Israeli eVolution Networks has succeeded in raising $22,5 million from Warren Buffett’s Berkshire Hathaway Energy holding company and the participation of GE Ventures.
The startup offers energy saving solutions for Mobile Network Operators (MNOs), in order to help them lower costs through smarter energy management. According to eVolution Networks, the mobile network industry consumes roughly 3% of global energy usage, costing around 20 billion dollars annually!
Its not the first time that Mr. Buffett is investing in Israeli companies, since back in 2006 he bought 80% of Iscar, a local blades maker for $4 billion and in May of 2013, he acquired the remaining 20% for an additional 2,05 billion dollars. After that, he bought 60% of Agro Logic LTD, which develops electronic management solutions in caring for livestock, and he continued with the acquisition of Ray-Q Interconnect, an electric connectivity components manufacturer which works closely with the defense and aerospace industries in the region.
