Page 423 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/28/24, 9:58 AM Three new companies specialised in clean energy technology join UAE's NextGenFDI Initiative
Companies also gain the benefit of the growing NextGenFDI network, through

which they can share knowledge and support expansion into local and regional

markets.

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

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