Page 415 - MOE ENGLISH PR REPORT - OCTOBER 2024
P. 415
10/28/24, 9:58 AM Three new companies specialised in clean energy technology join UAE’s NextGenFDI Initiative
economy.
The three companies are: Enerflow, a specialist in vanadium flow battery technology, which is promising
to lengthen the lifecycles of rechargeable batteries – from four to ten hours – used in clean-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.
ADVERTISING
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, welcomed the addition of the three
companies, and underscored the role the NextGenFDI programme is playing in driving innovation in
critical industries such as clean energy in the UAE.
He 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.
Companies also gain the benefit of the growing NextGenFDI network, through which they can share
knowledge and support expansion into local and regional markets.
https://www.zawya.com/en/business/energy/three-new-companies-specialised-in-clean-energy-technology-join-uaes-nextgenfdi-initiative-h7doewvj 2/4
