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The Ministry of Economy announced the addition of three companies specializing in clean energy technology from China and the United States to the NextGenFDI programme. This move emphasizes the UAE’s position as a hub for innovative enterprises and groundbreaking ideas.
The newly welcomed companies—Enerflow, HyGreen Energy, and Enpower Greentech—are expected to significantly contribute to the UAE’s clean energy objectives and support the nation’s transition toward a more sustainable, low-carbon economy.
Enerflow specializes in vanadium flow battery technology, enhancing the lifespan of rechargeable batteries used in clean energy storage from four to ten hours. HyGreen Energy is focused on developing water electrolysis hydrogen equipment for various industries, including steel and petrochemicals. Enpower Greentech aims to revolutionize the battery industry with its solid-state batteries (ASSBs), created in collaboration with leading automotive OEMs and eVTOL companies worldwide.
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, expressed his enthusiasm regarding the inclusion of these companies, highlighting the role of the NextGenFDI programme in promoting innovation in critical sectors like clean energy in the UAE. He stated, “The three new members to the NextGenFDI programme have each developed pioneering solutions that align with the UAE’s vision for a sustainable, low-carbon future. Their involvement underscores our commitment to support strategic investments in high-impact technologies and clean energy solutions.”
Since its launch in 2022, the NextGenFDI initiative has aimed to attract innovation-driven companies globally by offering a variety of market-entry benefits, including expedited setup and licensing, visa issuance, and access to financial services. Participants also gain the advantage of joining a growing network where they can exchange knowledge and facilitate their expansion into local and regional markets.
Representatives from the three companies expressed their excitement about joining the initiative. Bo Wang, Chairman of Enerflow, remarked, “The UAE stands as the perfect gateway for expanding into key markets across the Middle East and Europe, offering an unparalleled ecosystem and world-class connectivity. The NextGenFDI programme presents a unique opportunity for collaboration across multiple industries.” He added that Enerflow is eager to contribute its expertise in the vanadium flow battery energy storage sector.
Weiwei Zhang, Secretary of the Board of Directors of HyGreen Energy, affirmed the initiative’s value, stating, “We are thrilled to join the UAE’s NextGenFDI initiative and bring our green hydrogen expertise to this forward-thinking nation. The support from the programme will help us establish and grow our presence in the UAE, contributing to the nation’s transition toward a sustainable, green hydrogen future.” HyGreen Energy has installed over 500 systems across 24 countries and is the only company in China with three distinct water electrolysis technology pathways: ALK, PEM, and AEM.
Yani Kong, Shareholder & SVP of Enpower Greentech, expressed enthusiasm for the partnership, saying, “We are delighted to join the UAE’s NextGenFDI initiative and introduce our transformative technology to the region. The pursuit of clean, renewable, and storable energy drives innovation across countries and stakeholders.”
Launched by the UAE Ministry of Economy, the NextGenFDI initiative aims to attract high-tech global companies to the UAE, fostering innovation, supporting SME growth, and driving the development of sustainable industries. With a focus on sectors such as ICT, healthcare, and advanced manufacturing, the initiative plays a crucial role in the UAE’s economic diversification strategy. |
