Businessman and entrepreneur Rani Zim is establishing a new activity in the field of renewable energy, called Rani Zim Sustainable Energy. Rani Zim Private Holdings, which is 100% owned by Zim, has signed an agreement to establish a new company that will deal with energy efficiency, reducing emissions and pollution among energy producers and consumers. Zim establishes the new company in partnership with Yoram Cohen, former CEO of Noga – Management of the Israel Electric System, who will serve as CEO of the new activity, as well as with the public Burnmiller Energy company, in which Zim is a shareholder (holds 17.1% of shares The company). The new company draws on the existing need among energy producers and consumers such as industrial plants, power plants, hospitals and hotels to reduce the volume of emissions from their facilities, according to the government decision on the issue as expressed at the climate conference in Glasgow by the Prime Minister and Minister of Energy.
The new company, Rani Zim Energy Sustain, intends to begin immediately in identifying opportunities for energy efficiency, providing storage solutions, reducing emissions and significant pollution among energy producers and consumers in Israel, and later in the world. The new company will base its initial activity on the technology developed by Bernmiller in the field of reducing emissions for power plants and industrial plants, and these days Bernmiller is nearing completion of a project of this kind that it is setting up for a power plant of the Italian energy company ENEL. At the same time, the joint venture will also examine the use of additional technologies in the areas of energy efficiency, emission reduction and pollution and energy storage.
As mentioned, the new company will be managed by Yoram Cohen, who served in his last position as CEO of Noga, and in the past was also CEO of Delek Natural Gas and Delek GPM, and also served in senior management positions at energy companies Sonol and Paz and the international energy company GULF.
Brenmiller notes that the company sees the expression of trust of the partners, who have chosen it as the main technology for establishing the new company’s activities, as a leading technology for reducing production emissions and energy consumption in Israel and in general.
Pursuant to the Founders Agreement, Burnmiller and the Partnerships will each hold 45% of the issued and paid-up share capital at the time of the Company’s incorporation. The other parties to the agreement, Yoav Kaplan and Yoram Cohen, will each hold 5% of the issued and paid-up share capital.
The parties will work to finance the activities of the private company, inter alia, through shareholder loans provided by the shareholders, as well as by other financing entities, including institutional investors and the capital market.
The parties estimate that to the extent that financing and investment is required for projects in the partnership, they will be financed through non-recourse project financing for each of the projects separately, including by financing from various sources, including institutional bodies and the capital market, and by receiving grants to reduce emissions. In the opinion of the parties, they will not be required to inject significant share capital into the new activity.
Rani Zim, CEO of Rani Zim Holdings: “After examining the market, we found that there is now a necessary and urgent need among energy producers and industrial plants throughout the country to work to reduce emissions and air pollution, in accordance with the government decision and the business environment that supports and encourages this trend. We are currently setting up an activity that will address this need, based on the proven technology of the Burnmiller company, which has received regulatory approvals in Europe, along with other technologies in the field of clean energy. We intend to start activity in the Israeli market, which alone has very significant business potential for us, and later we will also examine entry into international markets in relevant countries. “
Yoram Cohen, partner and CEO of Rani Zim Energy, sustains: In order for the business sector to meet the targets of reducing emissions by 30% by 2030 and resetting greenhouse gases by 2050, as determined by the government, the preparation and mobilization of all players in the field is already committed. Accordingly, we believe that we are currently facing a very significant target market. The new company we established (Rani Zim Sustainable Energy) will initially focus on storage solutions and reducing emissions and pollution for industrial plants, power plants, hospitals, hotels and various public institutions. We will start working immediately to identify opportunities and collaborations for energy efficiency in order to establish the activity in the near future. ”