Israel to Invest NIS 1.8 Billion in Search for Fossil Fuel Substitutes

August 20, 2010 at 8:50 am | Posted in Energy, Israel, Renewable energy, Uncategorized | Leave a comment
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The National council for Economic Affairs of Israel, headed by Proph. Eugene Kandel has put together a programme to promote the search for substitutes of fossil fuel for transportation usage. The Programme includes the establishment of venture capital funds in collaboration with the private sector.

An annual budget of NIS 180 Million will be added to the Ministries of Industry and Trade, Ministry of National Infrastructures and Ministry of Science.

The Israeli company Better Place of Mr Shai Agasi is a world leader in the development of an electric car and more than that, the creation of a national infrastructure to support electric cars with charging points. The company works closely with the Israeli government to put together a policy that will promote the use of electric cars in the Israeli market. Israel is expected to be the first country to establish such an infrastructure on a large national scale.

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