Toronto’s Stock Exchange Courts Israeli Clean Tech
The Eilat-Eilot International Renewable Energy Conference reports that the Toronto Stock Exchange (the TSX) is looking to develop relationships with Israeli clean tech companies.
The Toronto Stock Exchange offers the world’s largest market for cleantech companies, and the world’s eighth largest stock exchange,according to the release.
Israeli companies, especially hi-tech and biotech companies arewell-represented on the NASDAQ, New York and London Stock Exchanges,but they are yet to establish themselves on the TSX.
Clean technology companies from Israel or by Israeli scientists arenot yet at the stage to be publicly traded, but some companies like thegeothermal energy company Ormat (based in the US) are traded in the US. A past exec from this company split off from Ormat to form his own geothermal company Ram Power, now listed on the Toronto exchange.
“Israel is a world leader when it comes to clean technologydevelopments, however the companies behind these developments oftenhave trouble marketing their technology and raising money – this iswhere we see our added value in any partnerships we establish,” saysRaymond King, a business development manager at the Toronto StockExchange.
“The Eilat Eilot Conference will provide us with a wonderfulopportunity to introduce ourselves to some of the country’s up andcoming companies, and, as we will be attending the event with a seniorlevel delegation of investment bankers and lawyers, there is a goodchance that we will be able to start the IPO process for a number ofIsraeli firms,” he adds.
Under the auspices of the Eilat Eilot Regional Development Counciland the Toronto Stock Exchange, a number of Israeli renewable energycompanies already met with Toronto-based investment bankers and angelinvestors earlier this year. The results led to several offers of IPOsfrom the TSX as well as discussions on joint ventures between theIsraeli companies and counterparts in Toronto, reports the Eilatconference press material.
“We are honored that the Toronto Stock Exchange has taken this firmstep toward supporting clean technology energy development here inIsrael, and we look forward to a productive partnership,” said NoamIlan, Business and Technology Director for Eilat Eilot Renewable EnergyAuthority.
The Eilat-Eilot Conference, organized by the Eilat Eilot RenewableEnergy Authority in association with the Technologies Company, focuseson the latest innovations in renewable energy. Conference participantsinclude internationally-recognized alternative energy companies andspeakers from around the world. Conference organizers expect over 2,000attendees at this year’s event, which happens in February.
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