Giza Venture Capital Taiwanese portfolio company Danen Technologies Corporation (Taipei: 3686) has held an IPO on the Taipei Stock Exchange, after less than three years in business. Danen manufactures high-quality solar ingots for photovoltaic applications, including solar cells, and has become a leader in its field since it was founded in 2007.
Danen held its IPO at a company value of $350 million, and the share price jumped 23% in its first day of trading.
Giza invested in Danen's first institutional round in 2009, and was the only non-Taiwanese investor in the round. The investment is part of Giza's Asian investment strategy, with a focus on Taiwan.
Yishai Klein heads Giza's Asia operations from an office in Singapore. Giza recently established a designated fund for investment in Asia. Klein said, "Danen has made rapid and impressive progress since it began operations. The company succeeded in leveraging its technological advantage and know-how to consistently produce very high-quality wafers, thereby differentiating it from its competitors."
Danen's customer base includes all of Taiwan's top solar cell manufacturers, as well as leading European, Asian and US manufactures, such as Korea's Samsung Solar Energy Ltd., Taiwan's Motech Solar Ltd., Neo Solar Power Corp. (Taipei: 3576) and E-Ton Solar Tech. Co. Ltd. (Taipei: 3452), Conergy Inc., China's Suntech Power Holdings Co. Ltd. (NYSE: STP), and Germany's Q-Cells SE (DAX: QCE).
Giza has three Taiwanese portfolio companies: Danen, Advanced Lithium Electrochemistry Co. Ltd. (ALEEES),
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Medical imager Arineta, GE Healthcare to collaborate
Cardiology imaging developer Arineta Ltd. has signed a strategic partnership with GE Healthcare to jointly develop computed tomography (CT) for cardiovascular applications.
Caesarea-based Arineta did not disclose the size of the deal, but sources believe that it is substantial for the company. Arineta and GE Healthcare did not disclose details of the collaboration either, but, like similar agreements, Arineta will probably focus on the development of the product, while GE Healthcare will provide sales and marketing services.
Arineta chairman Yosi Morik said, "We believe this collaboration with GE Healthcare provides the most effective path for Arineta to bring its cardiovascular imaging technologies to market."
GE Healthcare VP and general manager for Global CT and Advantage Workstation Steve Gray said, "CT can be a viable, minimally-invasive imaging alternative for many cardiovascular procedures. We chose Arineta as a partner because we believe their cardiovascular imaging technology complements the GE Healthcare market-leading position in CT imaging."