ELECTRIC VEHICLES-

Nio to set up shop in the UAE: Chinese electric vehicle manufacturer Nio is planning to start offering its products and services in the UAE by the end of this year, in a bid to expand in the Middle East, CNBC cites Nio CEO William Li as saying on an earnings call last week.

REMEMBER- Abu Dhabi-backed CYVN Holdings pledged a USD 2.2 bn equity investment in Nio back in December 2023, following an initial investment of USD 738.5 mn earlier in the year. The holding company’s EV subsidiary Forseven also signed a technology licensing agreement with Nio, granting Forseven the rights to use Nio’s software, technical information, and intellectual property rights to manufacture and develop Nio-branded EVs.

AGRICULTURE-

Abu Dhabi has a new agrifood cluster: Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan approved the launch of the AgriFood Growth and Water Abundance (AGWA) cluster in Abu Dhabi, according to a statement. The cluster, which is being led by the Abu Dhabi Department of Economic Development and the Abu Dhabi Investment Office, seeks to promote alternative proteins, algae, and reverse osmosis technologies to address global food shortages and water scarcity.

AGWA in numbers: The new cluster is expected to attract AED 128 bn in investments and create over 60k jobs by 2045, contributing AED 90 bn to the emirate’s GDP during the period.

BIOFUELS-

Oman to launch first microalgae project to boost biofuel production: Oman intends to launch its first commercial-scale microalgae farming project to support biofuel production, Oman Daily Observer reported on Friday. The initiative will be implemented with an RO 9 mn investment from three companies — Omani waste management firm Net Zero Solutions, Al Tharmad Business and Services Company, and Saudi EPC contractor Green Gulf Industries.

How it’ll work: The project will utilize photobioreactor technology to produce 3.7k tons of biofuel annually through the industrial-scale use of residual CO2, heat, and water, according to the Oman Daily Observer. This approach not only provides renewable feedstock but also aids in carbon capture. The waste biomass left over can also be used for bioplastic production.

Microalgae has been explored by other regional players: Morocco’s Mohammed VI Polytechnic University and the French National Research Institute for Agriculture, Food and Environment signed a letter of intent in April to establish an international lab focused on the valorization of biomass, organic waste, and microalgae for the production of energy, animal feed, and fertilizers.

RECYCLING-

SIRC Group and Hellenic Environmental Center ink MoU for ship recycling services: Saudi Investment Recycling Company (SIRC), which is wholly owned by the Saudi sovereign wealth fund, and Greece’s Hellenic Environmental Center (HEC) have signed an MoU to establish environmental treatment centers for ship recycling services in Saudi Arabia, according to a press release issued on Thursday. The agreement will involve establishing industrial waste treatment facilities after identifying strategic locations based on proximity to industrial centers, transportation infrastructure, and environmental impact.

SIRC is cleaning up KSA: The King Abdullah Financial District Management and Development Company (KAFD) and SIRC signed an MoU back in January to provide solutions for different waste types in KAFD, including construction and demolition materials and foodstuffs. SIRC also teamed up last year with the UAE's Bee'ah and Al-Maqar Development Company (Almqr) to establish a company to develop and provide integrated waste management solutions in Madinah, KSA.

GREEN MANUFACTURING-

Hoffmann Green Cement starts construction on clinker-free cement unit in KSA: French firm Hoffmann Green Cement and Saudi conglomerate Shurfah Group have broken ground on the no-clinker cement maker’s first unit in Saudi Arabia, Hoffman Green Cement said in a statement (pdf) released on Thursday. The start of construction of H-KSA 1 at Rabigh comes less than a year after Shurfah and Hoffman Green Cement signed a 22-year exclusive licensing agreement to build several Hoffmann Green units in the country under efforts to decarbonize the construction sector.

Shurfah will finance, build, and operate: Under the agreement, Shurfah will be tasked with financing, building, and operating four production units across the Kingdom. They will also commercialize the French company’s green cement exclusively. Construction is expected to be completed by the end of 2025.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • Emerge + AJ Steel Pipes partner on solar energy: Emerge, a Masdar and EDF Group JV, has signed an agreement with AJ Steel Pipes to install a 3 MWp rooftop solar plant at the steel manufacturer's Mussafah facilities in Abu Dhabi. Emerge will provide financing and maintenance for 25 years for the plant, which will offset around 2.5k tonnes of emissions and generate over 5 GWh of electricity annually. (Wam)
  • Algeria’s Sonatrach inks MoU with China’s Sinopec on hydrocarbon value chain: Algerian state-owned oil company Sonatrach and China’s leading state oil firm Sinopec signed an agreement on Friday to expand cooperation across the hydrocarbon value chain, including exploration of complex reservoirs, renewable energy, and petrochemicals. (Statement)
  • Tabreed slashed 1.5 mn tons of CO2 emissions in 2023: UAE district cooling firm Tabreed’s operations reduced 2.52 bn kWh of energy consumption from its operations in 2023, preventing 1.5 mn tons of CO2 emissions. The firm has undertaken renewable energy initiatives like the use of geothermal-powered plants and solar energy certificates, and has participated in carbon credit trading and Corporate Social Responsibility (CSR) initiatives. (Statement)
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