New Greentech Start-Up, Refhuel, to Develop Reversible Fuel Cell Technology

International Petroleum Corporation | February 07, 2022

A new business, Refhuel, which will focus on reversible fuel cell technology launches.

It’s the result of a license agreement signed between Refhuel Limited, a subsidiary of Decama Capital Ltd, an Israeli investment company headquartered in the UK and listed on the Tel Aviv Stock Exchange and BIRAD, Bar-Ilan University’s research and development company.

The pioneering technology to allow reversible fuel cells, which is already in development, has been worked on at Bar-Ilan University in Israel under the leadership of Professor Lior Elbaz.

Professor Lior Elbaz, the head of the Israel fuel-cells consortium, is based at the Department of Chemistry at Bar Ilan University and is a globally respected fuel cells expert.

Refhuel is developing a reversible fuel-cell based on a proprietary hydrogen carrier technology that will enable efficient storage and production of energy.

The announcement comes as Decama Capital Ltd looks to expand and explore new investment opportunities, particularly in the renewable energy sector.

Professor Lior Elbaz, Co-Founder of Refhuel and Associate Professor in Chemistry at Bar-Ilan University, Israel, said:

I am really excited to have reached this point. We have passed the proof of concept stage and, in time, the technology has the potential to revolutionize energy storage and production. The world is looking for affordable, sustainable energy and this technology promises to help deliver this.”

Dr. Tsvika Ben Porat, CEO of BIRAD

“The signing of the agreement with Decama Capital subsidiary Refhuel represents the latest example of BIRAD’s work translating the exciting research at our university into a commercial opportunity. Professor Elbaz’s work and innovation has the potential to change the way we store energy. It’s an example of not only Bar Ilan’s excellence but Israel’s leading position as a tech nation.”

Nate Lorenzi, Co-Founder of Refhuel and CEO of Decama Capital Ltd, said:

“We are delighted to come together with Bar-Ilan University to launch Refhuel. Professor Elbaz is a world leading figure and his research will have a transformational impact.

Energy supply and climate change are challenges facing every nation. As we move towards renewables, we face the problem of energy storage. The technology we are developing at refhuel has the potential to be the solution to this. This Is a landmark event for Decama Capital and we look ahead to have a great success with Refhuel.”

Decama Capital Ltd is a cross-sector Israeli investment company, with primary holdings in real estate, and an active interest in investing in rapidly growing industries, including impact investing and renewable energy. Founded in 2005, and listed on the Tel Aviv stock exchange, it has an experienced team of investment professionals. Headquartered in London and with offices in Israel, its expertise lies in its l, strategic and commercially driven approach to investing and navigating complex deals. Nate Lorenzi has been the CEO since 2018.

BIRAD Research & Development Company Ltd. was established in order to translate new inventions made at Bar-Ilan University into useful products that can be effectively commercialized, thus strengthening the economy, promoting innovation and improving lives. Bar Ilan University, founded in 1955, is Israel’s second largest university, with about 19,000 students and about 1,350 members of academic staff.

Professor Lior Elbaz is Associate Professor in Chemistry at Bar-Ilan University, Israel. He received his PhD in chemical engineering from the Ben-Gurion University, Israel. During his graduate studies, he specialized in electrochemistry and worked on the development of catalysts for fuel cells. He was a post-doctoral fellow at the Los Alamos National Laboratory in New Mexico (USA), returning there as Visiting Scientist, 2020-21. Professor Elbaz established the Israeli Fuel Cells Consortium in 2016 with the support of the Fuel Choices and Smart Mobility Initiative of the Israeli Prime Minister's Office, and heads it. This is a 12-member labs consortium with representation from all major universities in Israel. Professor Elbaz is also the Israeli representative to the International Energy Agency’s Advanced Fuel Cells Executive Committee, and a member of Israel’s President’s Climate Forum. He his consulting for some of Israel’s largest energy companies, and has been actively promoting the Hydrogen Economy.


The chemical sector as defined in this research covers the chemical sector in its full diversity: producers of bulk chemicals and intermediates, producers and convertors of polymers, industrial biotechnology companies, producers of fine chemicals and specialties, formulators of chemicals products.


The chemical sector as defined in this research covers the chemical sector in its full diversity: producers of bulk chemicals and intermediates, producers and convertors of polymers, industrial biotechnology companies, producers of fine chemicals and specialties, formulators of chemicals products.

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