"In the end, our car might pay for our parking, but not the mortgage"

"If more flexible economic models are not created for Israeli energy companies, they will continue to divert billions to investments in Europe, which could create a problem for the Israeli electricity sector," warns Zviki Ben David, VP of the Chinese energy company HyperStrong, in an interview at the Calcalist and Discount Energy Conference.

Zviki, not everyone knows HyperStrong. Tell us about the company.

"HyperStrong is a public company that has existed for 15 years, is traded in Shanghai, and is one of the three largest companies in the world in energy storage supply. We do not manufacture solar panels, we are a pure integrator. Last year we produced 26 gigawatt-hours of storage, and this year we will produce 70 gigawatt-hours. Just to put it in perspective, in Israel, 6 gigawatt-hours of storage have been installed so far."

There is another interesting aspect, you are the only Israeli in a company that is entirely Chinese.

"A month ago I returned from a board meeting, I was the only Westerner who sat in the room for 3 consecutive days. The first thing you learn in China is that the clock runs differently. Unlike Israeli companies where everyone comes into the room with all sorts of opinions and then decides something, in China it is different. They come in advance with the decision, and then the speed at which they execute it is a bit scary. Opinions are less important when entering the room, results are what matter."

Let's move on to talk about energy. What is behind the recent rush of Israeli companies to Europe?

"It's a story of capital, not patriotism. The storage market in Israel is stable, but limited. In Europe, there is a pile of revenue. If we take Enlight's Jupiter project in Germany as an example, there are 2.1 gigawatt-hours in one project. There are no such scales in Israel."

Is this a welcome or dangerous trend?

"Capital and talent follow the return, and if the Electricity Authority and the Ministry of Energy do not open diverse, sophisticated, and flexible profit channels, entrepreneurs will continue to invest their billions in projects in Germany, Spain, and England, and Israel will struggle to meet its energy goals."

How does the pressure from the US and Europe on Chinese companies affect you?

"It's real pressure, we see it all the time. The European Union has a trend of removing funding from high-risk projects, and the US uses tools to filter eligibility for tax benefits. But notice what is limited, the return of control and money, not the chemistry. 80% of the batteries in the world today are produced in China, and that will not change. Our answer as HyperStrong is flexible architecture, and working according to local limitations."

Will we soon see electric vehicle owners selling electricity back to the grid?

"In the end, our car might pay for our parking, but not the mortgage. And yes, it can happen, but it takes time. I estimate it will start with vehicle fleets around 2030."