Greentech 2024 Conference: Green Horizon, the importance of green energy

Last week, the Knesset Finance Committee approved a carbon tax decree that will gradually increase the price of non-transportation fuels until 2030. Dorit Bennett, founder and former CEO of Eilat eilot, estimates that the new decree will help the country and the economy: “The carbon tax, which was approved by the Finance Committee last week, will accelerate the country’s transition to green energy. The tax will encourage companies to switch to clean fuels.

In Europe, a progressive carbon tax will be imposed on imports of products such as fertilizers, iron, cement and others from 2025. These taxes in Israel and around the world will gradually increase each year. Starting in 2025, the state will provide subsidies to industries to move towards clean fuels, carbon capture and energy efficiency. Developers and entrepreneurs looking for the next big thing in tech should check out the field with the greatest global potential. It is time for the industry to learn, invest in pilots and innovations to be ready for the transformation. It is important to note that hydrogen is still expensive and the market depends on technological development and demand.

Bennett will moderate a session on hydrogen at the Greentech 2024 New Horizon conference and exhibition, which begins tomorrow (September 17-18 at the Nation Buildings in Jerusalem). The session is expected to be one of the main focuses of the conference. Hydrogen is one of the leading alternatives in the field of future clean fuels.

The hydrogen session will outline the need for Israel to begin researching and implementing the entire green hydrogen value chain on a small scale, so that it can become a significant technology player in the world. This knowledge will enable green hydrogen production and its use in about a decade, when prices fall, and will provide an answer for areas that currently have no other clean answer. In addition, the country will know how to transport hydrogen from Arab countries to Europe in line with the European strategy for hydrogen imports from Arab countries and North Africa.

The session will be attended by: Michal Koplik – founder and technology director of Naki, Yair Korenblit – founder and president of the board of the Maygia company producing swamp oil, Asaf Sayada – CEO of Hydro X, a company developing hydrogen storage fluid, Meshi Lax – Director of Innovation and Policy, Strategy Department, Ministry of Energy, Jonathan Floersheim – Energy Coordinator, Budget Department of the Ministry of Finance and other senior officials.

The green hydrogen market is expected to reach a financial volume of up to $450 billion in 2030 and a volume of $850 billion in 2050 (according to the Electrolyzer Procurement Market Study). This huge scope reflects the decision of the Western world to switch to the use of green hydrogen to prevent global warming and reduce the use of polluting fuels while continuing economic activities.

This approach motivates various international decisions, among them: carbon taxes, fines and economic mechanisms that encourage partnerships, R&D investments and the establishment of demonstration centers at various scales throughout the value chain from clean hydrogen production, processing, storage, sea and land transport and dozens of other applications in the modern world: industry, ammonia production, heat, steam, fuel cells and others. Hydrogen has the potential to replace polluting fuels with clean fuels in areas such as heavy transport, industry, trains, long-term energy storage and of course clean electricity generation.

The major companies that will be presenting at the conference, along with some 22 hydrogen and carbon capture start-ups in Israel, are at various stages of development of their solutions in several areas of the relevant value chain: production, various types of storage, refueling and end-consumer applications. Among the major industrial companies interested in investing and promoting this field, we can mention ICL, Dead Sea Enterprises, Sonol Company, Taavura Company, Blilious Company and ingl, which could lead Israel to a zero-emission future in 2050, and perhaps even sooner.

Rotem AradBusiness Development Manager at H2PRO: “Israel, known as a powerhouse of innovation, is once again proving its groundbreaking capabilities – this time in the field of clean hydrogen. Just as we led the revolution in cyberspace and high-tech, Israeli startups are putting us at the forefront of global clean energy solutions. Our geographic location and technological capabilities give Israel the potential to become a central hub for regional and international cooperation in this field. These developments not only reduce our dependence on polluting fuels, but also strengthen our position as a key player in the global fight against climate change, while strengthening economic and strategic ties around the world.”

Greentech 2024 Green Horizon will present the critical importance of green energy for the future of humanity and the future of Israel, and the economic and technological opportunities associated with it. Lectures and sessions will reveal the current picture of green energy production using various methods such as wind, solar, ocean waves and others, energy saving and optimal energy management technologies, energy storage and transmission, technologies for planning, management and control of distributed energy sites, and a long list of other topics. The conference will include an exhibition where startups will present new technologies that are changing the rules of the green energy game.

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The two conference chairs are: Dr. Moshe Zilberman, director of the Green Energy Center at the Azrieli College of Engineering in Jerusalem, and Amos Lasker, CEO of EnergyCom Community and former CEO of the Electric Company.