UAE – Mubasher: Hub71, a tech ecosystem supported by Abu Dhabi government and Mubadala Investment Company, has signed a partnership agreement with Siemens Energy to enhance cleantech and climatetech in Abu Dhabi.
Hub71 and Siemens Energy will back startups to develop technologies that directly address global climate change, according to a recent press release.
The partnership comes in line with the UAE’s vision to achieve net-zero by 2050 and its hosting of the 28th session of the conference of the parties (COP 28) in 2023.
In addition, the collaboration will endorse the UAE government’s investments in green infrastructure and clean energy projects locally and globally.
Upon the deal, the two entities will select prominent cleantech and climatetech startups to explore investment opportunities that accelerate the clean energy transition.
Siemens Energy will team up with experienced startups to develop sustainable, reliable, and affordable clean energy technologies. It will also participate in Hub71’s programmes that focus on expanding market access as well as possible fundraising.
Badr Al Olama, Acting CEO of Hub71, said: “Our partnership with Siemens Energy reinforces the importance of energy transition as the world pivots towards more sustainable and renewable energy sources.”
Al Olama added: “The powerful combination of technology and entrepreneurship raises our ability to address global challenges and, by capitalizing on the expertise of Siemens Energy, we will focus our efforts to attract leading cleantech and climatetech startups to establish a presence in Hub71 so that we can pool our combined efforts towards reducing emissions and promoting a low carbon economy.”
