The Eilat-Eilot International Renewable Energy Conference reports that the Toronto Stock Exchange (the TSX) is looking to develop relationships with Israeli clean tech companies. The Toronto Stock Exchange offers the world’s largest market for clean tech companies, and the world’s eighth largest stock exchange, according to the release.
Israeli companies, especially hi-tech and biotech companies are well-represented on the NASDAQ, New York and London Stock Exchanges, but they are yet to establish themselves on the TSX.
Clean technology companies from Israel or by Israeli scientists are not yet at the stage to be publicly traded, but some companies like the geothermal energy company Ormat (based in the US) are traded in the US. A past exec from this company split off from Ormat to form his own geothermal company Ram Power, now listed on the Toronto exchange.
“Israel is a world leader when it comes to clean technology developments, however the companies behind these developments often have trouble marketing their technology and raising money – this is where we see our added value in any partnerships we establish,” says Raymond King, a business development manager at the Toronto Stock Exchange.
“The Eilat Eilot Conference will provide us with a wonderful opportunity to introduce ourselves to some of the country’s up and coming companies, and, as we will be attending the event with a senior level delegation of investment bankers and lawyers, there is a good chance that we will be able to start the IPO process for a number of Israeli firms,” he adds.
Under the auspices of the Eilat Eilot Regional Development Council and the Toronto Stock Exchange, a number of Israeli renewable energy companies already met with Toronto-based investment bankers and angel investors earlier this year. The results led to several offers of IPOs from the TSX as well as discussions on joint ventures between the Israeli companies and counterparts in Toronto, reports the Eilat conference press material.
“We are honored that the Toronto Stock Exchange has taken this firm step toward supporting clean technology energy development here in Israel, and we look forward to a productive partnership,” said Noam Ilan, Business and Technology Director for Eilat Eilot Renewable Energy Authority.
The Eilat-Eilot Conference, organized by the Eilat Eilot Renewable Energy Authority in association with the Technologies Company, focuses on the latest innovations in renewable energy. Conference participants include internationally-recognized alternative energy companies and speakers from around the world. Conference organizers expect over 2,000 attendees at this year’s event, which happens in February.