Reversible fuel cell technology is the focus of a newly launched company, Refhuel.
BIRAD, a research and development company affiliated with Bar-Ilan University in Israel, and Refhuel, a subsidiary of Israeli investment firm Decama Capital, signed a license agreement to use the technology.
Professor Lior Elbaz of Israel’s Bar-Ilan University has been working on reversible fuel cell technology, which is already in development. Fuel cells expert Professor Lior Elbaz is based at Bar Ilan University’s Department of Chemistry and heads the Israel Fuel Cells Consortium.
Fuel cells based on Refhuel’s reversible hydrogen carrier technology will allow for efficient energy storage and production. Decama Capital, a private equity firm specializing in renewable energy investments, has announced that it is expanding and exploring new investment opportunities.
Professor Lior Elbaz, Co-Founder of Refhuel and Associate Professor in Chemistry at Bar-Ilan University, Israel, said: “I am really excited to have reached this point. We have passed the proof of concept stage and, in time, the technology has the potential to revolutionize energy storage and production. The world is looking for affordable, sustainable energy and this technology promises to help deliver this.”
Dr. Tsvika Ben Porat, CEO of BIRAD, said: “The signing of the agreement with Decama Capital subsidiary Refhuel represents the latest example of BIRAD’s work translating the exciting research at our university into a commercial opportunity. Professor Elbaz’s work and innovation has the potential to change the way we store energy. It’s an example of not only Bar Ilan’s excellence but Israel’s leading position as a tech nation.”
Nate Lorenzi, Co-Founder of Refhuel and CEO of Decama Capital, said: “We are delighted to come together with Bar-Ilan University to launch Refhuel. Professor Elbaz is a world leading figure and his research will have a transformational impact. Energy supply and climate change are challenges facing every nation. As we move towards renewables, we face the problem of energy storage. The technology we are developing at refhuel has the potential to be the solution to this. This Is a landmark event for Decama Capital and we look ahead to have a great success with Refhuel.”
