Israel Active

Israel’s Elbit has acquired Jerusalem-based Rokar International Ltd from the U.S. headquartered subsidiary of BAE (British Aerospace) Systems plc – for approximately $31 million.

Israel’s REE Automotive has extended its partnership with Toyota subsidiary Hino Motors (see in 2019) to include electric commercial vehicles for transporting people and goods.  REE is also partnering French self-driving systems company Navya to develop a level 4 autonomous vehicle system.

Israel’s Foreign Minister and Economy Minister are shortly to fly to Seoul to sign Israel’s first Free Trade Agreement (FTA) with an East Asian country and meet Korean business leaders. The FTA cancels customs duty on all Korean imports and will boost Israeli exports to Korea.

Israel’s Tefen consultancy group (see ), led by Mally Bitzur-Parnes, is to Project Manage the building of an industrial zone in Dubai where the factories will be operated by robots with almost no human contact. Tefen is also bidding on a tender for the construction of a new airport in Dubai.

US chip giant, Intel is to invest $600 million into MobilEye - its Israeli autonomous vehicle hi-tech company. Intel is the largest private-sector employer in Israel.

raised ; raised ; raised ; raised ; raised ; raised ; raised ; raised ; raised ; Unic-Tech raised ; raised ;

Migdal Insurance, Israel’s largest insurance company and pension manager is to invest up to $355 million in Israeli renewable energy company Doral Energy (see ). It includes $110 million for a 20% stake in Doral, $100 million for Doral’s Indiana solar project and $130 million of credit.

Israel’s Gilat Satellite Networks (see previously) has received orders of over $20 million for gateway amplifiers of its Wavestream US subsidiary. These Solid State Power Amplifiers (SSPAs) support communications on Low Earth Orbit (LEO) constellation satellites.

Israeli-founded Jstay is developing a free app for Jewish travelers to find the right place to stay. It differs from AirBNB in that Jstay is geared for people who need specifically Jewish services when they travel such as kosher food and local Jewish communities and synagogues for Sabbath observers.

The new business alliance between Israeli-founded Prytek and Israel’s CRiskCo will provide added credit capabilities to Prytek’s Karbon managed services platform.