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The Tel-Aviv Stock Exchange (TASE: TASE) is holding its first visit to Paris this week, accompanied by leading Israeli public companies. At the heart of the visit: exposing the business community in France to Israeli innovation and discovery of the opportunities that France represents for the Israeli companies' development in Europe.
The visit, which started yesterday, will continue through Thursday, October 21st. The visit was organized in partnership with the Business France agency, illustrates the progress of economic relations and the development of investments between France and Israel.
The Israeli delegation, led by TASE CEO, Ittai Ben-Zeev and several CEOs of companies listed on TASE will meet French economic and political figures: the economic development agency of the Ile-de-France region, Paris Europlace, as well as other institutional and private players in the sphere of finance and investments. The delegation will also meet with Filip Engelbert, Macron's Business and Export Advisor, at the Élysée Palace.
Among the Israeli companies of the delegation in Paris: ElectReon, which has developed a system to charge electric vehicles (EVs) in motion with copper coils laid under the asphalt, Aquarius, which is engaged in the development, manufacturing and sale of internal combustion engines and generators, Glassbox, a leading SaaS company that provides solutions for the analysis of customers' actions on digital channels (mobile websites and apps), Gencell, which has developed a technology for the generation of electricity using hydrogen and ammonia and is currently developing energy storage in the form of green ammonia, Trucknet, which has developed a unique automated platform for the optimization of freight for companies that manage vehicle fleets, Nofar Energy, a renewable energy company that is engaged in the initiation, construction, and operation of systems for the production of electricity from solar energy, and Strauss Group, one of the leading food and beverage companies in the Israeli market.
Ron Klein, Adv. Director of the Business Development Division at the Israel Securities Authority (ISEA) joined the delegation, to promote the shared interest of attracting global investors to the Israeli capital market.
Ittai Ben-Zeev, CEO of TASE, said: “I am delighted to have the Tel Aviv Stock Exchange lead for the first time, a delegation that builds a bridge towards the advancement of the business relations with France. France has a primordial place in Europe and a long history as a global economy leader. This, alongside the reforms that are being instituted by President Macron, lay the ground for a fertile cooperation between the companies and the investors. As home of the Israeli economy, TASE looks forward to further development of economic relations outside Israel and makes it a priority to expose Israeli technology companies, which naturally gravitate towards the U.S. market, to this substantial market in Europe."
Significant growth in trading between France and Israel
The volume of France-Israel trade increased significantly in 2019 (+ 6.8%) to reach a record of EUR 2.84 billion. As a reminder, it only grew by 2.1% per year on average between 2008 and 2018 and even contracted in 2018 by 5.8%. France is the 5th destination country for Israeli investment projects in Europe with just over 4% of Israeli investments.
The presence of Israeli companies in France is estimated at around 60 employing 3,000 people (including: Teva with 350 employees, Delta Galil with 600 jobs, Alrov with 400 jobs). 70% of the establishments of Israeli actors in France are concentrated in the Paris region. With an import volume of EUR 1.31 billion in 2019, Israel is France's leading supplier among the countries of the Middle East.
In 15 years, investments made by French companies in Israel have accelerated and have been multiplied by almost four. The stock of French FDI in Israel now stands at 2.9 billion EUR, of which nearly 2 billion EUR is in the real estate sector alone. There are 104 subsidiaries of French companies in Israel. They employ 5,600 people and generate a turnover of close to EUR 1 billion.
Examples of Israel-France cooperations
- MyHeritage in France
https://blog.myheritage.fr/2021/08/myheritage-va-acquerir-filae/
- Delta Galil in France
https://www.deltagalil.com/content/Index/112 - Teva in France
https://www.teva-sante.fr/about_teva_health/article-pages/teva_health_in_france/
- Soon opening of the "Margalit Startup City" International Innovation Center in Paris
https://www.jvpvc.com/press-releases/entrepreneur-investor-erel-margalit-chairman-jvp-margalit-startup-city-met-french-finance-minister-bruno-le-maire-leading-technology-innovation-figures-elysee-palace/
- Lab Renault in Israel
https://www.renaultgroup.com/groupe/implantations/open-innovation-lab-tel-aviv-2/ - Faurecia in Israel
https://www.faurecia.com/newsroom/faurecia-inaugure-tel-aviv-sa-nouvelle-plateforme-technologique-dediee-la-cybersecurite
- STMicroelectronics in Israel
https://www.st.com/content/dam/stupacc/ST-Up-2020-NF.pdf - Beach Bum acquisition by Voodoo
https://business.lesechos.fr/entrepreneurs/racheter-fusionner/0700033517065-voodoo-rachete-beach-bum-pour-pres-de-300-millions-de-dollars-345266.php
Among the Israeli companies of the delegation in Paris
Mobility Industry
Founded in 2013, ElectReon has developed a system to charge electric vehicles (EVs) in motion with copper coils laid under the asphalt to transfer energy from the power grid to the road and manage communication with approaching vehicles. Receivers are installed on the floor of vehicles to transmit energy directly to the engine and battery while vehicles are in motion, eliminating issues of limited range and short battery life.
Project in Europe:
https://www.eurovia.com/media/14591895/eurovia_electreon_karlsruhe_cp_26112020.pdf
Energy Industry
Gencell has developed a technology for the generation of electricity using hydrogen and ammonia and is currently developing energy storage in the form of green ammonia. This new way of producing energy without any external power supply is 10 times more efficient than other solutions.
This technology enables GenCell to provide the first viable green primary energy solution for off-grid telecommunications as well as rural electrification, at a lower cost than diesel solutions.
Nofar Energy is a company in the fields of renewable energy and energy storge. The company operates in Israel, Romania, Italy, Spain, the United States and the United Kingdom. In 2022, the company is expected to connect more than 700 MW, representing 1% of the global market outside China.
Aquarius Engines was founded in 2015, with the vision of redefining the off-grid electricity sector. Its linear engine technology accommodates all types of fuels, including synthetic fuel (non-fossil) and hydrogen (zero emissions). The customers of Aquarius enjoy a relatively small and light-weight engine with a very high capacity-size ratio (measured in KWh/Kg) and significantly lower maintenance than the currently available solutions. Using the linear engine technology, the company has developed linear engine generators and a remote maintenance system (“remote management") that offer its customers and strategic partners a comprehensive tailored solution.
Transportation Industry
Trucknet has developed a platform enabling intelligent matching between logistics transport companies to use the empty space available in their trucks (for transport) to improve efficiency and profitability and reduce empty runs for companies.
In 2020, the company has around half a million connected trucks from some 4,000 companies. Trucknet carried out a joint pilot project with Groupe Renault during the month of October 2020, in which a connection was established with Renault's tendering system which submits each work order. Through this system, contractors were identified based on their location in relation to Renault requests. The pilot project proved that connection to the Trucknet platform improved the efficiency and profitability of logistics services by 17%. In addition, it saved up to 115,000 euros in two weeks for 268 trips out of a total of 371 (68% success rate).
The company, founded in 2016 by CEO Hanan Fridman, employs around 40 people in offices around the world. Trucknet has signed agreements and pilot projects with leading companies in Israel and beyond, including DSV, La Poste, DPD, Chronopost, Allcargo, Israel Post and more.
Food Industry
Strauss Group is an international corporation with a portfolio of four core businesses, which provide a response to two leading world trends – Health & Wellness, and Fun & Indulgence. Strauss manages and develops its business in order to offer a wide range of quality Food & Beverage brands to the entire populations, which are marketed through various commercial channels. The Group has 15,000 employees worldwide and is active in more than 20 countries. The Group's sales totaled NIS 8.35 billion in 2020. Strauss has collaborations with Danone, PepsiCo, Haier and Virgin. Strauss Group is traded on the Tel Aviv 35 Index, which includes Israel's largest public companies, and has an ilAA+ credit rating from Maalot, a Standard & Poor's rating firm.
Digital Industry
Glassbox, established in 2010, provides digital customer experience solutions for digital channels, such as mobile websites and apps. The company's innovative platform analyzes digital customers' actions to optimize user experience and allow the customer a frictionless journey on the digital channel. The company's software-based services are licensed out to companies to monitor users' actions and analyze the information using big data and machine learning. To date, more than 350 customers have acquired a license to use the Glassbox platform, including international giants in the fields of banking, insurance, telecom, retail, technology and more. The company has more than 250 employees in Israel, the United Kingdom and United States and operates in more than 20 countries worldwide. 
In the picture – the Israeli delegation, headed by the CEO of TASE, Ittai Ben-Zeev.
Credit – TASE
