Israel is loudly announcing its place inside the global climate solution sector during COP27 in Sharm el Sheikh, Egypt. Israel brought 10 startups to represent its climate tech marketplace, all housed in the primary Israeli pavilion. The businesses span different silos of the climate tech sector, from alternative protein production to scrub energy systems to waste mitigation solutions.
The journey to COP27 began earlier this 12 months when the Israel Innovation Authority (IIA), an independent publicly funded agency, and PLANETech, an NGO working to attach and grow Israel’s climate tech community, held the country’s inaugural climate tech conference, PLANETech World, in Tel Aviv. Lots of of Israeli firms presented their ideas and products to investors largely based in firms abroad.
Dror Bin, CEO of IIA, told GreenBiz that 100 firms competed for a spot to represent Israel because the delegation to COP27 and 10 were chosen — H2Pro, GenCell, Remilk, Aleph Farms, Groundwork BioAg, Tomorrow.io, Beewise, UBQ Materials, Wiliot and HomeBiogas. Each startup had to satisfy a multifaceted set of criteria to secure placement, equivalent to current and potential climate impact, ease of scalability and team leadership and variety.
Bin is worked up to point out the world that his nation can sustain with established climate tech hubs, equivalent to San Francisco and London. “One out of each seven latest startups founded in 2021 in Israel was engaged within the climate tech domain,” Bin declared.
But he recognizes that there remains to be lots of room for growth. “There are currently not enough investment entities in Israel specializing in climate tech,” Bin said, referring specifically to enterprise capitalists. His hope is that sending a cohort of 10 technically impressive and diverse examples of Israel’s climate tech entrepreneurship will reveal that Israel is a rustic ready for international investment and cooperation.
Rachel Barr, UBQ Materials’ VP of sustainability, agrees. She eloquently laid out her company’s goal for COP, explaining that UBQ provides a singular solution — converting diverted waste from landfills into bio-based thermoplastic material — that might be deployed within the waste sector to assist countries meet their methane pledges and national commitments. “We’re keen to assist develop an environment where UBQ and firms like us have the capability to develop and succeed, and that requires firms, countries and NGOs to think about the relevancy of startups having a seat on the table, to be a deliverer of solutions,” Barr said.
Director of PLANETech Uriel Klar emphasized that the ten firms chosen not only represent Israel, but its potential to contribute to the worldwide climate tech sector. “Eighteen months ago, climate tech was not a thing in Israel, and today there are 700 startups and a record of $2.5 billion in investments,” said Klar.
This trend was recently noted in a worldwide study, “Scaling Climate Tech,” released by Endeavor Insight and HSBC. The report recognized Tel Aviv as a growing center for global climate tech alongside its established peers in Berlin, London and Silicon Valley. Israel selected firms equivalent to Aleph Farms, an alternate protein production startup focused on lab-grown beef production, and its dairy counterpart ReMilk to attend COP27 before the report officially named Israel’s meat alternative sector a “subsector to look at.”
Bin believes Israel’s burgeoning climate tech market can use COP27 to capitalize on the worldwide interest in climate mitigating technological innovations. But his demeanor is anything but cynical. Bin affirms that when many minds come together to resolve an issue, then we still have a likelihood, “I firmly imagine that saving our planet’s future remains to be within the hands of mankind.”
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