The hackathon was held online due to COVID-19 restrictions.
Company will provide technology to digitize the armed force’s communication system
Elbit, which will publish its quarterly results next month, said it will record the write-off in non-cash expenses related to impairment of assets and inventory.
“Elbit is an asset to Israel’s security, a shining example of Israeli creativity and innovation. Israeli industry is the backbone of Israel’s economy,” Rivlin said.
Each project is conducted by a US-Israeli partnership, and the selected projects address energy challenges and opportunities, focusing on commercializing clean energy technologies.
In May, Elbit said it would supply vehicular tactical radio systems worth $127 million to an unnamed South Asian army.
Tactical radios supplied over a three-year period will include configurations for integration on-board armored fighting vehicles and tanks at battalion and company level, Elbit said.