Page 416 - MOE ENGLISH PR REPORT

Page 416 - MOE ENGLISH PR REPORT - OCTOBER 2024

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10/28/24, 9:58 AM Three new companies specialised in clean energy technology join UAE’s NextGenFDI Initiative
Senior representatives of the three companies expressed their enthusiasm for joining the NextGenFDI
initiative. Bo Wang, Chairman of Enerflow, stated, “The United Arab Emirates stands as the perfect
gateway for expanding into key markets across the Middle East and Europe, offering an unparalleled
ecosystem and world-class 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.

Weiwei Zhang, Secretary of the Board of Directors of HyGreen Energy, confirmed the value of the

NextGenFDI initiative. “We are thrilled to join the UAE’s NextGen FDI initiative and to 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 are delighted to join the UAE’s

NextGenFDI initiative and 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.”

Launched by the UAE Ministry of Economy, NextGenFDI is aimed at attracting global high-tech
companies to the UAE to foster innovation, support the growth of SMEs, and drive the development of
sustainable industries. With a focus on sectors such as ICT, healthcare, and advanced manufacturing,
the initiative is playing a pivotal role in the UAE’s economic diversification strategy.