Israel Active

Engineering students at Israel’s Shenkar College of Engineering and Design have developed the Dronet system – 4 network-connected drones to transport loads efficiently. It includes an app to control a drone’s flight path and transport cargo in a safe and stable manner.

Israel’s Nutritional Growth Solutions (NGS) – see previously – has launched its Healthy Heights growth formula in South Korea through a deal with Coupang, Korea’s largest retailer with 18 million customers. Healthy heights helps children ages 3 – 9 reach their maximum height.

Israel’s Amdocs (see previously) reported record revenues of $1.16 billion in the second quarter of 2022 8.8% more than the corresponding period in 2021. It also has a record orders pipeline of nearly $4 billion.

Israeli software company Nice just reported second quarter total revenues up 16.1% to $530.6 million on the same period in 2021. Gross profit for Q2 was $365.7 million compared to $306.3 million last year.

Israeli defense electronics company Elbit Systems has been awarded a $660 million contract to provide intelligence systems to a European country. The contract will be undertaken over four years, plus 10 more years’ maintenance. In June, Elbit Systems won contracts worth $838 million.

French supermarket giant Carrefour is on track to open its branded shops by the end of this year (see previously). Now Dutch-owned international supermarket chain SPAR has also signed agreements to open branches in Israel.

Israel’s Ministry of Economy is providing another NIS 20 million to the Advanced Manufacturing Institute to implement innovative technologies and advanced production methods in factories and improve productivity. It is in addition to funds already allocated to establish the institute.

The first report of DeserTech and Start-Up Nation Central highlights Israel’s strength and potential for tackling desert challenges. More than 300 Israeli start-up companies are developing agriculture, energy, water, and infrastructure technologies geared to or adaptable for desert environments.

Israel’s Innoviz (see previously) revealed that Volkswagen is the carmaker that placed a $4 billion order with it. Innoviz will be the direct LiDAR (light detection and ranging) laser sensor supplier for Volkswagen’s autonomous vehicles.

Israel’s exports of goods and services in 2022 are already up 15% over the same period last year and are projected to reach record high of $165 billion in 2022.  Exports of services are again expected to exceed that of goods.