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Israel says to invest 6.96 mln USD in innovative energy, water projects

Release Date:2023-07-21 14:06:34     Source:Xinhua

Israel's Energy Ministry announced on Wednesday that it will invest 25 million new shekels (6.96 million U.S. dollars) in innovative research and development (R&D) projects in the energy and water sector.

The projects eligible for support are in the fields of renewable energy production, electricity transmission, smart electricity, energy storage, alternative fuels for transportation, energy efficiency, cybersecurity, health, waste-to-energy, and more.

As part of the tender, the ministry will finance up to 50 percent of the selected projects' budgets, with a maximum of 3 million shekels per project. It will also provide advisory support.

The selection will be made according to technological and business feasibility, relevance to national challenges, and a clear commercialization path.

The projects will be carried out in cooperation with the relevant government ministries alongside state-owned bodies like the Water Authority, the Israel Electric Corporation, and the Israel Natural Gas Lines company.

The ministry noted that Israel, like the whole world, strives to reduce greenhouse gas emissions while keeping energy security and reasonable costs for the consumers, and that the path to this goal is through intensive R&D. 


Editor: Galia


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