Evogene and Ormat subsidiary receive biodiesel grant
The firms hope to improve oil yield.
Globes' correspondent 20 Dec 07 20:03
Evogene Ltd. (TASE: EVGN) and Orfuel Inc, a US subsidiary of Ormat Industries Ltd (TASE:ORMAT), signed an agreement with the BIRD Foundation (Israel-US Binational Industrial Research and Development Foundation) to obtain a grant from the foundation for financial support of a joint project of Evogene and Orfuel in the field of alternative energy. A principle approval for the grant was obtained on July 25th, 2007.
The parties obtained an approval for a one million US dollars grant from the BIRD foundation, which constitute half of the initial budget allocated to the project. The project is expected to last three years.
