Globalturk Capital invested in Hittite Solar, a renewable energy technologies and services company by getting a minority stake and advised on commercializing the technology and globalizing the company and its operations. Globalturk Capital assisted the Company in setting-up global strategic and/or financial partnerships along its objectives, and closely monitors its investments and operations.
The Company has uniquely positioned itself by developing solar thermal technologies (direct steam generation) and desalinization systems, tested and patented them. It was the only company generating steam directly from water, at that time. These technologies were acknowledged and welcomed by professors and experts in the U.S. and in Europe. The Company developed and patented other technologies to generate electricity from wind and sea waves, as well as developed solar thermal solutions to extract heavy oil from reservoirs and to increase steam generation power of inefficient geothermal wells.
Globalturk Capital exited from Hittite by the end of December 2013 by selling its shares to a Middle Eastern Company.