Global Renewable Energy Investors Converge in Eilat for EnergyVest
Eilat Eilot, Israel’s international yearly event in the renewable energy arena, is underway now in Eilat. The event kicked off with EnergyVest, the investment summit of the conference, on November 26th.
We spoke to one of the organizers of the event, Ophir Gore, Director of the Renewable Energy and Alternative Fuels Department at Israel NewTech. “This was the first year we have held an investment event adjacent to Eilat Eilot,” said Gore. “With over 200 participants, many of them major international cleantech investors, it was a wonderful opportunity for Israeli technology companies to present their solutions.”
Leading the EnergyVest event was the expert panel, headed by Oded Distel of Israel NewTech. Also on the panel were Gil Shaki of the Office of the Chief Scientist, Dr. Oded Merav, GE Global Research, Gadi Toren, Investment Partner at Robert Bosch Venture Capital and Dr. Kurt Kaltenegger Head of Technology at ABB Technology Ventures, a leading international investment group, which has already invested in two Israeli renewable energy companies and is seeking out more opportunities.
The panel was an opportunity for some of the biggest global names in renewable energy investment to share with Israel’s entrepreneurs their perspective and what is attractive to them in a potential investment. Their recommendation was for companies to offer a clear solution to a well-defined market. This makes it easier for potential investors to estimate market potential. The renewable energy market is growing, but the current economic atmosphere in the world is directing it to a very pragmatic place, looking for efficient solutions for real challenges.
16 Israeli companies presented their technologies at EnergyVest. “It was great to see the variety in the presenting companies,” commented Gore. “Both in terms of technologies and in terms of the stage the companies are at. We saw everything from promising start-ups at the very initial stages to companies who are already showing strong sales such as HelioFocus, Metrolight and Powercom.”
Oded Distel of Israel NewTech commented on the positive energy at the event, “We are hearing a lot of interest in Israel’s renewable energy companies from around the world. Suntech CTO Dr. Stuart Wenham is here in Eilat and today was talking about how they consider Israel a leading source of breakthrough technologies and new ideas. As we saw in the panel, efficient, pragmatic technologies to real challenges is what the market is looking for, and Israeli companies have an advantage as they combine this practical approach together with breakthrough technologies. We look forward to making EnergyVest a yearly event.”
EnergyVest was also the platform chosen to announce that a major government initiative supporting the alternative fuels arena is just a few days from officially launching. Gil Shaki, of the Office of the Chief Scientist, spoke at the panel about this initiative, one of the largest investments the Israeli government has ever made in the cleantech sector. The fund consists of over $100 Million (400 Million NIS), which will actually end up being $300 Million, as every dollar invested by the government will be balanced by $2 from the investment community.
Article appearing courtesy Israel NewTech.
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