TEL AVIV, Israel, Nov. 6, 2017 /PRNewswire/ -- The U.S. Department of Energy (DOE) and Israel's Ministry of Energy (MoE) along with the Israel Innovation Authority today announced $4.8 million for five newly selected clean energy projects as part of the Binational Industrial Research and Development (BIRD) Energy program.
BIRD Energy began in 2009 as a result of the Energy Independence and Security Act of 2007. Since then, BIRD Energy has funded 37 projects, with a total investment of about $30 million, including the five selected projects announced today, which will leverage cost-share for a total project value of $10.5 million. Each project is conducted by a U.S. and Israeli partner. Selected projects address energy challenges and opportunities of interest to both countries, while focusing on commercializing clean energy technologies that improve economic competitiveness, create jobs and support innovative companies.
U.S. Secretary of Energy, Rick Perry, stated in an announcement published by the DOE, "The BIRD Foundation has served as a matchmaker to develop partnerships between U.S. and Israeli researchers at the forefront of technology across the industrial spectrum. This kind of collaboration will be mutually beneficial and allow both countries to achieve their economic and energy security goals."
Israel's Minister of Energy, Dr. Yuval Steinitz, said: "Together with the BIRD Foundation we can encourage joint R&D efforts that will contribute significantly to the bright and safe future of our world. We would like even to accelerate and to enhance it, and to expand it in the years to come."
Mr. Aharon Aharon, CEO of the Israel Innovation Authority, said: "Both the US and Israel consider Innovation as a major growth engine for our economies. The BIRD Energy program facilitates this policy very effectively".
Dr. Eitan Yudilevich, Executive Director of the BIRD Foundation, said: "BIRD Energy actively engages in fostering partnerships between Israeli and American companies, focusing on energy efficiency which is critical to the global economy and environment, as well as cleaner, renewable energy. By providing financial support to both partners, the development and commercialization of such technologies are accelerated, bringing economic value to both countries."
The five approved projects are:
- Brenmiller Energy Ltd. (Rosh Ha'ayin, Israel) and Power Authority of the State of New York (White Plains, New York), will develop a high temperature storage based CHP system.
- CelDezyner Ltd. (Rehovot, Israel) and AdvanceBio LLC. (Milford, Ohio), will develop a process for production of ethanol from lignocellulosic feedstocks.
- QDM Ltd. (Rehovot, Israel) and ALD NanoSolutions Inc. (Broomfield, Colorado), will develop 3rd generation HTS cables.
- SoftWheel Ltd. (Tel Aviv, Israel) and Detroit Bikes (Detroit, Michigan), will develop an energy- efficient, low-maintenance, high-performance bicycle.
- TerraGenic Ltd. (Kadima, Israel) and Triton Systems, Inc. (Chelmsford, Massachusetts), will develop a safe hydrogen transport and storage system.
Projects that qualify for BIRD Energy funding must include one U.S. and one Israeli company, or a company from one of the countries paired with a university or research institution from the other. The companies must present a project that involves innovation in the area of energy and is of mutual interest to both countries. BIRD Energy has a rigorous review process that selects the most technologically meritorious projects along with those that are likely to commercialize and have significant impact. Qualified projects must contribute at least 50% to project costs and commit to repayments if the project leads to commercial success.
About the BIRD Foundation (www.birdf.com)
The BIRD (Binational Industrial Research and Development) Foundation works to encourage and facilitate cooperation between U.S. and Israeli companies in a wide range of technology sectors and offers funding to selected projects. BIRD has approved close to 950 projects over its 40-year history.
The BIRD Foundation supports projects without receiving any equity or intellectual property rights in the participating companies or in the projects, themselves. BIRD funding is repaid as royalties from sales of products that were commercialized as a result of BIRD support. The Foundation provides funding of up to 50% of a project's budget, beginning with R&D and ending with the initial stages of sales and marketing. The Foundation shares the risk and does not require repayment if the project fails to reach the sales stage.
Deputy Executive Director
of Business Development & BIRD Energy
SOURCE The BIRD Foundation