Energtek to provide pipeless Natural Gas supply throughout Southeast Asia
Israel based Energtek and Confidence Petroleum India Ltd. will form a joint venture to commercialize affordable and environmentally-friendly pipeless Absorbed Natural Gas (ANG) solutions for large automotive fleets and industrial consumers throughout Southeast Asia.
The joint venture will implement Energtek’s proprietary ANG technology in India, Pakistan, Bangladesh, Sri Lanka, and other countries in the region. Confidence Petroleum will utilize its leading industry position as a marketer of commercial alternative energy resources, to penetrate ANG technology into key markets throughout India and Southeast Asia. It is going to invest $2 million and acquire co-ownership of Energtek’s subsidiary Primecyl LLC., which is currently developing pressure cylinder manufacturing plants in Europe. The Joint Venture will incorporate production facilities in Europe to serve the European and Asian pressure cylinder markets.
“Our Joint Venture with Energtek will enable us to become a leading international player in the supply of Natural Gas products, and clean energy solutions," said Confidence Petroleum Chief Managing Director Nitin Khara. "We are witnessing over 50 percent growth in the Asian Natural Gas Vehicle market since 2000, with much of that growth here in India. The introduction of ANG technology through our fertile marketing channels will enable even more drivers and industrial consumers to benefit from affordable, clean fuel.”
“This agreement allows Energtek and Confidence Petroleum to combine the technology, manufacturing, and marketing resources needed to provide a Natural Gas supply solution that is financially beneficial to energy consumers across Asia,” said Lev Zaidenberg, CEO of Energtek Inc. “Together, we can help Asian residents to drastically reduce the harmful pollution emitted by motorcycles, while providing much-needed relief to consumers and low-income drivers suffering from the rising costs of oil and gasoline.”
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Project Better Place Declares Israel as Primary R&D Center
Project Better Place (www.projectbetterplace.com) named Major General Moshe Kaplinsky as CEO of Better Place Israel, where he will lead the world’s first build out of an electric recharge grid network infrastructure for electric vehicles. Better Place also today established Tel Aviv as its primary research and development center to help develop the technology roadmap for mass deployment of electric vehicles.
"I am thrilled that Moshe Kaplinsky has accepted the position as CEO of Better Place Israel," said Shai Agassi, CEO, Better Place. "I’m equally thrilled that Israel will be our primary base for technology innovation due to its engineering prowess. I see enormous strength in our ability to work across borders and tap into great talent pools in the US, Israel and elsewhere as we expand our global footprint. This group will architect the blueprint for others to follow."
As part of today’s news, Better Place also named three partners:
- strategic design firm NewDealDesign of San Francisco will develop the industrial design for the charging stations and other consumer touch points for the grid; and
- Israel-based Aran Research and Development Ltd. and Nekuda DM Ltd. will develop and install the electric vehicle recharging stations in Israel.
"With the partners announced today, we will be sharply focused on executing against the vision set forth in January to move Israel off of oil within ten years," said Kaplinsky. "This is the first step toward implementation of our operational plan for Better Place Israel."
In January, Better Place announced a Memorandum of Understanding (MOU) with Renault-Nissan to build the world’s first Electric Recharge Grid Operator (ERGO) model for clean transportation in Israel (http://www.projectbetterplace.com/renault-nissan-and-project-better-place-prepare-first-mass-produced-electric-vehicles). Under the agreement, Better Place will build the electric recharge grid, and Renault-Nissan will provide the electric vehicles. Next year, Better Place expects to deploy hundreds of charging stations as the company moves toward wide-scale deployment in 2011.
Before joining Better Place Israel, Kaplinsky most recently served as deputy chief of staff of the Israeli Defense Forces (IDF). Kaplinsky is a graduate of the advanced field officers course in the United States, has a Bachelor’s degree in Economics and Business from Bar Ilan University and a Master’s of Business Administration degree with honors from Tel Aviv University. He will report to Agassi.
Better Place Israel is a wholly-owned subsidiary of Project Better Place.
Project Better Place is a venture-backed company that aims to reduce global dependency on oil through the creation of a market-based transportation infrastructure that supports electric vehicles, providing consumers with a cleaner, sustainable, personal transportation alternative. Launched in October 2007, Project Better Place will build its first pilot Electric Recharge Grid in Israel and plans to deploy the infrastructure on a country by country basis with initial deployments beginning in 2010.For more information, please visit www.projectbetterplace.com.
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Israeli Government Authorizes R&D Collaboration Agreement With Renault
As part of The Global Enterprise R&D Cooperation Framework, French car-maker, Renault, has signed an agreement with the Office of the Chief Scientist (OCS) of the Ministry of Trade, Industry and Labor to conduct joint R&D activities with Israeli companies whose technologies match Renault’s strategic development programs.
Renault follows in the footsteps of IBM, Alcatel, Oracle, Deutche Telekom, Microsoft and Merck, which have signed similar agreements with the OCS. According to the agreement, one third of the costs will be handled by Renault, one third by the OCS and one third by the Israeli company involved in the project. This is Renault’s initiation into Israel and its activities will not be limited to electric cars.
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