CARBON CAPTURE-

UK’s Levidian to manufacture carbon capture tech in in Abu Dhabi: British climate tech firm Levidian intends to establish a manufacturing center in Abu Dhabi for its patented Loop technology, which can help decarbonize hard-to-abate industries by capturing carbon from methane and producing clean hydrogen and high-quality graphene, according to a press release on Thursday. This USD 100 mn investment will create up to 250 jobs and support local industry, as well as facilitate the export of this technology across the Middle East and North Africa.

Levidian is active in the region: The Abu Dhabi Waste Management Center (Tadweer) struck a partnership with Levidian last month to use its Loop technology for decarbonization projects in the UAE and globally. The two companies had already inked an agreement last year to implement a pilot project to decarbonize emissions from Abu Dhabi’s landfills using Levidian’s Loop technology.

GREEN FINANCE-

AfDB greenlights EUR 84 mn for Moroccan climate resilience project: The African Development Bank (AfDB) has approved EUR 84 mn in funding to support a Moroccan project aimed at boosting economic resilience to climate change and improving the water cycle, according to an appraisal project (pdf). The project — which will cover endeavors in Rabat Sale Kenitra, Marrakech Safi, Tangier Tetouan Al Hoceima, and Souss Massa — covers four watersheds and national parks and targets 6.5 mn rural residents. The project will promote sustainable natural resource development, forest value chains, and forestry and aquaculture entrepreneurship.

ELECTRIC VEHICLES-

BYD opens first showroom in KSA: Chinese automaker BYD has opened an outlet in Riyadh, Saudi Arabia with three EVs available for consumers to view and test drive, the company announced on X on Thursday. The Han, BYD Atto 3, and BYD Seal are all available at the store, which includes a showroom, discovery center, and service center.

The specs:

  • The BYD seal, which was released in the UAE in April, is a dual motor electric sedan that generates 523 horsepower with a 520 km range. The BYD Seal can go from 0-100 km in 3.8 seconds and is equipped with curtain airbags, a heads-up display, and shock absorbers. The price starts at SAR 164.9k.
  • The BYD Atto 3 costs SAR 139.9k and is an SUV with 60.5 kWh battery capacity and a Permanent Magnet Sync motor.
  • The BYD Han is a sleek sedan featuring a dual electric motor and a 85.4 kWh battery capacity. The price tag starts at SAR 234.9k.

Branching out following US tariffs: This company is facing challenges entering the US market due to tense Chinese-US relations. The US has gone on the offensive in the brewing trade war with China by announcing a raft of tariff increases on USD 18 bn worth of Chinese imports last month that will each begin taking effect between 2024 and 2026. Tariffs on Chinese EVs will quadruple to 100%, those on lithium-ion EV batteries will more than triple to 25%, and those on solar cells will double to 50%.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • Tunisia + Switzerland to cooperate on Paris Agreement goals: Tunisia and Switzerland announced last week that they are cooperating to achieve the goals of the Paris Climate Agreement, which will involve increasing their climate commitments, speeding up the implementation of their Nationally Determined Contributions (NDCs), and bolstering green investment in Tunisia. (TAP)
  • Oman launches platform for energy investments: Oman’s Ministry of Energy and Minerals has launched Taqa, a digital platform that aims to attract investments to the energy sector. The platform streamlines the investment process by listing investment opportunities and offers services including archiving and bidding, licensing management and revenue collection, contract management, and inspections and site visits. (Statement)
  • Holcim + SLB to collaborate on carbon capture and storage: Sustainable construction solutions company Holcim Algeria has signed an agreement with tech company SLB to partner on carbon capture and storage projects in Algeria. (Al Shorouk)
  • GORD + Qatar’s Waseef partner to advance sustainable building practices: The Gulf Organisation for Research and Development (GORD) and Waseef, a subsidiary of Barwa Real Estate, inked an MoU on Wednesday to collaborate on sustainability, energy efficiency, and carbon reduction. GORD will help Waseef obtain green building certifications and ensure Waseef’s technical practices are in line with sustainability best practices. (Statement)
  • Schneider Electric + Petra Engineering ink digital transformation agreement: Schneider Electric and Petra Engineering Industries have signed a digital transformation agreement to cooperate in increasing energy efficiency, promoting sustainability, and implementing AI into HVAC control systems. (Statement)
  • Volvo launches EX30 EV in Qatar: Domasco Volvo has launched the fully electric Volvo EX30 in Qatar. The EX30, Volvo's first small premium SUV, is now available for booking and expands Volvo's all-electric offerings to four models. Volvo's UAE rep Al-Futtaim Trading Enterprises rolled out the EX30 SUV last December. (Al Bawaba)
  • Lucid expands into UAE: EV maker Lucid Group has opened a new retail location in Dubai’s City Walk and will soon inaugurate a service center in Dubai Investment Park. The store is Lucid’s second in the Middle East and will give visitors a look at their leading vehicle Lucid Air. (Trade Arabia)
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