IRP SYSTEMS CEO Moran Price..
(photo credit: AVI BITON)
There was considerable excitement at the opening event of the fourth Israel-China Innovation Summit held a few weeks ago at the Foreign Affairs Ministry in Jerusalem when Prime Minister Benjamin Netanyahu and Chinese Vice President Wang Qishan visited some of the stalls of technology companies and start-ups in order to get their own impression of the creativity and courage of the Israeli inventors and developers. The pair’s first stop was the stall of Israeli hi-tech company IRP Systems, where CEO Moran Price, 41, explained the innovative and fast electric propulsion systems that the company has developed. They even had the honor of operating a vehicle that had won a world championship for remote-controlled vehicles. What those present at the event did not know was that IRP Systems has specialized mostly in developing and selling powerful electric propulsion systems and products to the aviation industry in Israel and abroad, and that the decision to expand into the global automotive industry was a dramatic process for this small quality company. It was founded in 2007 by Moran Price’s husband, Paul Price, who is also the company’s CTO.
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