Gabriel Mimon, the director general of the Industry, Trade and Labor Ministry, reportedly plans to meet with Shai Agassi to discuss the possibility of manufacturing electric cars in Israel. In exchange for manufacturing the electric cars in Israel, Agassi's company, Project Better Place, could receive hundreds of millions of shekels in government grants.
The scheduled meeting with Mimon will follow what is described, according to a report in Ha'aretz, as a "private" meeting between Agassi and Industry, Trade and Labor Minister Eli Yishai.
During the meeting, Agassi noted that research and development for the electric cars will take place in Israel whereas production will likely be outsourced to another country. He said that a number of countries are interested in hosting the production and have offered benefits including investment grants.
But Yishai emphasized the importance of production remaining in Israel, and the two discussed the benefits the government will be asked to provide to make such production feasible.
In January 2008, Better Place announced a memorandum of understanding with Renault-Nissan to build a nationwide electric vehicle recharge grid in Israel. In March, the company declared the Israel would be its primary R&D center.
Related posts:
Project Better Place presents prototype car in Tel Aviv
Project Better Place declares Israel as primary R&D center
Israel set to adopt electric cars produced by Renault-Nissan and Project Better Place
Monday, July 14, 2008
Thursday, July 10, 2008
Gaon Agro buys Aqua Control Systems
Gaon Agro Industries Ltd. has acquired half of Aqua Control Systems for NIS 26 million from its chairman David Shani, according to a report in "Globes". The payment could increase by up to an additional NIS 10 million depending on Aqua's financial results in 2009-10.
As part of the deal, Motech Water Management Ltd., also owned by Shani, will be merged into Aqua Control Systems as a wholly-owned subsidiary.
Aqua Control Systems specializes in high performance irrigation control and communication systems, supplying computerized irrigation control systems for water supply projects in rural areas. The company has been a strategic partner of Motorola Inc. for 18 years, selling its IRRInet irrigation control and communication system under a non-exclusive license.
Gaon Agro states that Aqua Control Systems posted a net profit of NIS 1.5 million on NIS 42.9 million revenue in 2007, compared with a net profit of NIS 1.4 million on NIS 40.6 million revenue in 2006.
Motech Water Management was founded in 2006. It represents Motorola in 14 countries, including Australia, France, Italy, and Spain. Gaon Agro disclosed no financial details about this company.
Gaon Agro also manages the AquAgro Fund, a venture capital fund focused on Israeli water, agriculture and clean technologies. AquAgro has already invested in three companies: Evogene, Desalitech (formerly Advanced Desalination Technologies), and Computerized Electricity Systems.
Related posts:
Computerized Electricity Systems raises $3.75m from AquAgro Fund
AquAgro Fund announces launch of Aqua Lab for early stage investments
Advanced Desalination Technologies raises $4m from AquAgro Fund
Monday, July 7, 2008
Traffilog develops solution to improve fuel efficiency
Traffilog, an Israeli start-up based in Rosh Ha'ayin, is developing a web-based solution to better administer fleets of cars and trucks. The company was recently profiled in articles in the Jerusalem Post and Ha'aretz.
Traffilog's system features GPS and various sensors that interact with the vehicle's systems and monitor driving characteristics such as acceleration, braking, turns, engine revolutions per minute and oil pressure. The information is then reported back to a central server, and a fleet manager can determine whether vehicles are being driven safely and efficiently .
The company's "black boxes" were installed in 500 cars used by the Israel Defense Forces over the last 18 months. In response, drivers moderated their driving style and the result was an average saving of 14% in fuel consumption (280,000 liters of gas). Traffilog's system will now be installed in thousands more IDF vehicles in the coming months.
GreenRoad Technologies, another Israeli company developing a system to reduce accidents and improve fuel efficiency, raised $14.5 million from Benchmark Capital and Virgin Green Fund back in January 2008.
Traffilog's system features GPS and various sensors that interact with the vehicle's systems and monitor driving characteristics such as acceleration, braking, turns, engine revolutions per minute and oil pressure. The information is then reported back to a central server, and a fleet manager can determine whether vehicles are being driven safely and efficiently .
The company's "black boxes" were installed in 500 cars used by the Israel Defense Forces over the last 18 months. In response, drivers moderated their driving style and the result was an average saving of 14% in fuel consumption (280,000 liters of gas). Traffilog's system will now be installed in thousands more IDF vehicles in the coming months.
GreenRoad Technologies, another Israeli company developing a system to reduce accidents and improve fuel efficiency, raised $14.5 million from Benchmark Capital and Virgin Green Fund back in January 2008.
Wednesday, July 2, 2008
Applied Materials Israel to install solar panels
Applied Materials Israel is in the advanced stages of negotiating an NIS 8.5 million deal with Millenium Electric to install solar panels.
Ha'aretz reports that the solar panels, which will produce 300-350 kilowatts of electricity per hour, will be installed on the rooftops of the company's three buildings, located at the Rehovot Science Park. The panels are expected to provide the company headquarters' electricity needs, with any surplus sold to the Israel Electric Corporation (IEC).
Millenium Electric has installed panels producing about 17 megawatts per hour all over the world. In Israel, the company has supplied panels to the Trans-Israel Highway, the Defense Ministry and the Klil settlement in the western Galilee.
Israel's incentive plan aimed at encouraging the use of photovoltaic (PV) technology for private consumption came into effect on July 1st. According to the plan, all excess electricity produced by private households and industry using PV panels may be sold to the IEC at NIS 2.01 per kilowatt, compared to NIS 0.48 for electricity sold to consumers by the Electric Corporation.
Applied Materials Israel was established in 1997, and employs about 1,000 people, most of whom work at its research and development facility in Rehovot.
Ha'aretz reports that the solar panels, which will produce 300-350 kilowatts of electricity per hour, will be installed on the rooftops of the company's three buildings, located at the Rehovot Science Park. The panels are expected to provide the company headquarters' electricity needs, with any surplus sold to the Israel Electric Corporation (IEC).
Millenium Electric has installed panels producing about 17 megawatts per hour all over the world. In Israel, the company has supplied panels to the Trans-Israel Highway, the Defense Ministry and the Klil settlement in the western Galilee.
Israel's incentive plan aimed at encouraging the use of photovoltaic (PV) technology for private consumption came into effect on July 1st. According to the plan, all excess electricity produced by private households and industry using PV panels may be sold to the IEC at NIS 2.01 per kilowatt, compared to NIS 0.48 for electricity sold to consumers by the Electric Corporation.
Applied Materials Israel was established in 1997, and employs about 1,000 people, most of whom work at its research and development facility in Rehovot.
Monday, June 30, 2008
Portugal in talks with Project Better Place
Prime Minister Jose Socrates will soon sign an agreement for Portugal to join the Better Place electric car project backed by Renault SA and Nissan Motor Co, Diario Economico reported without naming its sources.
Project Better Place has already signed agreements to build electric vehicle recharge grids in Denmark and Israel, and the company has raised $200 million from investors including VantagePoint Venture Partners, Israel Corp., and Maniv Energy Capital.
Last week, Better Place CEO Shai Agassi testified before the U.S. Congress' Select Committee on Energy Independence and Global Warming. The topic of the hearing was “$4 Gasoline and Fuel Economy: Auto Industry at a Crossroads”.
In his testimony, Agassi revealed that Better Place is "in active discussions with more than 30 other countries, and with dozens of regions, provinces, states and large cities." He added that he expects four to six other countries or regions to sign agreements with Better Place in the coming months, just as Israel and Denmark have already done.
Better Place has not yet responded to today's news report, but it sounds like Portugal may be next.
Related posts:
Project Better Place in talks with Mercedes, Hawaii, and San Francisco
Project Better Place presents prototype
Deustche Bank: Project Better Place has "the potential to eliminate the gasoline engine"
Project Better Place has already signed agreements to build electric vehicle recharge grids in Denmark and Israel, and the company has raised $200 million from investors including VantagePoint Venture Partners, Israel Corp., and Maniv Energy Capital.
Last week, Better Place CEO Shai Agassi testified before the U.S. Congress' Select Committee on Energy Independence and Global Warming. The topic of the hearing was “$4 Gasoline and Fuel Economy: Auto Industry at a Crossroads”.
In his testimony, Agassi revealed that Better Place is "in active discussions with more than 30 other countries, and with dozens of regions, provinces, states and large cities." He added that he expects four to six other countries or regions to sign agreements with Better Place in the coming months, just as Israel and Denmark have already done.
Better Place has not yet responded to today's news report, but it sounds like Portugal may be next.
Related posts:
Project Better Place in talks with Mercedes, Hawaii, and San Francisco
Project Better Place presents prototype
Deustche Bank: Project Better Place has "the potential to eliminate the gasoline engine"
Sunday, June 29, 2008
Ormat secures $16m geothermal contract in Turkey
Ormat Technologies has announced that one of its subsidiaries entered into a $16 million supply contract for a new geothermal power plant to be constructed in Turkey.
Ormat said the customer, Menderes Geothermal Elektrik Uretim, a private developer and owner of the resource in Turkey, already has one operating geothermal power plant that was supplied by Ormat in 2004.
"This marks our fourth order to supply equipment for geothermal power in Turkey and continues our leadership position in creating clean energy both in megawatts and the number of power plants in the country. With the addition of this plant, Ormat will have increased the amount of megawatts it supplies to 20 countries to over 950 MW," said Dita Bronicki, CEO of Ormat.
Ormat did not disclose how much power the new plant would produce, but said it would convert both steam and brine from geothermal wells into electric power.
The company said the plant would also use air-cooled condensers and allow 100 percent geothermal fluid reinjection, which Ormat said serves both to sustain the reservoir and to produce electrical power with virtually no environmental impact.
Related Posts:
Google and Ormat discussing cooperation
Thursday, June 26, 2008
Dassault interested in Project Better Place
Dassault Group, the French aerospace and software giant, is seeking co-investment opportunities in Israel, while also examining possibilities in the Project Better Place electric car venture.
"The electric car market is the future. We are studying the possibility of joint projects regarding development," Laurent Dassault, the company's vice chairman, told The Jerusalem Post in an interview at the France-Israel business forum in Jerusalem on Tuesday. "During the visit in Israel I met up with Idan Ofer [Chairman of Project Better Place] to discuss possibilities."
Dassault came to Israel this week as part of the business delegation accompanying French President Nicolas Sarkozy.
"The electric car market is the future. We are studying the possibility of joint projects regarding development," Laurent Dassault, the company's vice chairman, told The Jerusalem Post in an interview at the France-Israel business forum in Jerusalem on Tuesday. "During the visit in Israel I met up with Idan Ofer [Chairman of Project Better Place] to discuss possibilities."
Dassault came to Israel this week as part of the business delegation accompanying French President Nicolas Sarkozy.
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