Page 400 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/28/24, 3:36 PM Three 'green' firms join the UAE’s NextGenFDI Initiative
energy storage; HyGreen Energy, which is developing water electrolysis hydrogen equipment for a
variety of industries, including steel and petrochemical; and Enpower Greentech, which is helping to
revolutionise the battery industry with its solid-state batteries (ASSBs), which have been developed in
collaboration leading automotive OEMs and eVTOL companies globally.

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Pioneering solutions

Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said: “The three new members
to the NextGen FDI programme have each developed pioneering solutions that align with the UAE’s
vision for a sustainable, low-carbon future. Their involvement in NextGenFDI underscores our
commitment to support strategic investment into high-impact technologies and clean-energy solutions in

particular. This will not only support the expansion and growth of these enterprises, it will enhance the
clean-tech sector in the UAE as a whole and confirm our status as a global leader sustainability and
innovation.”

Since its launch in 2022, the NextGenFDI initiative has sought to attract innovation-led companies from

around the world by offering a range of market-entry benefits, including fast-track set-up and licensing,
visa issuance and access to financial services. Comapnies also gain the benefit of the growing
NextGenFDI network, through which they can share knowledge and support expansion into local and
regional markets.

Bo Wang, Chairman of Enerflow, stated: “The UAE stands as the perfect gateway for expanding into key

markets across the Middle East and Europe, offering an unparalleled ecosystem and world-class

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