Midwest Research Institute, Rotem Industries Form Renewable Energy Center.
Midwest Research Institute (MRI), a US-based not-for-profit organization, and Rotem Industries Ltd, an Israeli-based diversified technology-oriented company, yesterday announced they will jointly establish a Renewable Energy Technological Center (RETC) in the Rotem Industrial Park located in Dimona, Israel.
After two years of evaluating the potential for new technology development in the fast-growing renewable energy sector in Israel, MRI and Rotem will leverage their collective scientific and technological expertise and utilize RETC as a center to identify, evaluate, and support the development and commercialization of promising new technologies for the global marketplace.
"In Israel, MRI has found innovative technologies with commercialization potential that will advance new renewable energy applications in the marketplace," said Roger Starnes, MRI Group Vice President of Strategic and Emerging Program Development. "MRI's and Rotem's capabilities complement each other and by working together through the Center we will be able to accelerate the advancement of these technologies."
Also included in the agreement, MRI and Rotem will collaborate with TASC Capital, a leading Israeli venture capital firm, to invest in promising renewable energy technologies.
MRI and Rotem are responsible for organizing and managing the Center, with Rotem providing the facilities and MRI providing expertise in the technical screening and evaluation of potential projects. It is anticipated the Center will be ready for operation in January 2009.
MRI, headquartered in Kansas City, Missouri, performs contract research and laboratory consulting services for clients in government, industry, and academia. Established in 1944, it conducts research in the areas of national security and defense, energy and environment, life sciences, food and agriculture, and transportation safety. For more information, visit www.mriresearch.org
Rotem is a diversified technology-oriented company with headquarters in the south of Israel. Rotem specializes in evaluating seed technologies, bringing them to market readiness and commercializing the resulting products. For more information, visit www.rotemi.co.il
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|Date:||Dec 18, 2008|
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