Alstom launches clean-energy incubator in Israel
Alstom has teamed up with Rotem Industries Ltd and Gefen Biomed Investments — two Israeli firms specialising in cutting-edge technology — in creating a joint venture to finance and support the growth of innovative startups in the field of renewable and alternative energy and energy-saving technologies.
Alstom will have a 50-per cent share in the joint venture, named Horizon, with Gefen holding 30 per cent and Rotem 20 per cent. The new company will be based in Dimona, in the south of Israel. Horizon is due to begin operations in April 2011 and aims to finance some ten business-incubation projects in three years.
Alstom chose Israel because the country already has one of the world’s most advanced technology industries in renewable and alternative energy sources. The initiative is also in line with Alstom’s global innovation strategy and complements other recently acquired business interests designed to position the company in innovative energy sectors, such as concentrated solar power and grid stability.
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