The Gaza War distracts Bezos's fund from investing $30 million in Israel Economy

The Bezos Earth Fund, which is affiliated with American billionaire Jeff Bezos and aims to combat climate change, stopped investing $30 million to implement ideas presented to it last year by the Hebrew University and the Technion Institute of Technology in Israel due to the current uncertainty related to the war on Gaza, according to what Yedioth Ahronoth newspaper reported. Israeli.

Visit to Israel

Andy Jarvis, director of the Future of Food at Bezos Earth, visited Israel last September and met with researchers from the Technion Institute and the Hebrew University who presented ideas in the field of alternative protein, at a time when the Bezos Fund intends to invest $30 million, in addition to another $70 million from the chosen university. Over a period of 5 years, with a total of $100 million for the center, according to the newspaper.

In an email reported by Calcalcit (the economic supplement of Yedioth Ahronoth) and sent by Garvis to teams of researchers and the Good Food Institute (a non-profit organization that works to promote plant-based and cellular alternatives to animal products), Garvis wrote: “Unfortunately, it is clear that the events of October had a “Given the uncertainty of the war (in Gaza) at the moment, such a large and significant grant to the Bezos Center is not a viable option for us.”

“We will monitor the situation, and if the situation improves significantly, we will of course be in touch,” Garvis continued.

Excluding Israel

The Bezos Earth Fund, which has committed to investing $10 billion in tackling issues related to the climate crisis by the end of the decade, announced a $60 million pledge this year to establish university centers for sustainable protein research.

The aim is to mitigate environmental damage caused by the consumption of animal foods, and to improve the quality and availability of protein-rich plant foods.

Although no center will be established in Israel at the present time, the Bezos Fund has begun establishing centers in other places around the world in 2024, excluding Israel, according to Yedioth Ahronoth.

According to the newspaper, the alternative protein industry in Israel attracted investments worth $1.6 billion in 2023, followed by $299 million in the first half of 2024. Total investments in the sector have now reached about $16 billion, and about 80% of this amount has flowed since the beginning of 2020.

Investment momentum in Israel slowed significantly in 2023 due to a broader slowdown in advanced technology investments, as a result of the war on Gaza.