BIRD Foundation to Invest $6.4 Million in Seven Israeli Cleantech Projects
BIRD provides a matchmaking service between U.S. and Israeli companies as well as financial support. The foundation has invested more than $350 million in 1,000 projects to date
The Israel-U.S. Binational Industrial R&D (BIRD) Foundation will invest $6.4 million in seven clean energy projects, The U.S. Department of Energy (DOE) announced Wednesday.
Among the seven selected projects are Lod, Israel-based Chakratec Ltd. and Miami Beach-based Blink Charging Co. developing an energy storage system for charging electric vehicles; Haifa-based Elbit Systems Ltd. and Massachusetts-based Ballard Unmanned Systems Inc. jointly working to develop a hydrogen-powered vertical take-off and landing drone; and Sderot-based Exency Ltd. and New Hampshire-based Brayton Energy LLC developing a solid waste fueled electricity generation system.
Also on Wednesday, the BIRD Foundation announced it has invested in more than 1,000 joint projects of American and Israeli companies, at its reception held at the Peres Center for Peace and Innovation in Tel Aviv. The event was moderated by Calcalist reporter Adi Pick. At the reception, former BIRD recipients Insightec Ltd., ECOncrete Tech Ltd., mPrest Technologies Ltd., Lingacom Ltd., and Opgal Optronics Ltd. presented about their partnerships through the foundation.
BIRD provides both matchmaking support between U.S. and Israeli companies, as well as funding that covers up to 50% of a project’s development costs, with a limit of $1 million per project. BIRD does not take a stake in the companies. Since its founding in 1977, the foundation has invested more than $350 million, according to BIRD’s statements.
