Israeli company Elencon Systems has signed a memorandum of understanding with French engineering company Alstom SA, a unit of US giant General Electric (GE), with a view to a long-term collaboration agreement.
Elencon, of the Gefen Investments group, has developed technology for managing energy consumption that can reduce the cost of cooling large buildings by 30%. So far, there have been several successful installations in Israel: at the Hasharon Hospital, the Holon Institute of Technology, and the Crowne Plaza Hotel in the Azrieli towers in Tel Aviv.
The average saving is NIS 200,000 ($51,000) annually, or NIS1,000,000 ($255,000) over five years. Elencon CEO David Waimann said, "There is no comparable technology in the world today, and so the company has great potential."
Elencon founder and CTO Izidor Liberman said, "There is a trend in the Western world of legislation making it mandatory to examine how to save energy in large buildings, and so a whole industry has developed in this field. This trend is steadily developing in Israel as well."
Published by Globes [online], Israel business news - www.globes-online.com - on February 28, 2016
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