JTA NEWS
23 July 2019 - 21 Tammuz 5779 - כ"א תמוז ה' אלפים תשע"ט
JTA NEWS :
Business
Israeli diamond industry to expand partnership in China with Alibaba platform E-mail

Israeli diamonds will now be offered for sale directly to Chinese consumers on Alibaba’s famous luxury platform, Ali Auction (paimai.taobao. com).

The Israel Diamond Exchange (IDE), which has been working with Alibaba.com for the past year on B2B diamond sales, is now expanding its activity in the Chinese market through this prestigious ecommerce site. IDE is the only diamond centre to have such an agreement with the Chinese internet giant.

The new marketing venture with Ali Auction will be launched in Shanghai at the first China International Import Expo (CIIE) from 5 to 10 November. The Israeli Diamond Industry will have an important presence with a national pavilion, located in Hall 5.1, featuring seven major Israeli companies, who will be seeking to sell their goods to Chinese diamond dealers as well as private consumers.

A major feature at the Israeli pavilion will be the launch of the joint venture of the Israeli industry and Ali Auction. IDE will offer a wide and diverse stock of diamonds, from small to large important diamonds, with a total value in the millions of dollars. The diamonds will be sold online on the Ali Auction site, offline at the pavilion and at live auctions held once a day, where buyers can place bids on specific items.

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SolarEdge acquires controlling stake in battery provider Kokam E-mail

Israeli solar energy company SolarEdge Technologies announced on 11 October that it has entered into definitive agreements to acquire a controlling stake in South Korean company Kokam, which provides lithium-ion battery cells, batteries and energy storage solutions.

Kokam provides battery solutions for a wide variety of industries, including ESS (energy storage systems), UPS, electric vehicles (EV), aerospace, marine and more.

SolarEdge founder, chairman and CEO Guy Sella, said: “The acquisition of Kokam will enable us to grow our offering, adding already proven battery storage to our product portfolio. Our technological innovation, combined with Kokam’s worldclass team and renowned battery storage solutions, will enable seamless integration with our current solutions, taking us a further step toward making solar installations smarter and more beneficial.”

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Japanese government agency to open Israeli startup accelerator E-mail

The Japanese External Trade Organization (JETRO), a Japanese governmental agency, announced last month that it will open a business centre and accelerator programme for Israeli startups.

The centre will support Israeli startups and mediate business co-operation between Japanese and Israeli companies. It will focus on support for Israeli companies in the founding stages and the expansion of their businesses to Japan.

JETRO promotes bilateral trade and investments between Japan and the rest of the world. As part of its activity, it operates the Invest Japan programme, which is aimed at helping foreign companies wishing to develop their business in Japan.

The programme offers information for foreign investors about all aspects of doing business in Japan, and provides professional consultation and temporary office space for free in large business centres throughout Japan. Under the name Global Acceleration Hub (GAH), similar Japanese centres operate at 12 sites around the world.

The GAH programme will be operated by Jakore, owned by former Rakuten executive Shintaro Hirato and former Samurai Incubate Israel CEO Yony Golan. The company represents Japanese investors and companies, while also supporting Israeli startups in the Japanese market.

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IDE appoints Eran Zini as new Managing Director E-mail

The Israel Diamond Exchange (IDE) appointed Eran Zini as its new Managing Director on 13 September.

Zini has a rich background in management positions in business and government. After serving as senior advisor to Israel’s Minister of Justice, he joined the pioneering Israeli electric car startup Better Place as head of government relations and regulation.

He holds a BA in Political Science and International Relations from the top-ranked Hebrew University of Jerusalem, and an MBA with a specialization in international management from the College of Management Academic Studies in Rishon LeZion. He is a member of the Israel Manufacturers Association and serves on the Advisory Board of the Business School of Bar Ilan University.

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Chinese company in talks to acquire Colorchip E-mail

China’s Sanan Optoelectronics is reportedly in talks to acquire Israeli chip-maker ColorChip for around US$300 million.

The proposed acquisition will be conducted using Sananaffiliated private equity fund An Xin Capital. ColorChip raised US$37 million in 2017 from investors including CIRTech fund.

ColorChip was founded in 2000 by Eli Arad, who serves as VP Research and Development; Shimon Eckhaus and Prof. Shlomo Ruschin. The company’s CEO is Yigal Ezra.

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