The company will develop innovative reverse osmosis systems for desalinating water from wells.
Biomedix Incubator Ltd. (TASE:BMDX) saw its share jump 31.5% on the TASE today after the Office of the Chief Scientist approved funding for a new project. The share has risen 256% since the start of 2009.
The Chief Scientist will fund a group of entrepreneurs within the Biomedix Incubator who are developing an innovative system for desalinating brackish water from wells using the reverse osmosis method.
The installation being developed will increase the amount of water produced, and reduce the quantity of salt waste generated as well as additives used in the process thus making the system more economic than current methods. Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA) chairman Eli Hurvitz's Pontifax Fund owns 18.7% of Biomedix.
Published by Globes [online], Israel business news - www.globes-online.com - on May 12, 2009
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