Israel is quickly becoming a global superpower in climate technology. The reason for this shift boils down to one word – innovation. Among the many innovative technologies developed in Israel are those for water, agriculture, and renewable energy.
To attain net-zero emissions, it will take tremendous work to create, improve, and implement climate technologies—specially made to hasten the decarbonization process. For example, to achieve net zero energy by 2050, clean hydrogen production, a low-carbon energy carrier, would have to increase more than seven times annually. According to one study, global capacity for long-term energy storage, which aids in the use of renewable energy, must increase by a factor of 400 by 2040.
Israel, which aims to be net zero in 2050, emits only 0.2% of the total global CO2 releases. But its technologies are critical to addressing climate change and water shortages. Israel has quite a lot to contribute to delivering this goal; Israel is a global pioneer in high-tech, which applies to many areas that address climate change and sustainability.
Climate technology is a technology that combats climate change by reducing worldwide emissions of greenhouse gases. This involves both the removal of greenhouse gases from the atmosphere and the decrease of emissions in the future.
The quarterly investment in climate technology has been between $15 billion and $20 billion, consistent with the first half of 2021. More significant macro trends in the public and private sectors suggest a favorable prognosis and a growing demand for climate technologies. The market for climate technology is a rapidly emerging asset class that provides investors with high financial returns and the opportunity to have a significant positive impact on the environment and society.
A few years ago, climate technology was not as prevalent in Israel. However, today, the country is home to 700 climate tech businesses that have raised $2.5 billion.
Climate technology applications can be divided into three broad sector-agnostic categories:
- Directly mitigate or remove emissions
- It helps us to adapt to the impacts of climate change
- Enhance our understanding of the climate.
Here are some Israeli climate tech companies helping with the climate tech sector:
- Eco Wave Power
Eco wave has developed a patented, innovative, and cost-efficient technology for turning ocean and sea waves into green electricity. Eco Wave Power owns and operates a wave energy array, which is connected to the grid in accordance with a Power Purchase Agreement (PPA). - ECOncrete
Where concrete meets our oceans, marine life suffers. Unfortunately, this was all too clear to ECOncrete’s co-founders, marine biologists, and innovators, who believed they could develop a material that’s good for the structure, and the environment. Established in 2012, ECOncrete is an interdisciplinary science-based company with a unique blend of professionals, including biologists, ecologists, environmental engineers, designers, and concrete technology specialists. - Elements
Element’s is an online platform to save time and money while protecting the environment. It will enable specific technologies for each consumer and employee to not only save you money but also support the environment—the ClimateBenefit.Element is a platform that reduces your utility bills and your personal footprint on the environment by making renewable technology, such as solar panels and wind and water solutions, more accessible and affordable to homeowners. - RayCatch
Raycatch is an AI diagnostics technology for solar energy, on a mission to revolutionize the manual PV monitoring market by enabling automated, insight-driven management of solar assets. By deciphering existing solar energy data, Raycatch transforms PV Operation and Maintenance (O&M) tasks from traditional manual scheduled operations to on-demand automatic management. No hardware or software installation or site visits are needed. The result is maximized performance and maintenance of solar assets, leading to increased yield, decreased operational costs, and accelerating solar energy penetration in the global energy market. - Nostromo
Nostromo Energy is an energy storage company that has developed a revolutionary thermal energy storage cell, the building block for a water-based energy storage system that is the safest, cleanest, and most cost-effective energy storage system in the market. A team of energy industry experts leads Nostromo Energy. - IOSIGHT
IOSight is a leading provider of data management and analytics solutions specializing in the Utility sector. IOSight provides well-proven industry-specific water and energy utility solutions and delivers various benefits, including water quality monitoring, cost reduction, productivity improvement, and regulatory compliance. - Phenome networks
Phenome Networks empowers plant breeders through its modern software, bringing advanced workflows and experimental and analytical techniques. Phenome Networks’ Phenome One platform transforms traditional plant breeding by organizing the wealth of data generated in the plant breeding process. It assists companies and universities in developing better yields, outcomes, and plant resilience. Phenome One’s Breeding Process Management module supports all stages of the breeding process, from crossing to selections and evaluations. It provides quick and straightforward procedures to track and trace data.
Israel’s most significant contribution to the climate crisis has been the development of innovative climate technologies, very few of those mentioned above.
About the Author
Vanshika has an academic background in Data Science, Statistics (Minoring in Economics) and is passionate about sustainability. She leads sustainability verticals at the Israel Economic Mission to the West Coast.
Write to Vanshika Patel at vanshika.patel@israeltrade.gov.il
