BIRD-F is due to help the companies leverage the grants to a total of $11.6 million through partnerships with manufacturers.
A joint committee of the US Department of Energy, Israel's Ministry of National Infrastructures, and Israel-United States Binational Industrial Research and Development Foundation (BIRD-F) has picked four cleantech companies for a joint project with US companies, and through BIRD-F, will provide $3.3 million in grants for the projects.
The projects are:
- Ness Ziona-based HelioFocus Inc., which is developing a large parabolic mirror that concentrates sunlight onto a proprietary receiver. Its US partner is Capstone Turbine Corporation (Nasdaq: CPST).
- Motorola Israel Ltd. and SmartSynch Inc., which will develop smart grid technology.
- Kfar Saba-based Tigo Energy Ltd. and Architectural Glass Inc., to develop a building covered in photovoltaic panels.
- Shfaram-based TransBioDiesel Ltd. and US biodiesel developer Purolite Inc.
BIRD-F is due to help the companies leverage the grants to a total of $11.6 million through partnerships with manufacturers.
If the joint ventures achieve commercial success, future sales will return the investment. If they fail, the companies will not have to repay the grants.
Published by Globes [online], Israel business news - www.globes-online.com - on November 25, 2009
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