembly, sales, marketing, installation and servicing of solar systems through a network of branches and dealers.
For further information please contact:
Philip Tomlin, Investor Relations
+44 (0)20 7947 3421