The Israel Innovation Authority (IIA) announced on Sunday a new fund to support research and development of marine-focused energy solutions, with an initial NIS 6 million invested in what the IIA calls “Blue-Tech Energies.”
The investment was made by the IIA in colaboration with the Energy and Infrastructure Ministry in a push to “promote a new generation of Israeli innovations in renewable energy technologies for the marine environment,” the statement by the IIA said.
The objective is to invest in projects focused on offshore renewable energy generation and artificial intelligence-powered marine energy management systems.
The initiative consists of NIS 6 million in investments, NIS 3 million of which will be drawn from the Israel Citizens Fund of the Energy Ministry.
“Israel benefits from a unique combination of scientific excellence, entrepreneurship, and a world-class technology industry, and this new call for proposals is designed to harness those strengths to develop a new generation of marine energy technologies,” said Dror Bin, CEO of the Israel Innovation Authority.
“Through our collaboration with the Energy and Infrastructure Ministry, we seek to transform high-quality research into applied innovation, strengthen collaboration between academia and industry, and reinforce Israel’s position as one of the world’s leading nations in the development of advanced energy solutions,” he added.
According to the IIA, the project will fund applied research that advances the sustainable development of Israel’s marine environment while enabling the development and commercialization of innovative Blue-Tech Energy technologies as part of Israel’s broader energy and climate objectives.
“We are working to harness our marine resources to develop green, clean energy solutions that will strengthen our energy security and expand the use of renewable energy,” said Energy and Infrastructure Minister Eli Cohen.
“We will continue investing in groundbreaking Israeli innovation and increasing clean energy production for the benefit of the health of Israel’s citizens and to reinforce the country’s energy security,” he added.
The program will be available to any company or research center developing technologies in this sector, with another key objective of improving collaboration among academia, industry, and the government.
“We receive true treasures from the sea, and now we are giving back through marine research and the development of innovative technologies. I am grateful for the opportunity to contribute to the people of Israel,” said MK Nissim Vaturi (Likud), Chairman of the Committee for Oversight of the Israeli Citizens’ Fund.