Aluma Fund and Discount Capital Deepen Partnership with 81M NIS Investment

Aluma Fund has announced deepening its partnership with Discount Capital, the investment arm of Discount Bank. As part of the business move, an investment of 81 million shekels will be made in Alumnergy, the fund's energy arm, in exchange for an allocation of shares representing about 16% of Alumnergy's capital. The investment is carried out at a valuation of about 411 million shekels for Alumnergy pre-money.

Expanding the Partnership

Simultaneously, Discount Capital will invest approximately 12 million shekels directly in the Aluma Fund and will receive private placement shares constituting 4% of the fund's capital. The allocation price is 1.13 shekels per share, net of a dividend of 20.17 agorot per share that the fund will distribute on October 12. Following the completion of the investment in Alumnergy, Aluma Fund is expected to retain control of Alumnergy, holding approximately 84% of its shares.

The entry of an external investor into the company, shortly after the establishment of the platform and the completion of the acquisition of Supergas Natural's activity, constitutes another layer in Aluma's active value-creation strategy and in building Alumnergy as a significant and growing energy platform.

Strategic Energy Acquisitions

This investment comes shortly after another significant move by Alumnergy: signing an agreement to acquire OPC Distributed Generation for 272 million shekels. Upon completion of the acquisition, Alumnergy is expected to reach approximately 85 megawatts of distributed electricity generation across some 25 sites on customer premises, expanding its ability to offer business clients a comprehensive solution package including natural gas, electricity generation and cogeneration, storage, and electricity supply.

For Aluma Fund and Discount Capital, this is not their first partnership. In 2025, Discount Capital acquired 20% of ESCO, the energy efficiency company in which Aluma is a shareholder, at a company valuation of 160 million shekels.

"The entry of Discount Capital as a partner in Alumnergy and simultaneously as a shareholder in Aluma Fund is, from our perspective, a significant expression of confidence in the strategy we are leading and in our ability to build and enhance infrastructure platforms," said Yair Hirsch, CEO of Aluma Fund.

Chanoch Papouchado, Head of Investments at Discount Capital, noted: "We view the energy sector as a field with significant growth potential, and the investment in Alumnergy integrates well with Discount Capital's investment strategy."