Israel Active

Japanese insurance giant Sompo and Israel’s Momentick (see previously) will work to cut greenhouse gas emissions from Japanese energy production sources, rigs and gas pipelines. Momentick’s solution identifies and measures greenhouse gas emissions through satellite images.

Israel Aerospace Industries (IAI) has announced an agreement worth $1 billion over five years with an unnamed third party. (Calcalist states that IAI will supply Morocco with an intelligence satellite.) The company expects completion of the deal by 2029.

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Israel’s 3D print company has acquired US 3D print company Desktop Metal for .  

Israel’s Sofwave Medical (see previously) has received approval from Health Canada to commercialize Pure Impact™ utilizing PlyoPulse™ EMS (“Electric Muscle Stimulation”) technology in that region. The system already has US-FDA approval.

A new server farm costing NIS 1.1 billion is being constructed by NED, an Israeli-British partnership in the Poleg Industrial zone of Netanya, Israel. The server farm will extend over 13,500 square meters and is designed to connect to undersea cables that will land in Netanya.

Space Florida, the state’s aerospace finance and development authority, and the Israel Innovation Authority are funding joint space-tech projects involving US & Israeli companies. The Israeli startups:- Purammon (hydrogen electrolysis & water purification), , , and .

Meta is launching AI Accelerator TLV to boost the potential of early-stage Israeli startups with a focus on AI capabilities and products. 10 startups will be selected for the 15-session program, which will run from Sep to Dec 2024. They will be supported by Meta’s AI Research Lab.

European venture capital firm Forestay Capital has closed its second fund at $220 million, with a key focus to invest in Israeli startups and help them expand in Europe. Forestay said, “… we will continue to support Israeli tech innovation in the enterprise AI space for the long run.”

Google is to lease some 60,000 square meters in Tel Aviv's ToHa2 Tower at an annual rental of NIS 115 million. The tower is still under construction – due to be completed in early 2027. It will be the largest office rental deal in Israel’s history, both in terms of space and rental value.