Headlines related to the Eilat Eilot Renwable Energy Conference dominated this past week. Israel Cleantech Ventures filed with the SEC that it is about half way to raising $100 million and the cities of Jerusalem and Chicago formed an environmental partnership. In the IT sector CSR bought Israeli imaging and video technology company Zoran for $679 million. For these stories and more, see this week’s headlines below.
Cleantech
1. The Holy City & The Windy City To Form Historic Environmental Partnership
“We need mammoth human collaboration in order to surmount our global environmental problems. And let’s face it, we have a few of those: coral reefs potentially a thing of the past by 2050, oil set to peak just as the demand for it increases, and water- the source of all life – already a luxury commodity in places like Yemen. But it isn’t over till it’s over. In recognition of their numerous challenges, but determined to overcome them, two cities are planning to create mutual solutions. Chicago and Jerusalem will soon announce their new “green” friendship…”
2. Israel and Poland sign agreement on water, energy (Roundup)
“Israel and Poland signed a joint declaration of cooperation on water supply and sustainable energy technology Thursday, as the two countries held a joint cabinet meeting that Israeli premier Benjamin Netanyahu said would strengthen ties…”
Investment and Economy
3. Israel Cleantech Ventures Raising $100 Million for Energy Innovation
“Israel Cleantech Ventures, the tiny but talented nation’s first cleantech-focused fund, is now more than halfway to raising a $100 million fund, according to a filing this week…”
4. CSR buys Israel’s Zoran for $679m
“The British company CSR has agreed to buy Israeli imaging and video technology leader Zoran in a $679 million all-share deal. The sale is expected to be completed in the second quarter of 2011…”
5. 4 Israeli Firms Headed to $1 Billion
“A $1 billion market capitalization is the dream of every entrepreneur who makes it to an IPO. Generally, the entrepreneur begins dreaming of that target after the company first passes the milestone which is considered the most difficult on that path — sales of over $100 per year…”
Information Technology
6. MoMonis Mobile Game Development Studio Launched
“Last June, TheWadi published an article about MoMinis, a promising start-up that was busy creating a mobile game development suite that would enable those who lack special programming skills to create, convert and market cross platform mobile games. Well, the wait is over, and MoMinis Beta stage has matured into a publicly available offering…”
Miscellaneous
7. Palestinians turn to technology to avoid roadblocks
“Adopting an attitude of “If you can’t beat’em, go around’em,” Palestinian computer programmers have developed a simple text-messaging system to help cope with surprise or crowded checkpoints set up by the Israeli army across the West Bank…”
8. EZchip Could Be an Acquisiton Target for Marvell: Analyst
“Israel-based EZchip Semiconductor Ltd. (NASDAQ: EZCH) is an acquisition target for a handful of communication integrated circuit companies and could be a logical fit with Marvell Technology Group (NASDAQ: MRVL), an analyst at Benchmark Capital wrote in a note to clients…”
9. Citi sees $5b gas revenue for Israel
“Citi Global Markets analyst David Lubin predicts a rosy future for Israel. He says, “Gas could eventually contribute about $5 billion per year to Israel’s balance of payments, at current prices…”
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