Israeli high-tech companies raised $1.6 billion in 131 deals during the third quarter of this year, the IVC Research Center reported Monday.
“While the amount invested was comparably high, there were fewer deals compared with the last quarter,” the center said.
“Only one mega-deal was recorded in Q3/2018 – Trax Solutions raised $125 million, equal to 8% of the total amount raised in the third quarter.”
According to the report, Israeli high-tech companies have raised $4.5 billion through September. While the number of deals so far this year was equivalent to 68% of the total deals, the amount of capital raised “equalled 82% of the total raised in 2017,” IVC noted.
Seed deals slowed down during the third quarter, when only 21 were recorded. That figure represents the lowest number since 2013, IVC said. (TheMarker)
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Australian-Israeli startup says it developed fuel mostly made of water
Australian-Israeli startup Electriq~Global, formerly known as Terragenic, said Monday that it had developed a fuel that is safe, cheap and clean.
“Comprised of 60% water, Electriq’s revolutionary technology extracts hydrogen from the water based fuel, which is then harnessed to create electricity to power the vehicle,” the company said.
Its system reportedly contains three key elements: the liquid fuel, which reacts with a catalyst to release hydrogen on demand; the spent fuel, which is captured and taken back to a plant where it is replenished with hydrogen; and water for re-use. The company said this process enables “zero emissions vehicles.”
Electriq~Global says its fuel will achieve “twice the range at half the cost” compared to “green energy competitors like lithium-ion batteries or compressed Hydrogen technologies.”
It added: “The energy density is up to 15 times that of electric batteries currently in use in vehicles like those of Tesla.” (TheMarker)