Golden Energy Completes Merger with Elgry Power – A Leading Player in Solar Energy and Storage

Internet Gold Announces Full Merger with Elgry Power – A Leading Israeli Company in Solar Energy and Storage

Internet Gold has announced the successful completion of its full merger with Elgry Power, one of Israel’s most prominent companies in the solar energy and storage sector. As part of the agreement, Internet Gold acquired 100% of Elgry’s shares in exchange for a share allocation that grants Elgry’s shareholders 50% ownership of the newly merged entity.

Elgry Power has demonstrated impressive business performance. In 2024, the company reported revenues of approximately ₪26.6 million, a gross profit of ₪10.6 million, and operating profit of ₪2.56 million — figures that reflect strong financial stability and rapid growth in the renewable energy market.

This strategic move aims to create a unified and powerful corporate entity that combines proven solar operations with innovative technological development — particularly in the field of green hydrogen, where Qudiosol, Internet Gold’s subsidiary, is actively engaged. The goal of the merger is to position the combined company as a technological and financial leader in both local and global markets.

Internet Gold’s CEO, Yaron Kaiser, emphasized that the merger is part of a broader strategic plan.

The initiative has also received the support of the Ministry of Energy and the Israel Innovation Authority, marking a significant boost to Internet Gold’s ongoing expansion into the worlds of sustainability and smart energy.