The US and Israeli governments will jointly invest in energy projects and technologies that will be used to reduce carbon emissions, The Binational Industrial Research and Development Foundation (BIRD) announced on Tuesday.
BIRD, the foundation founded by the Energy Ministry, Israel Innovation Authority and the US Department of Energy’s Office of Energy Efficiency and Renewable Energy (EERE), announced a new funding cycle for projects in the field of energy.
The new funding cycle will focus on carbon-free technologies that reduce carbon emissions as part of an effort to address climate change and the global climate crisis.
As part of the initiative, all projects funded by BIRD must include joint R&D work done by one Israeli company and one American company.
Projects submitted to the initiative can focus on a range of topics, including solar and wind power, advanced vehicle technologies, alternative fuels, artificial intelligence and many other renewable energy technologies.
"BIRD can assist US and Israeli companies and universities in their search for potential partners," Limor Nakar-Vincent, deputy executive director for business development at BIRD, said.
The US and Israel will invest up to $1 million per project, BIRD stated. To date, BIRD has funded 60 clean energy cooperation projects by American and Israeli companies for a total investment of some $47.5 million.