Mensha Ventures, with an unwavering commitment to advancing the global transition towards clean energy, has signed a Memorandum of Understanding with strategic partners from China to bolster UAE’s capabilities in sustainability and infrastructure.
During the Annual Investment Meeting held in Abu Dhabi, an MoU was signed among the Asia Development & Investment Bank, Hoover Investment Group, and Shenzhen Sinomaster Investment Group (SMT). This partnership has committed to a collaborative investment of $1 billion in green energy and infrastructure projects in the UAE.
The signing was witnessed by several high-ranking officials, including Annual Investors Meeting President Dawood Al Shezawi and His Excellency Thani Al Zeyoudi, Minister of State for Foreign Trade of the UAE.
Carbon footprint reduction
The primary goal of this collaboration is to bolster the UAE’s sustainable capabilities and capacity by developing green energy infrastructure projects. All the partners aim to contribute to the UAE’s renewable energy targets while actively reducing its carbon footprint. By leveraging their collective expertise, the partnership seeks to create a lasting impact on the environment and society.
New avenues for sustainable investment
This partnership opens new avenues for sustainable investment and collaboration in the region while driving economic growth in line with the UAE’s vision for a sustainable future. It marks a significant milestone in the UAE’s journey toward achieving greater sustainability.
Green Tech Fund
In addition to this groundbreaking partnership, Mensha Ventures Chairwoman, Dr. Tan, and the Asian Development & Investment Bank (ADIB) representative Mr. Sun, signed an MoU to launch the Green Tech Fund.
The fund’s primary focus will be to build portfolio companies with global expertise and best-in-class industry knowledge in green technology in the GCC. With the support of Chinese leading innovation and specialized manufacturing, the Green Tech Fund will drive cutting-edge sustainable solutions into the local ecosystem.
New energy sectors
The Green Tech Fund will specialize in New energy sectors including EV infrastructure, engineering, storage, and transportation. Emphasizing the transition to clean energy through electrical and green hydrogen means, the fund will actively contribute to the movement toward a sustainable future. Mensha Ventures and its strategic partners will act as advocates and ambassadors for this global transition, particularly within the GCC region.
Early stage funding
The Fund provides early-stage funding for scalable, high-growth-potential companies to enhance their prospects and accelerate returns for investors in line with its globally diversified investment vision. The Fund will also provide funding for high-growth-potential companies that are in accordance with the UAE 2030 vision primarily the Abu Dhabi Vision 2030 and the Dubai Industrial Strategy 2030.
Sustainable solutions in GCC
The GCC region has witnessed significant progress in adopting sustainable solutions, with countries actively working to reduce their carbon footprint. The Green Tech Fund will play a vital role in this transition. It will invest in innovative green technology projects and drive sustainable solutions throughout the region’s ecosystem.
The launch of the Green Tech Fund represents a significant milestone in the region’s sustainability efforts. One of the main focuses of the Green Tech fund is to help build and enhance infrastructure. It will create accessible electric vehicle charging stations for consumers that will help facilitate the gradual shift to a more sustainable and eco-friendly world.
By harnessing the collective expertise of Mensha Ventures and the Asian Development & Investment Bank, the Green Tech Fund aims to make a lasting impact on the environment and society, furthering the vision of a sustainable future.