• Agreement outlines commitment to explore collaborations on game-changing technologies
• First project under agreement related to deployment of graphene technology to reduce the energy consumption of buildings
• UAE-based Zero Carbon Ventures specializes in working with global partners to innovate, nurture and deploy advanced technologies to drive down carbon emissions in the Middle East
Abu Dhabi, United Arab Emirates, 5 October 2022: Masdar City, Abu Dhabi’s only planned and approved R&D cluster for innovative technologies, and Zero Carbon Ventures, a company dedicated to bringing carbon-reducing technologies to the Middle East, have signed a memorandum of understanding (MOU) to advance carbon reduction in the Middle East.
Already underway at Masdar City, the first project to be explored under the agreement will involve deploying Zero Carbon Venture’s game-changing graphene technologies to reduce the need for maintenance and reduce the energy consumption of key buildings.
Ahmed Baghoum, Executive Director, Masdar City, said, “Masdar City is dedicated to acting as a global hub and facilitator for international and regional organizations working in sustainability R&D and innovation. This agreement with Zero Carbon Ventures underscores our commitment to advancing the development of low carbon solutions and further supports the UAE’s Net Zero goals.
Having Zero Carbon Ventures based in Masdar City also adds another important area of climate response specialization to our dynamic network of tenants and comes at a particularly pivotal time as we pave the way towards the UAE’s hosting of COP28 in 2023.”
Martin Reynolds, CEO, Zero Carbon Ventures, said, “Zero Carbon Ventures’ mission is to scour the globe to find world-class carbon-reducing innovations that can make a hugely positive impact in Abu Dhabi and the wider UAE. This agreement with Masdar City, one of the key agents of positive climate action in our region, is an extremely important one. We have long been an admirer of the company’s mission and vision and look forward to playing a role to help them achieve their important goals. Everyone at Zero Carbon Ventures is in no doubt that we can achieve great things together.”
Masdar City is already home to more than 1,000 businesses, encompassing a variety of organizations - from multinationals and SMEs to homegrown start-ups, committed to advancing the sustainability agenda and spearheading the innovations to realize greener, more sustainable urban living. These include, among others, the International Renewable Energy Agency (IRENA), the UAE Space Agency, Siemens, G42 Healthcare, the Advanced Technology Research Council (ATRC) and its two pillar entities, Technology Innovation Institute (TII) and ASPIRE, Tabreed, Honeywell, and the world's first university dedicated to artificial intelligence, the Mohamed bin Zayed University of Artificial Intelligence.
About Masdar City
Masdar City in Abu Dhabi is one of the world’s most sustainable developments. It is a working model for cities around the world in environmental, economic, and social sustainability, and continues to push the boundaries of innovation. The City hosts Abu Dhabi’s only planned and approved R&D cluster; Masdar City Free Zone, which is a growing hub for sustainability-focused innovative businesses; and a residential neighborhood with restaurants, shops, sporting facilities and public green spaces. Masdar City is home to companies dedicated to developing innovations across the sectors of renewables, space, energy storage, artificial intelligence, agriculture, health, and mobility. These include, the headquarters of the International Renewable Energy Agency (IRENA), the UAE Space Agency, the regional headquarters of Siemens Energy, G42 Healthcare, the Advanced Technology Research Council, several Fortune 500 companies, hundreds of entrepreneurs, a startup accelerator program via The Catalyst, and the world's first university dedicated to artificial intelligence: the Mohamed bin Zayed University of Artificial Intelligence. Masdar City has also pioneered two generations of autonomous vehicles and continues to extend the frontiers of alternative and sustainable transport.
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About Zero Carbon Ventures
Zero Carbon Ventures is a dynamic team of globally renowned multi-sector business and technology experts, headquartered at Abu Dhabi’s Masdar City. Its mission is to bring world-beating carbon-reducing technologies to the Middle East.
Zero Carbon’s team scours the world to find innovations that can be nurtured, scaled up and deployed to create impactful propositions for the region. It works closely with its partners giving them investment, commercial know-how, and vital connections to Middle Eastern companies to create immediate and long-lasting benefits to all.