Canadian Investors Needed to Establish Technology Centre

Israeli Economic Consul Jonathan LevyPic: Canada Israel Chamber of Commerce

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A festive breakfast was held this week in Toronto by the Canada Israel Chamber of Commerce, and was sponsored by the Israeli delegation of the Ministry of Economic Trade and Industry. During the event, in a video conference, the Technological Center for Renewable Energy was presented. The center will be established in the Eilot region and is intended to promote commercialization of innovative Israeli technologies. The center will work in part by conducting pilots and assisting in start-ups of Israeli companies specializing in alternative energy production. The video conference was another stage of a world conference held in Eilat last week.

A strategic plan in the Eilot region

The Administration of Energy of the Eilat-Eilot region was established in May 2006 as part of a regional strategic plan to make advances in renewable energy as a lever to create a sustainable Eilat-Eilot region. The region is interested in developing and expanding the population with an emphasis on bringing in skilled individuals. The main areas of livelihood are agriculture (in Eilot) and tourism (in Eilat). Renewable energy has a tremendous potential in helping to develop the area technologically, scientifically and business-wise. Alongside regional development, the project is designed to promote the struggle against global warming and other environmental issues, promote Israeli technology, and serve as a model for a solution to a possible global energy crisis.

Udi Gat, head of the Eilot region council, said in an interview to Calcalist: "This is an important step in realizing this vision of the “Sun Valley” in the Arava. The Administration of Energy will continue to work and help to promote this important project. Besides the project, our intention is to establish an international center for developing knowledge and technologies in renewable energy."

A central part of the project was initiated by a government resolution adopted by the Ministry of Infrastructure, on making the Timna area an industrial zone which will produce up to 250 megawatts of solar power. The area will include solar thermal power stations, PV facilities, administrative offices, a visitor’s center and a technology center which will include an area for pilots. At the same time, a "technology center" for renewable energy will be established, and it will be designed to promote commercialization of innovative technologies, through placing pilots and accompanying start-ups. Its aim is to bridge the gap between R & D and the existing market in Israeli industry.

Eilot Conference for Alternative Energy

Last week, a global conference in Eilat on the subject of alternative energy was conducted. It was initiated by the Administration of Energy of the Eilat-Eilot region. The conference was meant to present advanced technologies in the area, as well as to link between investors and companies who develop relevant technologies.

Among the participants in the conference was Ted Sokolsky, President and Chairman of UJA Federation of Toronto, who also met with Benjamin Ben Eliezer, Israeli Minister of Industry and Trade for the purpose of future cooperation. The conference was also attended by Lorri Kushnir, chair of Partnership 2000, approximately 12 Canadian business people and 3 representatives of the Canadian Embassy.

UJA Federation has had a partnership with Eilat-Eilot for twenty years and has recognized the potential of the region. About 4 years ago, UJA announced an investment in renewable energy. Lorri Kushnir, who spoke at the conference, explained the deep connection and partnership between UJA Federation, Eilat, and the Eilot region. She spoke about the vision of Eilat’s Mayor Meir Yitzhak Halevi and Udi Gat, head of the Eilot Regional Council, who four years ago created a global network of regional development plans for renewable energy to strengthen the region. She pointed out how UJA Federation of Toronto is proud to be part of the network’s success. Through education and awareness, research and development, commercialization of technologies, forming energy from new resources, creating energy efficiency, and regulation, the region will be strengthened.

Mr. Raymond King, senior manager at the TSX, participated in the conference as a representative of the Canadian stock market. The purpose of his visit was to present the Canadian stock market’s activity and to locate potential Israeli companies who wish to raise funds on a foreign platform. "Israel is a world leader when it comes to the development of advanced technologies, but companies often encounter difficulties during development and fundraising and this is where I see our added value," explained King, adding that "the conference is certainly a wonderful opportunity to introduce ourselves as well as investment bankers in Canada, and there is a good chance that offerings will begin in the coming months to Israeli companies in Toronto."

A warm connection between Toronto and Eilat

"The Conference held in Toronto this week is a continuation of the World Conference that was held in Eilat," said Israel's economic consul in Toronto, Mr. Jonathan Levy, "Exposing the activities of potential Canadian investors is part of a long and warm relationship between the Jewish community, UJA Federation of Toronto, and the residents of Eilat. But even beyond that, because of legislation in Canada promoting new natural sources of energy, there is a great interest among Canadian companies to integrate technologies that can lead to new subsidizing laws. The meeting in Canada is a professional overview for interested companies. Next month a delegation of Israeli companies is scheduled to arrive in order to participate in the largest environmental exhibition in Canada, the Globe 2010, which will be held in Vancouver. The companies will present in an Israeli pavilion organized by the economic mission to Canada."