Greenearth Energy (ASX: GER) has received a trade award from Israel’s Ministry of Trade and Labour in recognition of the company’s outstanding contribution to the forging of international trade links with the country.
The award ceremony was held in Melbourne last night and was attended by Dr Uzi Landau, Minister for National Infrastructure for the State of Israel, Ehud Gonen Israeli trade Commissioner to Australia, and Leon Kempler OAM, National Chairman of the Australia-Israel Chamber of Commerce.
Total trade between Israel and Australia rose to $715 million in 2010, an 18.7% increase on the previous year, according to official statistics.
Greenearth Energy contributed to this trade through its strategic positioning across the broader renewable energy and energy efficiency sectors and the introduction to Australia of several world class Israeli clean energy technologies.
Managing Director of Greenearth Energy, Mark Miller, said “our diversification strategy to date has been underpinned by the partnerships we have established with Israeli clean technology developers.
“We are confident that our Israeli technology partnerships combined with emerging renewable energy and energy efficiency opportunities both domestically and within our region will deliver positive outcomes for all stakeholders.”
HID energy efficient lighting
In October 2010 the company announced a strategic partnership and commercial distribution agreement with Israel based Metrolight, the leading manufacturer of smart High Intensity Discharge (HID) energy efficient lighting solutions for the commercial, industrial, retail and street lighting sectors.
Metrolight was established in 1996 and has accumulated over 2 billion energy efficient operating hours with over 500,000 systems installed worldwide.
Greenearth Energy, by way of its dedicated energy efficiency subsidiary, Greenearth Energy Efficiency, recently commissioned installations at Diageo Australia and Ambulance Victoria with the latter delivering an annual estimated energy efficiency saving of 65%.
This result will pave the way for more applications in a variety of settings such as hospitals, fire stations, warehouses, offices, retail, museums, art galleries, schools and universities.
ZenithSolar technology
Later in 2010 Greenearth Energy announced the establishment of subsidiary company Greenearth Solar Energy and the partnership with Israel’s ZenithSolar, developer and manufacturer of the world’s most efficient Combined Heat and Power (CHP) solar technology the ZenithSolar Z20.
Greenearth believes the technology has the potential to efficiently deliver the dual benefits of emissions free power and hot water to a wide range of customers throughout Australia and the wider Pacific region.
The companies have joined forces to deploy in the City of Port Melbourne a ZenithSolar Z20 demonstration during the second half of 2011.
Co2 to fuel project
In addition, on June 30 2011 Greenearth Energy announced that it had successfully concluded negotiations with Yeda Research and Development Co. Ltd., the commercial arm of Israel’s Weizmann Institute of Science, for an exclusive, worldwide Research and Licence Agreement for a revolutionary technology that has the ability to convert CO2 emissions into fuel.
This will be assigned to an ultimate subsidiary company NEWCO2FUELS LTD. The company believes that this technology breakthrough has the potential to be a viable alternative to CO2 geo-sequestration and shift our thinking and approach on the global CO2 emissions challenge.
Geothermal projects
Greenearth has also recently reaffirmed its commitment to developing its suite of Victorian geothermal assets following the announcement of the Australian Government’s $126 million Emerging Renewables program.
The company said the new program will pave the way for Greenearth to seek more flexible funding arrangements for its Geelong Geothermal Power Project (GGPP).
Greenearth is also seeking to conclude its current negotiations with the State Government in regards to its $25 million Energy Technology Innovation Strategy (ETIS) grant for both exploration and demonstration stages of the GGPP.
In addition, the company is assessing geothermal project opportunities through a joint venture in Indonesia.
