First Innovation Voucher Issued!

The CIT issued its first Innovation Voucher to the applicant Mr. Jihad Nasrallah on Wednesday, October 10, 2012. Mr. Nasrallah has worked on a Smart Storage Electric Hot Water Tank that is intended to replace the usual Electrical Hot Water Tank.

The awarded project succeeded in passing the evaluation rounds and was found by the CIT technical committee to possess an encouraging inventiveness level while providing a novel way for significant energy saving, with the ability to serve at least double the number of people with hot water for limited temperature peaks.

The issued Innovation Voucher will be used to develop a prototype such that it will become closer to the commercialization phase where the industry can benefit from it.