Globalturk Capital has invested in a renewable energy technologies and services company by getting a minority stake and is advising on commercializing the technology and globalizing the company and its operations. Globalturk Capital is in the process of assisting 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. Today it is believed to be the only company generating steam directly from water, many years ahead of every other solar thermal technology that exists today. These technologies are acknowledged and welcomed by professors and experts in the U.S. and in Europe and are being recommended to energy companies for implementation. The Company has 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.
The Company, who has operations in Turkey, U.S.A. and many other countries, has submitted bids to build solar thermal plants from utility companies to renowed refineries, petrochemical plants, glass manufacturing facilities, textile and cement plants and geothermal energy producers.
Globalturk Capital exited from Hitite by the end of December 2013 by selling its shares to a Middle Eastern Company.