Date: January 6, 2012
Source: News Room
Covanta Energy (Morristown, NJ) is teaming up with Israeli company RAFEAL Advanced Defense Systems Ltd., a defense contractor, to develop a mobile biomass-to-fuel system. The project is to receive a grant of $8.1 million from the Binational Industrial Research and Development (BIRD) Foundation, an Israel-US government foundation, along with eight other recipients. In addition to the grant money, the Covanta-RAFEAL partnership and other recipients will also benefit from access to private sector funding to the BIRD Foundation, which is expected to raise $22 million. The maximum amount of funding awarded by the BIRD Foundation to any one project is $1 million.
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