A conference organized by Israeli President Shimon Peres to mark the country's 60th anniversary kicked off May 13 with a showcase of 60 pioneering Israeli firms that have the potential to shake up medicine, biotech, clean energy, transportation, information technology, and communications. Among them was Luz II, a Jerusalem thermal solar energy company with more than one reason to celebrate its newfound recognition.

Early the next day, Luz II announced it had raised $115 million in financing from a high-profile group of investors including Google.org—the philanthropy offshoot of Internet giant Google (GOOG)—and Black River Asset Management, an asset management unit of agricultural giant Cargill. Also participating in the funding are the investment arms of two major oil companies, BP (BP) Alternative Energy and StatoilHydro Venture.

All of Luz II's previous investors also kicked in to the latest round, including the Chevron Technology Ventures unit of Chevron (CVX), Silicon Valley venture firm Draper Fisher Jurvetson, Morgan Stanley (MS), and DBL Investors, a former unit of JP Morgan (JPM), bringing the company's total funding to date to more than $160 million.