Eltek Secures Grant from Israel Investment Authority


Reading time ( words)

Eltek Ltd., a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards, provided an update regarding its award of a grant from the Israeli Investment Authority that will fund 15% of Eltek's expected $1.5 million investment in Advanced Manufacturing Equipment fit to Industry 4.0 standards, which focuses on interconnectivity, automation, machine learning, and real-time data.

The grant also provides for potential future grants covering additional 5% of these capital investments, as soon as Eltek demonstrates improvements in certain of its operational indicators. Major portions of Eltek's investment programs are expected to be completed and become operational by mid-2021.

Eli Yaffe Eltek's CEO commented, "The investment will strengthen Eltek's manufacturing capabilities and increase our competitiveness by implementing improved production processes and adoption of Industry 4.0 technologies."

In addition, Eltek received final approval from the Israel Innovation Authority ("IIA") for a 50%, royalty bearing participation in an approximately $250,000 one-year development program, which is set to start in March 2021. The total R&D program may be extended for a second year, subject to IIA approval. This R&D program is meant to enable Eltek to achieve a significantly faster production rate in certain stages of its manufacturing process, which will also drastically reduce scrap.  There can be no assurance that the R&D program will succeed in achieving its goals or that all pre-defined benefits will be attained. The development program and process is designed to ensure air cleanness in order to meet ISO-14644-1 Standard class ISO 5 for cleanroom measurement.   

We believe that if successfully completed, this R&D program will yield significant growth in manufacturing capacity with relatively minor investment in equipment, enhancing Eltek's ability to offer highly reliable printed circuit boards in a shorter production time and at reduced prices.

These two programs are in addition to ongoing development projects that Eltek had held with a governmental authority, announced in July 2017 and January 2020.

Eli Yaffe Eltek's CEO added, "The two prior programs that were approved in 2017 and 2020 together with the newly approved programs are part of a technology road map that Eltek launched as part of its strategic plan to become an innovative industry leader for low quantity production of high performance printed circuit boards"

Share

Print


Suggested Items

Top Five Takeaways from IPC APEX EXPO 2021

04/15/2021 | Chris Mitchell, IPC VP, Global Government Relations
IPC APEX EXPO 2021, which went all virtual this year, exemplified how the electronics industry has responded to the COVID-19 global pandemic: with resiliency, agility, and an unwavering commitment to build electronics better. APEX EXPO featured great content and robust discussions on topics of critical importance to the global electronics industry. From my vantage point leading IPC’s government relations programs, here are my top five takeaways from this year’s event.

Highlights on a Rousing Virtual IPC APEX EXPO 2021

04/14/2021 | Pete Starkey, I-Connect007
What a week that was! I didn’t get to endure the 11-hour flight each way, neither did I need my comfy old shoes, but it certainly was a marathon event. And real-time-plus-six-hours gave me a few late nights, but it was such a meaningful experience, and well worth the effort!

IPC Supporting Newcomers in the Industry: Notes from IPC APEX EXPO 2021

04/01/2021 | Marc Carter, Aeromarc
With the wrap-up of IPC APEX EXPO 2021, it was extremely gratifying to note the emphasis placed on getting young people involved to combat the “graying out” knowledge losses facing our industry. A part of that emphasis was reflected in the award ceremony on Tuesday, March 9, which featured some people you may have seen mentioned in my “Better to Light a Candle” columns.



Copyright © 2021 I-Connect007. All rights reserved.