Seven climate-tech startups have been awarded over $2 million from a new prize fund to encourage innovation.
Marine Edge, which optimizes fuel consumption and carbon emissions for ships, and SolOr, which develops paints for buildings that can absorb solar energy, were among those who won, after completing a series of challenges.
Three Israeli scientists also won grants for their breakthrough research, which included the development of sodium ion batteries as a more environmentally friendly energy storage system.
The Climate Solutions Prize, founded earlier this year, is the most comprehensive initiative established to support research and innovation addressing the climate change crisis. It grants over $2 million in prizes to incentivize innovation among startups and researchers.
It culminated in last week’s Climate Solutions Prize Festival, a gathering of government, business, and non-profit organizations dedicated to driving innovation in the climate-tech ecosystem.
“As a recognized leader in developing advanced solutions to global challenges, Israel is extremely well-positioned to take a central role in battling climate change and bring solutions to the biggest shared challenge of our times,” said Jeff Hart, Executive Chair of the Climate Solutions Prize.
“I could not be more excited to see this dream come to fruition of supercharging the ingenuity of Israel, the Start-up Nation, to help solve the climate crisis.
“I am so thankful to everyone involved for helping with this critical initiative for our future generations.”
Start-Up Nation Central CEO Avi Hasson said: “Israel is currently home to more than 700 technology companies that are already developing solutions for addressing climate challenges, including sustainable food systems, circular economy, clean energy, efficiency and storage, sustainable mobility, sustainable manufacturing, nature protection, and many more.
“As a recognized leader in developing advanced solutions to global challenges, Israel is extremely well-positioned to take a central role in battling climate change and bring solutions to the biggest shared challenge of our times.”