Alstom, which is providing the trams for the Jerusalem Light Rail project, will invest in Israeli cleantech
The French energy company Alstom, which recently acquired a 10% stake in the solar company BrightSource, is embarking on another green project in Israel, TheMarker reported this week. In a joint venture with Rotem Industries (the business arm of the Dimona nuclear research center) and Gefen Biomed Investments, Alstom will support technology startups in the field of clean energy.
Under the memorandum of understanding signed between the partners, Alstom will have a 50% share in the new enterprise, with Gefen holding 30% and Rotem 20%. Gefen operates the ATI technology incubator in Ashkelon, but it is not clear whether the joint venture will be established as part of the incubator or as a separate company.
Alstom employs some 96,500 people in over 70 countries, and recorded sales of over €23 billion during the past year. It has been operating in Israel for over a decade, working on energy and infrastructure projects for customers such as Israel Railways and Israel Electric Corporation. Alstom is providing the fleet of vehicles for the Jerusalem Light Rail project.
The president of Alstom’s Israeli branch, former Labor Party MK and ambassador to France Nissim Zvili, said this week that Alstom began to examine the field of cleantech in Israel following a visit last year by an R&D team from the parent company. “We looked for potential partners. Rotem contacted us and this seemed to us to be an interesting match,” Zvili said.
:: TheMarker
Image via Alstom
See more on Israeli cleantech:
Luz Rises Again as BrightSource for California
BrightSource, Alstom Partner on Solar Thermal
How Israel’s Military Secrets Translate to Clean Technology
Author: Ira Moskowitz
When his kids were small, Ira would point to litter on the ground and tell them: “That makes me angry!” He still gets angry about pollution, waste and abusive treatment of our world, but is encouraged by the growing awareness of environmental issues and has been following the latest developments in cleantech with great interest. Ira grew up in the green hills of western Massachusetts and moved to Israel in the early 1980s after completing an MA in Middle Eastern Studies. He has worked as a software developer and journalist, and translates works of Hebrew fiction and non-fiction to English. Ira is trying to age gracefully, but refuses to surrender his youthful belief in the potential for change, including a collaborative future for the peoples of the Middle East. To contact Ira, email ira (at) greenprophet (dot) com.
