The Office of the Chief Scientist at the Ministry of Industry, Trade and Labor has chosen the Eilat-Eilot group to establish and operate the renewable energy technology center. The Chief's Scientist's committee preferred the Eilat-Eilot bid over that of the National Renewable Energy Center Group.
The Eilat-Eilot consortium includes a range of partners such as Rafael Advanced Defense Systems Ltd., Elbit Systems Ltd. (Nasdaq: ESLT; TASE:ESLT), Ormat Industries Ltd. (TASE:ORMT), ProSeed Venture Capital Fund (TASE:PRSD), Britain's Consensus Business Group, and Ben Gurion University of the Negev.
The renewable energy technology center will be built in the Arava region under Eilat-Eilot Regional Council, immediately north of Eilat. The winning consortium will invest NIS 57 million in the new center over the next five years with the Chief Scientist providing a matching amount as part of a contract with the government.
The losing group had suggested putting the new center in Eilat.
The Ministry of Industry, Trade and Labor said that the new center will encourage technological entrepreneurship in the cleantech center and create assistance frameworks for entrepreneurs who are starting out and need direction and funding for their plans.
Chief Scientist Dr. Eli Opper said that in the coming months he will publish a call for establishing a center for developing water technologies which will receive NIS 35 million funding over five years.
Published by Globes, Israel business news - www.globes-online.com - on September 21, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010