New Greentech Start-Up, Refhuel, to develop reversible fuel cell technology


New business is the result of a partnership agreement between prominent Israeli University

 Bar-Ilan and Decama Capital subsidiary Refhuel.Technology, in Sustainable Energy Storage , is developed by a leading expert in fuel cells.

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

It’s the result of a license agreement signed between Refhuel Limited, a subsidiary of Decama

Capital Ltd (symbol: DCMA), 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, said:

“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.”

For further information, please contact Integra Group [email protected] 0203 921 0310

Refhuel website –

Decama Capital Ltd (TASE: DCMA) 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.

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