Israel Active

Israeli-founded SolarEdge has signed an agreement with Saudi Arabia’s Ajlan & Bros Holding Group Abilitii. The two companies are to “explore investment in renewable energy,” according to the Saudi ministry. SolarEdge’s $14.7 billion market cap makes it one of Israel’s most valuable companies.

Apple is expanding its Israel operations, with a new development center in Jerusalem. The U.S. technology giant already has 2,000 employees in Herzliya and Haifa. Its new site will reportedly focus on hardware and Mac chip development. Apple’s M1 chip was mostly developed in Israel.

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Israel’s is merging with US HUMAN Security for a combined value of . Israel’s has bought Israeli-founded from Singapore Telecom for . Saudi Arabia’s Mithaq Capital now has of the shares of Israel’s Technologies.

Israeli-founded Mobileye has updated tens of thousands of Zeekr electric cars in China with what it calls “one of the world’s most advanced highway assist packages”. It uses Zeekr’s seven cameras to react to sudden braking ahead, a parked car door opening or a pedestrian.

After five years of development, Israel’s Intuition Robotics officially released the ElliQ system (see previously) in the US. The AI robotic companion helps the elderly stay active, connected, and engaged. A study showed lonely 60-year-olds to live 3-5 years less than “never lonely” ones.

Multinational Yahoo! is expanding its Israel operations and its sales relationships with Israeli advertisers. It is currently recruiting positions both Ramat Gan (Tel Aviv) and Haifa centers. Yahoo! has been operating in Israel for nearly two decades, acquiring several Israeli startups.

Good to see that Legends - the Israeli distillery producing the unique Slingshot Kentucky whiskey (see previously) - is getting wider publicity.

El Al have reintroduced six Boeing 777-200ER planes to meet rising travel demand this summer. It also plans to begin direct flights to Japan and Australia now that Saudi Arabia has opened its airspace to Israeli airlines. Meanwhile, International flights from Eilat’s Ramon Airport will begin in August.

The Israel Hotel Association reports June occupancy levels near those of 2019, before the pandemic. In fact, Eilat hotels are even busier than in 2019, as both domestic and foreign tourism are booming. Overall, June 2022 saw 2.1 million hotel overnights, just 5% less than in June 2019.