January 19, 2022

Doral Energy-Tech Ventures Announces Monumental Investment in the Technion

Doral Energy-Tech Ventures (Doral-Tech), Doral Energy Group’s innovation and investment arm, announced it will invest in Technion projects in the fields of renewable energy, energy storage, and climate studies.

The Technion has established, in large part thanks to generous donors such as Stephen and Nancy Grand, a unique research infrastructure for various energy projects. The new venture with Doral allows the Technion to reach its full potential through collaborations with one of the key players in this sector.

Doral Tech will invest in various technological projects, including renewable energy, energy storage, agro-solar (integration of agriculture and solar energy), hydrogen production, carbon capture, waste treatment, water, and environmental infrastructure. Doral Tech will also support several Technion initiatives on campus, including the Nancy and Stephen Grand Technion Energy Program (GTEP), the Technion DRIVE Accelerator, and the Technion Technology Transfer Unit (T3). Technion researchers will gain access to Doral’s testing facilities in order to advance selected projects and exposure to markets in Israel and abroad, while Doral will award scholarships to Technion graduate students.

The new partnership is a watershed moment for the development and promotion of the local ecosystem of startups and innovation in the fields of renewable energy, climate, and environmental infrastructure. Said Roee Furman, CEO of Doral Energy-Tech Ventures: “The Technion has world-renowned researchers, as well as some of the most advanced laboratory infrastructure in the world. This engagement with the Technion will provide Doral with additional and unique opportunities for entrepreneurship, locating and investing in breakthrough technologies, and strengthening its position as a pioneer and leader in its field.”

To stay competitive, the Technion has prioritized building strong relationships with industry leaders as a way to enhance the academic experience for students, augment its own research capabilities, and support collaboration in pursuit of the global good. The partnership with Doral is the first step in establishing a broader network of cooperation with energy companies and government bodies engaged in the field.