Electric road co ElectReon teams with Renault-Nissan

Electreon Photo: PR
Electreon Photo: PR

ElectReon installs coils beneath the surface of roads for charging electric vehicles while they are traveling.

ElectReon Wireless Ltd. (TASE:ELWS), which develops smart road technology that wirelessly charges electric cars, has signed a cooperation agreement with French-Japanese auto manufacturer Renault-Nissan-Mitsubishi. ElectReon will receive an electric car from Renault-Nissan-Mitsubishi, install its system in the car, and adapt it to smart road technology, thereby facilitating travel through wireless energy transfer.

ElectReon was founded in late 2013 by chairperson and CEO Oren Ezer and CTO Hanan Rumbak. They founded the company after serving in various positions in Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT).

ElectReon was first listed on the Tel Aviv Stock Exchange (TASE) in October 2017, when it merged with stock exchange shell Biomedix. Since the merger, the company's share price has soared nearly 200%, pushing its market cap up to NIS 120 million. ElectReon is controlled by Ezer and Rombak, each of whom owns 19% of the shares, and Dan Bus Company (13.6%).

Ezer stated today, "Smart road technology is the next stage in the evolution of global public transportation. It is designed to cut operating costs, completely halt dependence on oil and gasoline, and make the public space cleaner and cheaper. I am confident that this cooperation and other such agreements will make Israel a pioneer in technology-based transportation solutions."

ElectReon's technology is based on coil infrastructure installed below the surface of road lanes. If the development is successful, energy will be transmitted to electric vehicles traveling in the lane, thereby extending the vehicles' travel range, while also saving time spent on charging the vehicles. Cars will be equipped with a small battery so that they can also travel on roads lacking the company's infrastructure. The battery can be charged while the vehicle is traveling on roads in which the coils infrastructure has already been installed. Since the battery will be small, cars will weigh less.

Buses first

ElectReon plans to first use its technology on buses traveling in designated lanes and later in private vehicles. Implementation of the technology also depends on cooperation from regulators (e.g. infrastructure and transportation ministries in Israel and European countries).

Last month, ElectReon signed a cooperation agreement with Dan in which an initial public transportation route will be established powered by wireless energy charging. The company has also signed a memorandum of understanding with French company Hutchinson, which is to design and develop a mass production line for the coils infrastructure developed by ElectReon for installation beneath the road surface.

Three months ago, ElectReon reported success in a trial that began in March 2016 in cooperation with the Tel Aviv municipality and Technion, Israel Institute of Technology. The trial was aimed at testing the durability of the coil infrastructure under real conditions in which buses and private cars travel on the road on which the infrastructure has been installed at all hours of the day, including testing whether the coils beneath the road surface really do transmit energy to an external receiver above the road. ElectReon announced that the system had worked as planned and had transmitted energy to the receiving unit at more than 80% efficiency.

ElectReon is currently completing construction of a test site north of Netanya. The company is planning demonstrations of its technology in the coming months with an electrical vehicle with no battery and charging a small battery in a traveling electric car.

Published by Globes [online], Israel business news - www.globes-online.com - on July 25, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

Electreon Photo: PR
Electreon Photo: PR
David Amsalem  credit  Noam Moskowitz, Knesset Spokesperson's Office Rafael to pay state NIS 444m dividend

The minister in charge of the Government Companies Authority, David Amsalem, has approved the payment by the defense company.

Barak MX air defense system  credit: IAI IAI profit jumps 55%

Israel Aerospace Industries posted a net profit of $493 million for 2024, and ended the year with an all-time high orders backlog of $25 billion.

A TSG system in tactical use  credit: PR TSG signs cooperation agreement with US defense co

The agreement includes the integration of TSG's advanced technologies into sensor-based defense systems, which will be integrated into the operational systems of US defense units.

Bria CEO Yair Adato credit: Kseniia Poliak Israeli visual generative AI co Bria raises $40m

Bria’s Visual Generative AI platform empowers businesses to create predictable, controllable, and on-brand content that aligns with their visual language.

Amnon Shashua and Aviram Ziv credit: Eyal Izhar OrCam stymied by investor dispute with Shashua

Demands by institutional investors are blocking the visual and hearing impairment device developer's recovery plan.

Work on the Green Line credit: Bar Lavi Egged wins tender to operate TA light rail Purple, Green Lines

NTA awarded the tender to Egged, which already operates the Red Line, despite government ministry opposition to one operator for the entire network.

Gabi Seroussi illustration: Gil Gibli Board chooses Seroussi as IAI chair as Erdan freezes candidacy

Israel Aerospace Industries board chose Gabi Seroussi as chair even though he did not to go through the preliminary process of the Government Companies Authority appointments review committee.

Bavli Park penthouse credit: Eyal Tagar Tel Aviv Park Bavli penthouse sells for NIS 43m

A 44th floor penthouse in one of the two towers in businessman Yitzhak Tshuva's Park Bavli project has been bought by an Israeli businessperson.

El Al aircraft  credit: Yoav Yaari El Al pilots receive nearly NIS 250,000 bonus each

Thanks to the agreements signed with the unions in 2018, El Al's employees as well as senior management share in last year's success.

Pentera CEO Amitai Ratzon credit: Eyal Izhar Israeli security validation co Pentera raises $60m

Pentera's platform enables security teams to analyze complete attack paths, identify root causes, and prioritize remediation for effective risk reduction.

Tel Aviv credit: Shutterstock Supply of unsold new homes hits record

Israel's real estate market is sliding into recession with 78,000 unsold new apartments in January, the Central Bureau of Statistics reports.

D&B chairman Doron Cohen and Meitar partner Dan Geva Meitar reclaims title of Israel's biggest law firm

Meitar has first place with 537 lawyers, followed by Herzog Fox Neeman with 512 lawyers, according to the latest Dun's 100 rankings.

First International Bank of Israel CEO Eli Cohen  credit: Eyal Toueg First Int'l posts top return on equity

First International Bank of Israel's return on equity in 2024 was 19%, the highest among Israel's banks.

Dina Ben Tal Ganancia  credit: Guy Kushi & Yariv Fein El Al almost quintuples profit

The airline posted a net profit of $545 million for 2024, 4.7 times the profit in 2023, and an all-time high.

Gev Hadari credit: Nati Hortig Sompo Israel appoints Gev Hadari as cybersecurity head

Hadari's expertise spans penetration testing, including Red Team operations, web applications, mobile applications, OT/IOT products, and both external and internal assessments.

Attack drones credit: Shutterstock IDF issues tender for 5,000 Israeli-made attack drones

Critics of the tender say the number being procured is insufficient and thewre are security concerns about Chinese components.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018