Thermal To Electrical Energy Converter

The Company

Green Gold was founded in January 2007, and is currently a portfolio company of L.N. Green Technological Incubator, located in Haifa.

The Mission

Green Gold has developed a unique and innovative patented technology which converts thermal energy to electricity, without any pollution, without the use of fossil fuels and that meet better the needs than any other available alternatives in the market today. This includes alternative green energy systems.

The Team

Haim Morgenstein – M.B.A, founding entrepreneur. Has 20 years experience in R&D integration and production in high-tech companies.

Boris Shmidov - Machines M.SC, Ph.D. Served as Senior Lecturer and Deputy Dean of the Interdisciplinary Institute of Technology in Tashkent; Research Associate at the Technion’s Tribology Lab.

Miron Kagnovich – B.SC, Mechanical Engineering.

Zahi Shor – B.SC, Mechanical Engineering and Mechatronics.

Professor Mark Shliomis, from the faculty of Mechanical Engineering at Ben-Gurion University. Over 40 years experience and world renowned in the field of Magnetic Liquids, provides technical and academic consultancy to the project.

The Opportunity

Energy saving is a growing global trend which, among other methods, is expressed by the ongoing attempt to reach higher efficiency from an existing system.

Due to the constantly increasing prices of traditional energy sources there are large efforts concentrating on reducing the dependency on fossil energy.

In the last years the reduction of environmental pollution and the move to “green” energy is the main accelerated subject.

Product Offering


Energy saving by improving the existing efficiencies in the process of electricity production.


Significant reduction of manufacturing costs compared with alternative electricity producing systems.


Production of electricity from residual heat without environmental pollution.


Production of electricity in remote areas that lack in network infrastructure.

Product Status

Project patent granted.
Two advanced proof of concept developed successfully.
First prototype in process.

The Technology

Green Gold is the proprietor of a unique and innovative technology for producing electricity from heat.

This patent’s unique technological structure includes an autonomous system (closed loop). 39.2% efficiency in 400 ºC environment.

The physical concept in the fluid magnet based system, combines two separate thermodynamic cycles into one whole thermodynamic cycle, which enables conversion of heat into pressure and then into electricity in an optimal way. The fluid produces (AC) electricity directly, unlike existing systems in which high temperature steam activates a turbine. With the proposed converter the turbine becomes obsolete, as the steam is directly converted into electricity, therefore, minimizing conversion losses that are involved in operating such a mechanical element (turbine).

The Market

The target market involves a wide range of secondary markets with a shared common denominator of energy-intensive use where residual heat is created and is mostly unexploited. In other cases, the residual heat is used only partially and somewhat ineffectively.

The electricity production target in Israel is set to 10% production from renewed sources, which is currently around 5G KWh annually. The yield from electricity production from renewed sources is at an increased governmental premium of nearly 1.5 NIS per 1KW, meaning that the annual electricity market potential in Israel alone is approximately 7.5 billion NIS.

Funding Requirement

The company is seeking to raise $ 5M in order to complete prototype phase

Contact info

Green Gold

L.N. Green Technological Incubator Ltd.
2 Yagur St. Profit Building
Haifa 32626, Israel

Mob. +972-(0)52-4533645

Tel. +972-(0)4-8470100

Fax +972-(0)4-8422550