In Europe, German utility, RWE is seeking to invest in Israeli technologies to expand its global business and provide added value to its customers.
RWE Israel Innovation general manager, Mickey Steiner, said that it was looking for to invest in ‘holistic management technologies’ that will facilitate the smart management of electricity networks in Europe.
Local Israeli news source, Globes reports RWE’s innovation manager will be visiting Israel next week to conduct the first round of meetings with potential Israeli investors.
Steiner said: “Israeli entrepreneurs are not always aware of Germany’s potential as a target for commercial, industrial, economic, and technological cooperation.
“RWE’s new focus in new areas, which is related to its current business, is a golden opportunity for entrepreneurs and companies with technologies concerning the relevant areas”.
Israeli technology to propel RWE forward
Steiner added that the Essen-based RWE would like to invest in technologies that will enable flexibility in its network to allow for the modern energy consumer, that can buyer and seller of energy.
Steiner: “There are many sellers and buyers, and a customer can also be a buyer for another company.
“In effect, electricity in Europe is a commodity; in other words, at any given time, a company can buy electricity and sell it to someone else. We’re looking for technologies that will enable us to manage electricity in this situation.”
In addition to smart grid technologies, such as smart meters and smart home energy management devices, RWE is looking to invest in cyber security, energy storgae and electric vehicle technology.
Leveraging Israeli defence technologies
A Canadian electricity company is set to become the first international energy supplier to use an Israeli grid monitoring system that has been adapted from a defence system. The agreement will see Canada adopt Iron Dome technology.
Developed as missile defence system, which calculates the risk of incoming rocket fire to civilian targets and only fires when there is risk, Iron Dome has been adapted for use in the energy sector.
Rafael Advanced Defense Systems, an Israeli defence technology company, through its subsidiary mPrest, developed the Iron Dome’s control system, and partnered with the Israel Electric Corporation to use the technology for its information grid, using the same algorithms to help monitor and control the electric grid.
Natan Barak, CEO of mPrest, said: ‘Similar to its ability to meet the ever changing threats encountered by the Iron Dome, Israeli Electric Corporation can tailor the system to its unique dynamic methods and various sensors and changes required.’
The partnership was made possible through a new fund called the Canada-Israel Energy Science and Technology Fund (CIIRDF). Henri Rothschild, president of CIIRDF commented: ‘[Iron Dome] has the potential to change grid management in North America and beyond.’