Israel Powers Up the Clean Energy Revolution
As climate change spurs nations to shift away from fossil fuels and embrace clean energy, technological innovation is playing a vital role in enabling the transition – and with its robust innovation ecosystem, Israel is a critical part of the energy revolution.
From the cutting-edge innovations that have helped dramatically reduce the cost of solar power to smart solutions for helping enterprises curb their energy consumption, Israel is harnessing its technological know-how to power a more sustainable future for the planet. According to the Israel Export & International Cooperation Institute, the Israeli water, renewable energy, and environmental industry includes no fewer than 800 companies and approximately 200 startups. And with valuable R&D support through initiatives like the Israel Innovation Authority’s Renewable Energy Technology Center, the public and private sectors are committed to nurturing this growing ecosystem.
Here’s a look at a few of the companies who are putting Israeli energy innovation on the map:
- Founded in 2006, SolarEdge developed a direct current (DC) optimized inverter system for boosting solar energy production while lowering the cost of energy produced. The NASDAQ-traded company employs 2,300 people globally and has deployed more than 1.25 million monitored systems in more than 130 countries across the globe.
- SmartGreen’s cloud-based platform leverages machine learning algorithms, data analytics, and IoT technology to monitor and optimize commercial and industrial facilities’ energy usage. Founded in 2013, the company works with customers including McDonald’s Israel, Electra Ltd., and HP, helping businesses save 25 percent on energy costs.
- StoreDot aims to help accelerate the electric vehicle revolution with its ultra-high-speed charging battery technology. StoreDot flash batteries can be charged in a mere five minutes, compared to 45 minutes to several hours with conventional batteries. Since its founding in 2012, the company has secured funding from prominent investors including Samsung, Mercedes Benz, BP, and Daimler. StoreDot aims to begin manufacturing its batteries in the United States by 2022.
Israel’s commitment to clean energy innovation is also reflected in the Ministry of Energy’s 2030 plan, which calls for all new vehicles in the country to be electricity and CNG-powered and for the elimination of coal-powered electricity, with natural gas and renewables accounting for all electricity production by the next decade.
For more information, please visit http://www.itrade.gov.il/ or contact your local Israel Economic Attaché.