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| Volume 1 April 2008 |
Editor: Eric Weiss |
Featured Articles
Recent Deals & Investments
Israel Going Green
Global Perspectives
Upcoming Events |
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Note from the Editor CICC Cleantech Program Gains Momentum at 1st Meeting of Steering Committee The California Israel
Chamber of Commerce (CICC) introduced its Cleantech Program and the upcoming
Israel Cleantech Tour, currently planned for November 2008 in the San
Francisco Bay Area. The first Cleantech Steering Committee meeting was held
on May 2, 2008 at the offices of USVP in Menlo Park, with representatives
from California based venture and banking firms, cleantech companies, and
the policy/regulatory community. |
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The CICC is well positioned to help California companies and investors to discover the nearly 500 Israeli cleantech ventures providing innovations related to clean water, green agriculture, pollution control, energy efficiency, renewable energy and other environmental technologies. |
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The California-Israel Chamber of Commerce (CICC) and its
leadership
include people already active in cleantech, such as Mike Splinter, CEO of
Applied Materials, Shai Agassi, Project Better Place, Sass Somekh, former
CEO of Novellus and Chair of the California PHEV program and former CEO of
Novellus, and Eric Benhamou (3Com, Cypress, Palm). We are now poised to
extend the Chamber’s platform to the field of cleantech.
The CICC is launching a clean tech investment program employing a competitive model very similar to the one we most recently used with the IsraelWebTour and with semiconductors, software and telecom in years prior – bringing Israeli companies here and corporate partners/investors to Israel. The CICC is currently working on exciting range of cleantech programs to benefit both California and Israel. The programs will foster thought leadership, investment, entrepreneurship and networking between the Israeli and California cleantech communities. Already joining this initiative are key players from industry, venture capital academia, government and financial services. For more information please contact: Eric
Weiss, Chair, CICC Cleantech Program at |
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| Featured Articles | |
| Israel Takes the Lead in the Cleantech Revolution | |
| Israel21c - By Gene Dolgin March 10, 2008 | |
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From communications to software, to
semiconductors, to medical devices - Israel has been at the cutting edge of
technology for the last 30 years, and it's not about to miss the next
revolution, in which technology will facilitate a cleaner, more sustainable
world. Global concern over a looming energy crisis, water scarcity and man-made climate change are driving a huge demand for clean technologies, which focus on preserving the earth's resources - energy, water, air and soil. More... |
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| Israeli water companies take on world market | |
| Reuters Published by Ynet March 18, 2008 | |
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After decades of developing water technologies
aiming to "make the desert bloom", Israel has shifted focus to selling its
products abroad with a goal of doubling exports in the sector to $2 billion
by 2010. From ultra-violet light technology to purify water to a recycling system using millions of small, plastic rings to breed bacteria and break down organic waste, Israeli innovations are finding buyers abroad. More... |
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| Israeli-Led Venture Develops Auto Hydrogen Fuel Tank | |
| REUTERS NEWS SERVICE by Tova Cohen February 1, 2008 | |
| An Israeli-Russian-German venture said it had developed a safe and lightweight hydrogen tank, overcoming a significant obstacle to the mass manufacture of automobiles operated by hydrogen fuel. More... | |
| Israel's Eco Energy looks to seaweed as a super-green biofuel | |
| Israel21c By Karin Kloosterman March 17, 2008 | |
| With scientists all over Israel and the world racing to find an efficient fossil fuel substitute, interest in "second generation biofuels" is growing. Scientists, companies and investors are looking beyond biofuels made from corn, sugar cane and vegetable oils and are turning to organic materials and waste that won't compete with food crops. More... | |
| Cleantech's Next Wave Washes Over Valley | |
| Silicon Valley / San Jose Business Journal - by Emma Ritch February 22, 2008 | |
| Water might just be the next big thing. The rising cost of energy, a deteriorating distribution system and a shrinking clean-water supply are creating a hot market for water-sector technologies that is drawing interest from venture capitalists and consumers. Analysts estimate the global market for water-related businesses is worth between $400 billion and $500 billion. But until recently, the sector has secured significantly less funding than its cleantech counterparts. More... | |
| Recent Deals & Investments* | |
| Stanford Announces $10 Million
Commitment to Tel Aviv-based AquAgro Fund Stanford Venture Capital Holdings has announced it has committed to invest $10 million in AquAgro Fund L.P., a venture capital fund formed to focus on Israel's innovative water, agriculture and clean-tech technology businesses, which encompass desalination, filtering, water recycling, computerized irrigation management and control, automated irrigation, and the efficient use of recycled water for agriculture and industry. |
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AquAgro Invests $3.75M in Computerised Electricity Systems quAgro, has invested $3.75 million in Netanya-based start-up Computerised Electricity Systems (CES). CES’s technology aims to replace the household electricity box, enabling the electricity utility to reduce the supply on the grid during peak house in a uniform and equitable way for all customers and avoiding blackout and brownouts of whole neighborhoods. CES completed product development nine months ago and already has a large contract with a utility of a foreign country for the sale of several systems over the next few years. |
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AqWise completes funding round. The sewage treatment
company plans to expand business in current markets and enter new ones Sewage treatment solutions start-up AqWise Ltd. has raised $3.6 million from Israel Cleantech Ventures Funds, Elron Electronic Industries Ltd.and AHMSA Steel Israel Ltd. |
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CellEra Raises $2 Million CellEra is an Israeli stealth-mode startup that is planning to bring affordable fuel cells to market. |
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Solel, Sacyr Sign €850 Million Solar Power Deal Carlos
Ruano Spanish builder Sacyr Vallehermoso (SVO.MC) agreed to build and operate three solar power plants in Seville with Israel's Solel for an investment of €850 million. Sacyr said on Friday the thermal solar plants would have a total capacity of 150 Megawatts (MW). Solel Solar Systems, which makes solar thermal technology for power plants, will also build a factory nearby, investing 90 million euros. |
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California Approves Solel-PG&E Solar Contract The California Energy Commission on Thursday approved a 25-year contract between Solel Inc and Pacific Gas & Electric for power generated from a 554-megawatt solar thermal power plant in the Mojave Desert to come on line by January 1, 2011. The Mojave Solar Park will be the largest solar thermal power plant in the world. BrightSource Energy of Oakland, California and Jerusalem, Israel is also partnering with PG&E on the Mojave power project. |
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Israeli Solar Startup Grabs $10 Million Solar energy startup Pythagoras Solar has completed a $10 million first round of funding led by Israel Cleantech Ventures and joined by Pitango Venture Capital and Evergreen Venture Partners. The solar company, which has offices in Israel and Silicon Valley, aims to reduce the cost of solar panels through a combination of software modeling, optic design, semiconductor processes, materials science, and mass manufacturing techniques. For CICC exclusive podcast featuring Udi Paret, VP of Pythagors Solar Click Here. |
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CheckLight Secured First Round of Financing |
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BGU to Invest in Israel Cleantech Ventures BGU, [affiliated with Ben Gurion University], a leader in research and development of technologies in the fields of water, energy and the environment , is investing in Israel Cleantech Ventures, Israel’s first cleantech focused venture capital fund. |
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Ormat signs 20-year agreement with S. California Edison Ormat Technologies, Inc. has announced that its subsidiary has signed a 20-year power purchase agreement with Southern California Edison (SCE). The agreement is for the sale of energy to be produced by a new plant that will be built in Imperial Valley, California. The plant is expected to come on line by mid 2012 and is expected to have a total output of 30 megawatts. The agreement includes an option to increase capacity to 100 megawatts. |
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IBI leads road show for environmental fund IBI Investment House Ltd. is handling a road show in Israel for the Aeolus II Fund of Natsource Asset Management LLC. Three Natsource executives have arrived in Israel to raise tens of millions of dollars out the $1 billion planned to be raised worldwide. The Aeolus II Fund is a follow-on hedge fund of the $100 million Aeolus I Fund. Natsource invests in greenhouse gas (GHG reducing infrastructure and industrial projects and environmental assets. |
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| Israel Going Green* | |
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IAI Enters Cleantech Market. The company plans to use its
wind tunnels and aerodynamics technology to improve the turbines now on the
market The board of Israel Aerospace Industries Ltd. (IAI) has approved the company's entry into the wind and solar energy sectors. The company plans to exploit its turbine technology, wind tunnels, and aerodynamics engineering know-how to improve the turbines now on the market. |
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New Regulations Boost Investment into Solar Photovoltaics.
Distributor Raises $1.1 Million Distributor and installer SolarPower Israel is betting on new regulations in Israel to boost investment into solar photovoltaics, in turn driving strong growth in their own business. The government will soon buy back electricity generated from solar panels at a much higher rate than it has purchased from the utility. Even without the new regulation, the company has been growing about 20 to 30 percent a year, according to Globes. The $1.1 million was provided by Precede Technologies and Rosenram Development. |
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Israel Opens Its Skies to Wind Energy With financing of some $100 million expected to come from Afcon Industries, Israel's Shlomo Group and Eli Ben-Dov, the former deputy division chief at the Israel Electric Corporation, are currently negotiating with local regulators to install two new wind farms in Israel. It is estimated that 150 megawatts of energy will be produced by the new venture. |
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Israel to Hold Tender for Solar Energy Plants Israel will publish a tender at the end of February to build two solar power plants in the southern Negev desert, the National Infrastructure Ministry said on Sunday. The two solar energy plants will supply 250 megawatts of electricity. "According to the progress of projects until now, we will be able to meet our target of producing 600 megawatts of electricty from renewable energies by 2011-2012," National Infrastructure Minister Binyamin Ben-Eliezer said in a statement. |
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Mayors of 15 Major Israeli Cities to Sign International
Resolution, Commit to Decreasing Greenhouse Emissions by 20% by 2020 The mayors of 15 major Israeli cities will join the fight against global warming in two weeks time, by joining the International Council for Local Environmental Initiatives' (ICLEI) Cities for Climate Protection Campaign (CCP), thereby committing to reducing greenhouse emissions by 20% in their cities by 2020, as well as to other environmental protection measures. |
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Renault to develop electric cars for Israel The Renault-Nissan alliance on signed a deal to begin mass producing electric cars as part of an Israeli-led project to develop alternative energy sources and slash oil dependency, in partnership with Project Better Place. |
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| Global Perspectives* | |
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US Senate approves clean energy cooperation with Israel The US Senate has approved cooperation with Israel in clean energy - the U.S.-Israel Energy Cooperation Act - as part of the Energy Independence and Security Act of 2007. The House of Representatives is due to approve the bill, and President George W. Bush is expected to then sign it into law. The Senate vote was 86:8. The bill will establish a third binational science cooperation body, in addition to the US-Israel Binational Science Foundation (BSF) and Israel-United States Binational Industrial Research and Development Foundation (BIRD-F). The Energy Independence Act stipulates that the Secretary of Energy will establish a program for grants to support research, development, and commercialization of technologies for renewable energy and the efficient production and use of energy. Israeli sources in Washington predict $20 million in allocations a year over the next five years for joint US-Israeli energy projects. The Energy Independence Act includes financing grants for the production of energy from biofuel, biomass, wind, ocean waves, and geothermal sources. Projects will include joint basic research between US and Israeli academic institutions and applied research projects between companies from both countries. A three-person panel will head the advisory committee: one representative from the US federal government, a candidate from a list prepared by BIRD-F, and a candidate from the BSF. The new program is the result of American Jewish Congress-sponsored talks between scientists, engineers, academics, and company executives held in Jerusalem in 2003. |
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Report: Clean energy growing rapidly Worldwide markets for clean energy are expanding rapidly, and slated for strong growth over the next decade, according to a report issued by Clean Edge Inc. Revenue in biofuels, wind power, solar photovoltaics and fuel cells grew 40 percent in 2007, to $77.3 billion worldwide, according to the Portland-based energy research firm. Clean Edge predicts total revenue for the sectors will more than triple to nearly $255 billion by 2017. New investment in clean energy development grew 60 percent in 2007, to more than $148 billion worldwide. In the United States last year, $2.7 billion in venture capital -- almost 10 percent of total venture investing went to clean energy. |
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Investors put $3B into cleantech in 2007 The largest U.S. cleantech deal of 2007 belonged to Palo Alto-based Project Better Place, which raised $200 million in its first round of funding to develop a market-based transportation infrastructure for electric vehicles. A report released by Dow Jones VentureSource shows that in all, venture capitalists invested a record $3 billion in 221 "clean technology" deals worldwide in 2007, a 43 percent increase over the $2.1 billion invested in 173 similar deals in 2006. |
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Applied Materials stock up on $1.9B solar power deal Applied Materials Inc. shares rose more than 7 percent after the company revealed it has $1.9 billion in agreements for solar factory equipment outside the United States. Santa Clara-based Applied Materials said in an SEC filing that it has agreed to supply and install equipment for "multiple solar factories" for an unnamed private corporation based outside the United States. |
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Silicon Valley companies announce buyers' group for
renewable power Fourteen California companies -- including such local heavyweights as Advanced Micro Devices Inc., Apple Inc., Cisco Systems Inc., eBay Inc., Google Inc., Hewlett-Packard Co., Intuit Inc. and Intel Corp. launched a renewable power partnership. The group is focused on sharing best practices for purchasing and developing new sources of renewable energy, and said the partnership will help individual companies meet environmental goals, reduce exposure to volatile electricity prices, and support new clean technologies. The Green Power Group - California Affiliates is the third commercial and industrial partnership convened by the World Resources Institute. The first two partnerships, the U.S. Green Power Market Development Group and the European Green Power Market Development Group, have facilitated the development of over 600 megawatts of renewable energy through on-site projects and green power purchases. |
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| * Compiled from Red Herring, VentureBeat, Reuters, Globes and San Jose Business Journal | |
| Upcoming Events | |
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April 8, 2008 Tel Aviv University - Tel Aviv, Israel Environmental Technology Research at Tel Aviv University For more information Click Here |
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May 20-21, 2008 Tel Aviv University - Tel Aviv, Israel Renewable Energy and Beyond featuring Al Gore, former Vice President and Recipient of the Nobel Peace Prize An international conference at Tel Aviv University and a landmark event in Israel - where environmental research, policy and awareness are laying the foundations for cross-border cooperation in the Middle East and around the world. The conference will focus on the following subjects:
Speakers will include government ministers, scientists and policymakers from Israel and the region, as well as heads of international agencies. For more information Click Here |
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Get your message in front of the people with influence! |
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| Become a sponsor/corporate member of CICC | |
| CICC gives you and your company an unparalleled opportunity to engage the mindshare of the most significant executives in the industry both in Israel and California. Recognized as a leading business network, we have developed various levels of sponsorship that allow you and your company to reach your market. You'll find a unique environment in which you can share your vision, products, and services with the entrepreneurs and investors in our circle and those innovators who debate the ideas and opportunities that will drive this industry forward. Our members profile is the envy of the industry, drawing as it does, the senior executive management of the leading public and private industry firms, as well as the senior management of leading institutional investment organizations. To find out how your company/firm can become a part of this extremely valuable information source for the key industry players, please call: 408-343-0917 or e-mail Shuly Galili at: shuly@ca-israelchamber.org | |
| Join the supporters of CICC: | |
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| Gemini Israel Fund, USVP, Perkins Coie, Zoran, Ernst & Young, EMC, KLA Tencor, El Al, Norwest Venture Partners, Bank Leumi USA, Storm Ventures, Jefferies Broadview, TriNet, Morrison & Foerster. | |
| CICC is a non-profit, non-governmental, membership-supported organization dedicated to strengthening business and trade relations between California and Israel. | |
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Copyright © 2008 CICC |
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