Page 418 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/28/24, 9:58 AM Three new companies specialized in clean energy technology join the UAE’s NextGenFDI Initiative - Biz Today
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 revolutionize the battery industry with its solid-state batteries
(ASSBs), which have been developed in collaboration leading automotive OEMs and eVTOL
companies globally.

His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade,

welcomed the addition of the three companies, and underscored the role the NextGenFDI
program is playing in driving innovation in critical industries such as clean energy in the UAE.
“The three new members to the NextGen FDI program 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.”

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