Page 401 - MOE ENGLISH PR REPORT

Page 401 - MOE ENGLISH PR REPORT - OCTOBER 2024

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10/28/24, 3:36 PM Three 'green' firms join the UAE’s NextGenFDI Initiative
connectivity. Aligned with our vision for cleaner, more efficient energy solutions, the UAE’s NextGen FDI
programme presents a unique opportunity for collaboration across multiple industries. As a leader in the
vanadium flow battery energy storage industry, we are eager to contribute our expertise to this dynamic
region.

“We are particularly enthusiastic about investing in the UAE, including establishing manufacturing
facilities that will leverage the nation’s advanced photovoltaic infrastructure and robust chemical,
petroleum, and energy production capabilities. Joining the NextGen FDI programme reflects our
commitment to fostering sustainable innovation, hand in hand with the UAE’s progressive energy

landscape,” Wang added. Enerflow is backed by the globally recognised investment fund Hillhouse.

Green hydrogen expertise

Weiwei Zhang, Secretary of the Board of Directors of HyGreen Energy, said: “We will be able to bring our
green hydrogen expertise to this forward-thinking nation, one whose commitment to clean energy aligns
perfectly with our range of cutting-edge solutions. The support provided by the programme will enable us

to establish and scale our presence in the UAE, where we aim to contribute to the nation’s energy
transition towards a more sustainable, green hydrogen-based future,” she said. HyGreen Energy has
installed more than 500 sets of its systems across 24 countries and regions globally, and is the only
company possessing three distinct water electrolysis technology pathways: ALK, PEM and AEM in

China.

Yani Kong, Shareholder & SVP of Enpower Greentech, said: “We will introduce our transformative
technology to the UAE and the wider region. The pursuit for clean, renewable, and storable energy is a
collective challenge, but one that drives innovation across countries and stakeholders. We are excited to
continue this journey in partnership with the UAE, a nation committed to climate-tech and low-carbon

solutions.”--TradeArabia News Service