It looks line the weakening US dollar continues to impact our lives…. At least, this is the explanation for the current record high price. Check out the CNBC video clip on the subject here.
By now, we all know what this means in terms of alternative energy…
The sun is looking brigher every day ;-)
Compare the picture on the right, with the photo on my post regarding Cleantech Meetup #3. What’s the difference? Probably 50 people…
A little over 3 months ago, ICV’s Jonathan Shapira and Gene Dolgin initiated the Israel Cleantech Meetup group. Each meetup being a networking opportunity for Israel’s growing Cleantech community.
Today’s meetup hosted Dr. Isaac Berzin, the founder of Boston-based GreenFuel Technologies. Dr. Berzin discussed his current plans to establish an Institute for Alternative Energy Policy in Israel, as part of the IDC in Herzelia, as well as answer many algae-related questions.
Next meetup will definitely require a microphone.
We all knew if was being discussed. We knew there were major objections and obstacles, and we knew it was near, so, so near, but FINALLY it is here! Of course, I’m referring to the official approved solar feed-in tarrif or 2.01 NIS/kWh, which ~4x the current price of electricity here in Israel.
How will it work? Starting July 1st, when I install a PV system at home, the electric company will buy all electricity generated at the rate of 2.01, guaranteed for 20 years. In the evening (or when there is no sun), we will purchase electricity for the going rate. At the end of the month, a balance is paid (although, I haven’t understood what happens if I’ve generated more electricity that I’ve used – do they pay me???). Essentially, the same principal as Spain and Germany.
So does this make PV installations in Israel economical? According to the government publications, this should adopters a 14% IRR over a 20 year period. So not only the satisfaction of using a renewable, clean resource, but also a worthwhile investment.
Let the sun shine!
…Actually he’s 18 from 1100, and I’m referring to my former partner Adi Pundak-Mintz, one of the chosen 18 for the 2008 Yale World Fellows Program. The World Fellows Program aims to build a worldwide network of emerging leaders and broaden international understanding. Adi will join 17 other accomplished men and women from government, business, the media and civil society organizations representing countries across the globe for a four-month leadership program at Yale.
I was actually going to blog about various ways to pass one’s mid-life crisis, using the Yale World Fellows Program as an example, but changed my mind. It’s the result of a desire to make a difference!
Congratulations Adi!
(English version of Globes article, published in print on May 26th).
It’s been almost 5 months since I have adopted the new position of “ex-VC”. Amazing as it seems, there is an entire universe out there, which I have been actively exploring. But this past week, I spent quite a bit of time hanging out in the same places that I used to, as it is clearly conference season.
From all of the events, I would like to discuss some thoughts following presentations by Al Gore and National Infrastructure Minister MK Binyamin Ben Eliezer. This was the second time that I was privileged to hear Al Gore present the “inconvenient truth”. First time was back in December 2005, when I was a co-sponsor for his Stanford event.
It is difficult to remain indifferent to the compelling data and reality of the world in which we are living. Of course, it is important to change our behavior, adopting energy efficient lighting, driving fuel efficient vehicles and conserving water. But what makes real impact is public policy. Just see what’s happening in
I am puzzled by
Tachles, today we have solar water heaters, old news. We are behind, so very, very behind). I did not hear mention of incentives for installation solar panels like California, adoption of carbon taxes like Norway, nor aggressive feed-in tariffs like Spain or higher taxes for gas guzzling SUV’s, as in China. I sit here in bewilderment. You would think that given
However, the entrepreneurial community is not standing still. It seems that every other person with whom I meet, seeks their next opportunity within the Cleantech world. Innovation and entrepreneurial culture, combined with management abilities, financial backing and this country’s reality, position Cleantech as the next growth opportunity for
There are skeptics that think we’re in a Cleantech bubble. But just look at the state of our Kineret, or check out “Global Warming” on Wikipedia.. The climate crisis is very real, and big. We have yet to see the “Google of Water”, nor the “Cisco of Solar”. There is a real opportunity for Israeli companies here, where not only can we make a difference, but be handsomely rewarded while doing so. Let’s get to work!
This was the subject of an email I received this morning. It’s such an unlikely combination of words – “Memorial Day Greetings”. It’s as unlikely a combination as “Memorial Day Sale” and “Memorial Day Picnic”. As an Israeli, you never quite can understand why do people celebrate on a day designed to commemorate men and women who have died in military service to their country. I suppose just another of the differences between Israel and the Silicon Valley.
Back in December 2005, I had the opportunity to hear Al Gore deliver his now-famous presentation about the climate crisis. It was quite the eye opener. At the time, Al Gore was delivering the presentation, introducing himself as the “former next President of the US” (he still is BTW). Quite a lot has happened since then: Nobel prize, Oscar, and by now, he has delivered that presentation over 2000 times. Today, Al Gore was awarded the Dan David Foundation prize, for the “present" category for alerting the world to the crisis caused by overuse of fossil fuels.
As part of his trip to Israel, Ness Technologies invited Al Gore to deliver his presentation yet again as part of their annual customer/partner meeting “We make IT happen”. I was there, Ness customers were there, and some Israel knesset members were there (together with an estimated 2000 other people!).
It is difficult to remain indifferent following that presentation. From the jam packed David Intercontinental, I continued straight to Airport City for IVA conference Day #2. As I drove into the parking lot, it really bothered me to see all those SUV’s!
When I mentioned this to a former VC colleague of mine who has just recently purchased a new SUV, he smiled, and said “boys will be boys”. Hmmmmmmmmm. (BTW – even Arnold got rid of his Hummer after he saw the movie!
Al Gore’s presentation has so much data, delivering a truly powerful message. As in the TED presentation, he emphasized the importance of behavior change (get rid of the SUV, install energy efficient lighting, etc.), but more significantly, changing regulation.
What would happen if SUV’s were taxed 3X of what they are today, while hybrids tax reduced to 10% (like the proposed tax for ProjectBetterPlace’s battery-powered cars)? What would happen if individuals and corporations had a carbon tax? What would happen if installation of PV on my rooftop would be subsidized, with an attractive feed-in tariff already in place? You don’t have to be a genius to figure it out.
Several Knesset members were in attendance. I wonder if they got the message…
This morning started with Israel’s Cleantech meetup, and continued with Day 1 of the IVA conference. Definitely a busy day for an “ex-VC” like me. For a video of one of his previous gigs (Stanford, Singapore, Mountain View, New York), click here. During Tim’s performance, I was sitting next to a buddie of mine that also spent many years in Silicon Valley. We both looked at each other and pondered how this same performance delivered here in Israel, would feel TOTALLY different when delivered in the US… Yes, culture is culture; not always transferable from one place to another - even if it is only a song. Key points delivered: The last part of Mike’s presentation really drove that last point home, when he discussed Apple. We all know that Steve Jobs was fired, apparently because he required “Adult Supervision”. Adults were brought in (3 different CEO’s actually)… the company almost died. The return of Steve Jobs brought us products that have become such a basic part of our day-to-day. The big question is how did Steve make this transition from what was a “rotten Apple” to where the company is today. The presentation highlighted the following points: Mike certainly touches on a sensitive point for the Israel venture industry. I have blogged about this subject before, and hopefully the mindset of the VC as well as entrepreneur is changing. Presentations like these certainly help to drive the message home. Thanks Mike! The rest of the afternoon was busy with panels, presentations, awards, start-up presentations, and a schmoozfest (which I missed, as I had an important parent meeting back home). But no worries, tomorrow is another day with IVA Day 2, as well as Ness Technologies “We Make it Happen” Summit, featuring (or shall I say staring?) Al Gore. It’s going to be a long week…
Opening keynote by US VC Tim Draper, of DFJ. Tim demonstrated his presentation skills by describing the new type of entrepreneurs that he is seeking, the “super hero’s”, followed by a rock star performance of “Risk Master”. Lyrics by Tim, Music by Mystery Rock Star.
Next up, Mike Moritz of Sequoia Capital, who promised his feet would not leave the ground (or something to that extent…). His presentation, entitled: “Size Matters, How to get it, How to keep it”, discussed what it takes to build enduring, sustaining companies that can grow to be multi billion dollar companies (not those sold for a mere $200,$300,$400M). Using examples from successful companies such as P&G, Walmart, News Corp, Fedex, Nike, Amazon, Intel and Apple, Mike’s presentation was both insightful and inspiring.
Today’s morning started with the 3rd Cleantech Israel “meetup” . The group found a new venue, since it is quickly outgrew Herzelia’s Max Brenner cafe… Each meetup brings new faces, eager to get involved in Israel’s renewable energy, water and environmental technology sectors.
Event speaker this time was Mike Granoff, President of Maniv Energy Capital and an investor in Shai Agassi’s Project Better Place, who gave his perspective on the venture and it’s potential. Personally, I’m a fan!
There is no doubt that the Cleantech buzz (and real activity, not just buzz) here in Israel is growing. We are seeing hi-tech executives venture away from traditional IT industries, into this new field. In my opinion, this is great news. We have technology from the Universities and research institutes, and are now bringing management skills acquired from traditional fields into Cleantech. Growing as well are funding alternatives, although this still lags IMHO.
Thanks again to Israel Cleantech’s Jonathan Shapira and Gene Dolgin for organizing.
Thursday night. 8:45PM. I had a tough choice to make: do I drive ~1 hour to the Holon industrial park (something like south san jose) for a GarageGeeks and Yossi Vardi party hosting guest-of-honor Sergey Brin - or - in my new “ex-VC” mode, do I venture to the local DVD library for a new flick. Obviously, I opted to party. As a former VC collegue of mine told me at the party, “How can I miss an invitation-only event with Sergey Brin?”.
For a video (partial) of the event, check out this blog.
Sergey Brin came to Israel to participate in the Israeli Presidential Conference 2008. Together with a who’s who of participants - it’s rumored that Ben Gurion Airport had never seen as many private jets…
Sergey held the stage until just about midnight… by the time I got home, I was definitely tired. I’m sure he’ll remember his visit to Israel, even though I doubt that he’ll return my emails… even though I now have his personal google email (me and all the rest of the GarageGeeks party attendees 
).
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