Joint US-Israel energy initiative poised to invest $7.15 million

The Binational Industrial Research and Development (BIRD) Energy program, a joint investment fund intended to bolster energy cooperation between the United States and Israel, is poised to invest $7.15 million into future upcoming projects between the two nations. The projects, totaling up to $17.4 million in future investments, will focus on the areas of batteries, electric aircrafts, fuel cells, electric cars, natural gas, wind energy and overall energy efficiency. “I am proud of the successful collaboration between Israeli and US companies, which is based on mutual trust and groundbreaking innovation in the energy market,' said Energy Minister Yuval Steinitz. 'I hope that these R&D projects will bring us closer to an efficient and clean energy market. Government investment in R&D is important to help reach these goals, and as a recovery tool from the coronavirus crisis we are experiencing now.” The US Department of Energy and the Israeli Energy Ministry selected eight clean energy projects to award the $7.15 m. under the BIRD Energy initiative. The total value of the projects includes $10.25 m. in cost share options from the companies selected to be funded. 'The BIRD Energy program is a magnet that attracts companies interested in joint US-Israel innovation, with each company playing a synergistic role aimed at achieving and commercializing technological breakthroughs,' said executive director of the BIRD Foundation Dr. Eitan Yudilevich. 'Despite the significant hurdles posed by COVID-19, companies succeeded in submitting high quality collaborative proposals.” BIRD Energy was founded in 2009 as a result of the Energy Independence and Security Act of 2007. To date, it has funded 55 energy projects totaling government investments of approximately $42 million, with an additional $55 million matched from the private sector. Each project is conducted and fulfilled by both a US and Israeli partner of the program, and addresses 'challenges and opportunities that are of interest to both countries and focus on commercializing clean energy technologies that improve economic competitiveness, create jobs and support innovative technologies and companies,' the initiative said in a statement. 'Promoting innovation in the field of energy is a joint goal of Israel and the US,' said Israel Innovation Authority CEO Aharon Aharon. 'We are therefore pleased to see the high level of engagement by industries in both countries. We wish success to the approved projects and look forward to the technological advancements they will make.”

Joint US-Israel energy initiative poised to invest $7.15 million

The projects, totaling up to $17.4 million of future capital, will focus on the areas of batteries, electric aircrafts, fuel cells, electric cars, natural gas, wind energy and overall energy efficiency.

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Joint US-Israel energy initiative poised to invest $7.15 million

The projects, totaling up to $17.4 million of future capital, will focus on the areas of batteries, electric aircrafts, fuel cells, electric cars, natural gas, wind energy and overall energy efficiency.

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