Israel’s Energy Ministry has plans to invest 6.96 million US dollars in innovative research and development (R&D) projects in the energy and water sector.
The investment will focus on projects dealing in the fields of renewable energy production, electricity transmission, smart electricity, energy storage, alternative fuels for transportation, energy efficiency, cybersecurity, health, waste-to-energy, and more.
As per the tender, the ministry will finance up to 50 percent of the selected projects’ budgets, with a maximum of 3 million shekels per project. In addition, it will also provide advisory support. The selection of the projects will be made according to technological and business feasibility, relevance to national challenges, and a clear commercialisation path.
The projects will be on collaboration with the relevant government ministries alongside state-owned bodies like the Water Authority, the Israel Electric Corporation, and the Israel Natural Gas Lines company.
The Ministry noted that Israel also has goals to reduce greenhouse gas emissions while keeping energy security and reasonable costs for the consumers, and this can be achieved through intensive R&D.