Over NIS 23 million will be invested in the development of first-of-their-kind innovative energy projects, Israel's Energy Ministry announced on Sunday.
Nineteen entrepreneurs will get their energy products funded after they answered the ministry's invitation to tender for innovations in the fields of smart transportation, water supply and energy efficiency.
The Energy Ministry's main investment, worth some NIS 12 million, is a project focusing on the development of and transition into the use of hydrogen as a fuel for freight transportation vehicles. Hydrogen would be particularly useful as fuel for heavy-duty transport due to its high energy density. One kg. of hydrogen delivers the same power as a gallon of diesel fuel.
The state's investments include the purchase of six freight vehicles, three buses, two forklifts and a portable hydrogen refueling system to aid with the regulations needed to advance and promote hydrogen in the transport fuel market.
This is the first major investment in hydrogen as an effective alternative fuel for heavy transport since the government announced its support of the initiative to construct the first hydrogen fueling station in Israel.
Energy Minister Karin Elharrar noted that innovation is "the key to reaching the ambitious standards" of net-zero carbon emissions, a goal set by her and Prime Minister Naftali Bennett at the United Nations Climate Change Conference (COP26) last November.
They stressed the importance of establishing a tech-oriented, efficient and green energy market as the global challenge of climate crisis looms.
"The path to creating a reliable and green energy market is unknown," admitted the energy minister, saying that she is "confident that Israeli entrepreneurs will once again lead the way."