Israel's Ministry of Industry, which up until now has focused on Israel's lucrative biomedical, nanotechnology and hi-tech ventures, will now prioritize development of clean technologies, "cleantech."
Motivated by Israel's ongoing water crisis and interest in improving pollution and greenhouse gas emissions ratings, Minister of Industry, Trade, and Labor Binyamin Ben-Eliezer (Labor) has charged Israel's Chief Scientist Dr. Eli Opper and Investment Promotion Center Director Hezi Zaieg with prioritizing development of clean technologies. So reports the Globes business magazine.
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The decision will impact funding applications, and will prioritize and maximize grants for water solutions, carbon storage, energy saving and renewable energy projects, as well as recycling.
Israel has already demonstrated itself to be an up-and-coming cleantech developer. The United Nations recently recognized the Jewish state as the world leader in water recycling.
A May 2009 Businessweek article entitled "Israel's Clean Technology Pioneers" emphasized various cleantech businesses which have caught the eye of U.S. venture capitalists, including a geothermal energy plant, solar technology works, and a desert fish farm using recycled spa water, which then channels the used water to an olive grove.