'Going blue': Israel invests in marine-related renewable energies with Innovation Authority fund

July 20, 2026 - 02:29

The Israeli government has announced a new investment initiative aimed at advancing renewable energy technologies tied to the sea. Dubbed "Going Blue," the program will channel a total of NIS 6 million into marine-related energy projects. Half of that sum, NIS 3 million, will come from the Israel Citizens Fund, which is managed by the Ministry of Energy.

The Innovation Authority is leading the effort, partnering with the Energy Ministry to identify and back promising startups and research teams. The focus is on technologies that can harness wave power, tidal currents, and offshore wind, as well as solutions for energy storage in coastal environments. Officials say the goal is to reduce reliance on fossil fuels while tapping into Israel's long Mediterranean coastline.

This is not a massive fund by global standards, but it signals a strategic shift. Israel has traditionally focused on solar energy and natural gas. Now, policymakers want to diversify the renewable mix. The fund will prioritize early-stage ventures that can demonstrate practical, scalable prototypes. Companies and academic labs can apply for grants covering up to 50% of their development costs.

Energy Ministry representatives stressed that the Citizens Fund exists specifically to support projects with clear public benefit. By earmarking part of it for marine renewables, the government hopes to create jobs in coastal communities and strengthen energy security. The first call for proposals is expected to open within weeks.