Page 335 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 1)

4/24/25, 2:09 PM Welligence To Partner With UAE's Nextgen FDI Initiative To Provide Cutting-Edge Data To Energy Sector
FDI initiative's role in supporting the development of future-focused industries.

Founded in 2017, Welligence aims to provide innovative solutions accelerated by AI, by
efficiently screening and identifying opportunities, benchmarking competitors' portfolios,
evaluating economic impacts of GHG emissions, and building credible commercial asset
valuations. Their platform provides granular information on energy projects in 193
countries. Welligence has offices in 10 cities around the world and the UAE represents its
first foray into the Middle East.

HE Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, says
Welligence's decision to expand into the UAE is a clear demonstration of the nation's
welcoming ecosystem for high-tech firms and pro-business environment.“Welligence is
precisely the kind of cutting-edge enterprise the NextGen FDI initiative was created to
attract. Their expertise in leveraging AI and machine learning to empower decision-
making will significantly contribute to promoting both the energy and advanced technology
sectors in the UAE. By building a strong presence in the market, including the
establishment of research and technology teams, Welligence will also support our pursuit
of a knowledge-driven economy.”

Ross Lubetkin, Welligence's Chief Executive Officer, stated:“Opening our regional hub in
the United Arab Emirates marks a transformational milestone in our journey. The UAE has
firmly established itself at the forefront of global energy innovation, especially when it
comes to cutting-edge technology and strategic energy investments. With Welligence's
energy research vision driven by our technological edge, there's no better partner than the
UAE. We are beyond excited to build our future together and are grateful to the Ministry of
Economy for its support.”

Launched in 2022, the NextGen FDI initiative is a key pillar of the UAE's drive to diversify
its' economy and position itself as a global hub for innovation. To date, the initiative has
welcomed over 90 companies operating in future-focused sectors such as AI, renewable
energy, robotics, and advanced manufacturing.

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