BIRD Energy to Invest $6.4 Million in Cooperative Israel-U.S
TEL AVIV, Israel, Dec. 23, 2019 /PRNewswire/ -- The U.S. Department of Energy (DOE) and Israel's Ministry of Energy (MoE) along with the Israel Innovation Authority have selected seven clean energy projects to receive $6.4 million under the Binational Industrial Research and Development (BIRD) Energy program. The total value of the projects is $15.4 million, which includes $9 million of cost share from the companies selected for funding.
BIRD Energy began in 2009 as a result of the Energy Independence and Security Act of 2007. Since then and including the projects announced today, BIRD Energy has funded forty-nine projects with a total government investment of approximately $38 million, in addition to the $49 million in matching funds coming from the private sector.
Each project is conducted by a U.S. and an Israeli partner. Selected projects address energy challenges and opportunities that are of interest to both countries and focus on commercializing clean energy technologies that improve economic competitiveness, create jobs and support innovative companies.
Dan Brouillette, U.S. Secretary of Energy, said: "The BIRD Energy program continues to deliver results, to the benefit of both the United States and Israel. The innovative clean energy companies awarded to date have commercialized seven new energy technologies and attracted more than $450 million in follow on investment, creating jobs in both countries. I'm excited by the prospect of awardees announced today to contribute to continued success of the program."
Dr. Yuval Steinitz, Israel's Minister of Energy, said: "The BIRD Foundation is a successful collaboration framework in R&D and innovation between the Israel Ministry of Energy and the U.S. Department of Energy. This collaboration enables both countries to promote joint development of technologies in diversified areas, and bringing them to commercialization in a short time."
Mr. Aharon Aharon, CEO, Israel Innovation Authority, said: "Promoting innovation in the field of clean energy technologies is a joint goal of the Israel Innovation Authority, and the U.S.. This collaboration brings significant value for the development of the cleantech industry in both countries as well as the promotion of additional sectors through effective energy management. The joint projects that have won this round of financing presented promising technological innovations that address clean energy challenges in both countries and worldwide."
Dr. Eitan Yudilevich, Executive Director of the BIRD Foundation, said: "Funding received from the BIRD Energy program, enables partnerships between the U.S. and Israel to develop jointly innovative alternative energy technologies and energy efficiency solutions, contributing to the economies and the sustainability goals of both countries. The BIRD Foundation is proud to cultivate and support U.S.-Israel energy partnerships between entrepreneurs, established companies and research institutions of both countries."
The seven approved projects are:
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 partners 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 and selects the most technologically meritorious projects along with those that are most likely to commercialize and bring about 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. 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