Elbit Systems is to establish a new
company based on its in-house developed
energy technology for transportation.
The new company, which has yet to be named, will develop
energy solutions for civilian transportation applications.
An international strategic investor will invest 16 million
Euros in exchange for 20% of the new company's shares and will
grant the new company rights in several of its energy related
The new company headquarters will be based
in Israel and the employees of Elbit Systems Land & C4Iís energy
business unit will be employed by the company.
Bezhalel (Butzi) Machlis, Elbit Systems President, said,
ďElbit Systemsí extensive array of technologies enables us from
time to time, to develop technologies providing solutions for the
commercial market. I expect this company will grow substantially
and develop more energy solutions for civilian transportation
More to come.
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