TechNation: Israel Receives Seven Bids to Build World Biggest Desalination Plant

Meanwhile, JFrog raises $165 million for software-update technology

TheMarker
TheMarker
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President Reuven Rivlin visiting Sorek desalinization facilities, June 3, 2018.
President Reuven Rivlin visiting Sorek desalinization facilities, June 3, 2018. Credit: Mark Neiman / GPO
TheMarker
TheMarker

Israel has received bids from seven groups to build the world’s largest desalination plant at Sorek in central Israel, with a capacity of about 200 million cubic meters of water a year, the Finance Ministry said Sunday. “The new facility, expected to be the largest in the world of its kind, will increase water production in Israel by 25% and help the water system cope with a chronic deterioration in natural water sources in the country,” the ministry said. A smaller desalination facility already operates at the site. The ministry said bids were submitted by Israel’s IDE Technologies, China’s Hutchinson, Israel’s GES, China’s PMEC, France’s Suez, a partnership of Spain’s Acciona and Israel’s Allied, and a partnership of Spain’s Aqualia and Israel’s WPI. When the new facility comes online, Israel’s desalination plants will be able to supply 85% of the country’s household and municipal water usage. (Ora Coren)

JFrog nabs $165 million for software-update technology
JFrog, a U.S.-Israeli startup that helps companies deliver software updates to devices, said Thursday it had raised $165 million in funding in a round led by New York-based Insight Venture Partners. New investors Silicon Valley funds Spark Capital and Geodesic Capital joined in the round together with existing investors Battery Ventures, Sapphire Ventures, Scale Venture Partners, Dell Technologies Capital and Vintage Investment Partners. JFrog, which says it is now valued above $1 billion, said the new capital would be used for product innovation, expansion into new markets and acquisitions. Since it was founded a decade ago, the company had raised $200 million, including $52 million in January 2016. JFrog’s software lets businesses deliver code to users “without impinging on the user experience.” JFrog said that since its last funding round, sales had surged more than 500%, while it now has more than 4,500 customers including Amazon, Facebook, Netflix and Spotify. Half its 400-strong global workforce is based in Israel. (Refaella Goichman and Irad Atzmon Schmayer)

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