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This is how 9 billion shekels were lost: what happened to the energy technologies? - Walla! Of money


After the meteoric rise of the stocks in the days of the Corona, the companies in the field are recording double losses than the average, even in the faltering capital market of 2022. What are the reasons for this and what does the future hold?

Solar panels, one of the alternative energy technologies.

The future looks green, but in the meantime the stocks are colored red (Photo: ShutterStock)

Israeli energy innovation fails to motivate investors and the Israeli companies currently trading in the field are sinking to all-time lows, except for one company.

The ten Israeli energy technology companies tested by Walla!

Hako money is worth about NIS 9.2 billion since it reached a peak value during the Corona period, following the buzz of investments in the fields of energy and technology at the time.

Some of them even took advantage of the opportunity to issue or merge their activities to the Tel Aviv Stock Exchange and raise tens of millions of shekels, but most of them failed the test of income and the ability to last without raising additional funds for the company.

About a third of the companies wrote off over NIS 1 billion each, led by Electreon Wireless, which works to develop the 'smart road'.

The latter rose to a record value of approximately NIS 3.1 billion during the fourth quarter of 2020 and at the time of its review traded at a value of NIS 351.8 million - a write-off of approximately NIS 2.8 billion.

Adjacent to it is the Ogwind company, which operates in the field of energy storage using compressed air and at the time of its review was traded at a value of NIS 98.1 million, compared to the peak value it reached during the Corona period which was about NIS 2.5 billion, which represents a write-off of about NIS 2.4 billion for the company.

A little behind them is Gensel, which develops technology based on alkaline fuel cells that operate on hydrogen and has written off about NIS 1.6 billion since the peak value it reached during the Covid period, which was about NIS 1.8 billion, compared to its value at the time of its review - NIS 216.9 million.

It should be noted that quite a few growth companies, mainly in the fields of technology, have written off tens of percent of their value over the past year, but also against the background of the general depression in the field, only a few sectors have written off almost the majority of the value in which they were traded at the time.

The red goes up, or actually - goes down.

List of shares of energy technology companies on the Tel Aviv Stock Exchange (photo: Walla! system, no)

Twice as much as the leading indexes lost

Shares of Israeli energy technology companies have fallen by an average of 83.85% since their peak during the Corona period, much deeper than the decline of most of the main indices and even of the industry indices related to them.

The Tel Aviv Cleantech Index, for example, has fallen 43.65% since reaching its peak during 2021, and the Tel Aviv 125 Clean Climate Index has fallen 13.29%.

The declines were led by the companies Ogwind, Storge Drop, Ora Smart, and Nostromo, which lost 96.47%, 96.06%, 94.93% and 91.74% respectively.

For the second of them, Sturge Drop, even the recruitment of Gadi Eisenkot, the former chief of staff and current politician, to the position of chairman of the company did not help - and Eisenkot resigned from his position on November 3 of this year, 48 hours after his party's failure in the elections.

This is not the end of the company's troubles: at the beginning of the week Storge

good to know (in advance)

The solution to knee pain is closer than ever - thanks to technology in the shoe

Submitted by Apostrophe

Retired Chief of Staff, Lt. Gen. Gadi Eisenkot.

Even his martial aura did not save Storge Drop from trouble (Photo: Reuven Castro)

The one that comes up?

But while many companies are facing many challenges along with the sharp declines, one company managed to continue to fade in the air of the summits - Apollo Power, headed by

Reserve Major Yom Tov Samia

as chairman, and which was traded at the time of its review at a value of approximately NIS 1.48 billion.

The company's stock fell by approximately 31.5 % since the peak value it reached during the Corona period, which was then about NIS 1.95 billion, and has erased about NIS 475 million from its value until the day of its examination.

Although it is hundreds of millions of NIS, but examining its value along the timeline even before the Corona, only intensifies the wonder, Because the company was traded at a value of around NIS 20-30 million. The question therefore arises, what do investors find in it that is not found in the other companies.

According to the company, the answer is clear.

Oded Rosenberg, CEO of Apollo Power

, gave Walla money!

Because "with us, the dream becomes a reality, our new factory is going to be operational within a few months, which is the first and only factory for the production of solar panels in the country. In

combination with our customers, who are among the largest in the world such as the automobile companies Hyundai and Audi, the e-commerce giant Amazon, and the Ministry of Defense, who have tested our technology And they believe in it, the public probably also trusts the company."

Factors in the capital market direct the positivity mainly to the conduct of the controlling owners of the company, and to the combination of the institutional factors that invested tens of millions of shekels in it: the Phoenix Insurance Company and the Moore Investment House, which have since held 10.26% and 7.16% of its shares respectively.

General (res.) Yom Tov Samia, chairman of "Apollo Power". A new plant and a high-quality institutional investor profile (photo: private photo)

Despite everything, a chance for a green future

It should be noted that the need for energy solutions such as energy storage, optimization and energy saving is increasing year by year and especially stronger following climate changes, wars and struggles that emphasize the need for energy independence, and the rise in electricity and energy prices worldwide.

The International Energy Agency (IEA) estimates that global energy consumption will increase by tens of percent by 2040, (according to various policy forecasts), and one of the areas that will contribute to the rapid increase is the electric vehicle, whose sales have grown by hundreds of percent in the last decade.

The Israeli companies are working to develop solutions based on clean technology that succeed in passing pilots around the world, but still fail to reach the desired trophy in the form of significant revenues and profits.

But in light of the prices of their shares, there are investors who are examining whether there is anyone among the companies to give their trust and money, and whether they will even return in the future to the peak value to which they were swept along with the green wave that began in the markets with the Corona crisis.

The global need for a war on the quality of the environment bodes well for the field.

The only question is whether the players active in the market today (and those who invest in them) will be there to enjoy the boom? (Photo: ShutterStock)

  • Of money

  • consumption

  • financial decisions


  • energy

  • green energy

  • Gadi Eisenkot

  • Good day Samia

Source: walla

All business articles on 2022-11-24

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