Bob Ackerman has been around Silicon Valley’s entrepreneur scene for many years. For Bob, Cleantech is the “latest shiny object”, wrapped in a bubble which is about to go pop.

The bubble is being led by overstated expectations and magnified by inexperienced people selling into a fantasy of hope.  That is not a good combination and it is not grounded.  That’s why I don’t believe in investing in clean technology even though there are real opportunities in the space.

Maybe, but not in Israel. Why?

Last week, Israel hosted Watec, the 5th international water and renewable techs exhibition. The Israeli Export Institute estimated that over hundred countries sent delegations to the conference.

It is difficult to estimate the number of deals which resulted from the three days of hectic activity. Formal trade agreements were announced with Wisconsin, California and Australia – to name but three. With my own eyes, I saw one start-up watch, as investors from Japan, Europe and America fought for positions.

Israeli entrepreneurs have consistently proven that Cleantech can deliver on its promises. The country is ranked first in the world in recycling water for agriculture. The Ashkelon desalination seawater reverse osmosis plant is probably the largest in the world. Jerusalem based companies are setting international standards in solar power.

A bubble collapses when commercial promises are not followed with deliverables. Israeli companies have so far managed to convert business plans into dollars. Time for Mr Ackerman to pay (another?) visit to the Holy Land.