JERUSALEM, Feb. 20 (Xinhua) -- Israel's Ministry of Energy on Sunday announced a financial support initiative of 23.3 million new shekels (7.28 million U.S. dollars) to help as many as 19 innovative energy projects.

This picture taken on February 19, 2022 shows a view of a rainbow in the sky behind a tree near Moshav Kmehin in Israel's southern Negev desert following heavy rainfall. (Photo: AFP)

The support follows the recent announcements by Israeli Prime Minister Naftali Bennett and Energy Minister Karine Elharrar at the UN Glasgow Climate Change Conference regarding the need to promote an innovative, technological, efficient and green energy economy, the ministry said.

About half of the amount will be allocated to pioneer projects in the use of hydrogen for transportation, including the purchase of hydrogen trucks, buses, forklifts, and a portable system for refuelling vehicles with hydrogen.

The remaining amount will be invested in projects of energy production through dual-use land, energy storage, battery development, smart power grid, microgrid systems, and more.

The highest support, with 2.6 million shekels, will be given to an Israeli company that develops advanced rechargeable lithium-ion batteries with high energy density.

A waste-to-energy system and a solar system on facades of low-rise buildings are also included in the supported projects.