{"id":660402,"date":"2025-02-11T00:00:00","date_gmt":"2025-02-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/goinggreens\/mena-investment-in-global-green-climate-tech-falls-in-line-with-broader-trends\/"},"modified":"2025-02-11T00:00:00","modified_gmt":"2025-02-11T00:00:00","slug":"mena-investment-in-global-green-climate-tech-falls-in-line-with-broader-trends","status":"publish","type":"goinggreen","link":"https:\/\/enterpriseam.com\/egypt\/goinggreens\/mena-investment-in-global-green-climate-tech-falls-in-line-with-broader-trends\/","title":{"rendered":"MENA investment in global green climate tech falls, in line with broader trends"},"content":{"rendered":"

MENA <\/strong>invest<\/strong>ments in global climate tech fell 28% y-o-y to USD 3.6 bn in the 12 months <\/strong>leading up to September 2024<\/strong>, according to PwC Middle East\u2019s <\/a>2024 Middle East Climate Tech report<\/a>. The fall comes in line with a broader 29% drop in global climate tech investment, which has brought investment to levels not seen since before 2020.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

Regional investors remain focused on investments outside of the region: <\/strong>While MENA climate tech investors mobilize significant capital, they funnel only a fraction into regional climate tech ventures, the report notes. In contrast to the USD 3.6 bn poured into global climate tech last year, MENA investors only spent USD 43.6 mn on scaling up MENA-based climate tech projects.<\/p>\n

Global interest in MENA climate tech also took a dip<\/strong>, with global investment in the region\u2019s climate tech sector falling 41% y-o-y to USD 114 mn in the 12 months ending in September 2024.<\/p>\n

Where are MENA climate investors putting their money?<\/strong> China and North America topped the list of MENA investment destinations, with regional investors funneling USD 2.2 bn into Chinese climate tech and USD 1 bn into US climate tech. MENA investments in Chinese climate tech projects saw strong growth during the period, tripling from the USD 739 mn recorded in the same period in 2023 on the back of continued interest in the region to leverage Chinese technological expertise and scalability, particularly in the EV sector. <\/p>\n

The bulk of investment is coming from the GCC: <\/strong>The UAE, Saudi Arabia, and Qatar were \u2014 unsurprisingly \u2014 the biggest investors in climate tech during the 12 months ending in September 2024, primarily through sovereign investment funds, which made up the top three investors by investment value. Abu Dhabi-owned CYVN, Saudi PIF subsidiary Ayar Third Investment Company, and the Qatar Investment Authority snagged these top three spots, accounting for over 89% of investment value during the period.<\/p>\n

The UAE was the region\u2019s top climate investor:<\/strong> The UAE increased its global climate investments by 138% y-o-y, securing its spot as the top regional investor in 2024. The increase was driven by two major investments \u2014 CYVN Holdings\u2019 promised USD 2.2 bn equity investment<\/a> in Chinese EV manufacturer Nio and Abu Dhabi\u2019s USD 129 mn stake purchase in nuclear fusion tech company Zap Energy, according to the report.<\/p>\n

The EV sector drove investment:<\/strong> Electric mobility sector investments accounted for 84% of MENA investors\u2019 global climate tech investment in the 12 months ending in September 2024 \u2014 largely as a result of CYVN\u2019s investment in Nio and Ayar\u2019s USD 750 mn stake increase in American EV manufacturer Lucid Group. The report noted that strategic investments in EV technologies were set to bring \u201cessential intellectual property, technological expertise and high-skilled jobs to the region,\u201d helping regional countries adapt to new economic and environmental realities.<\/p>\n

AI-related climate tech was also a key global investment area for MENA investors<\/strong>, with investment in AI climate tech projects more than doubling on a yearly basis to USD 2.4 bn. Nearly 96% of MENA\u2019s funding in global AI-related climate tech was directed toward autonomous vehicles. <\/p>\n

Meanwhile, global investment in regional AI-related climate tech saw a massive increase: <\/strong>Global investment in MENA-based, AI-related climate tech increased almost ninefold from USD 5.3 mn in 2023, reaching USD 47.3 mn during the 12-month period. <\/p>\n

\n

THE EGYPT ANGLE-<\/p>\n

Egyptian climate tech investors\u2019 priorities are largely in line with their GCC counterparts<\/strong>, with significant investments going to the EV market and concrete steps being taken to turn the country into an AI hub.<\/p>\n

Gov\u2019t efforts to promote EV investment and localization have been bearing fruit: <\/strong>Throughout 2024, the government made strides toward its goal of increasing the market share of private EVs<\/a> to 50% by 2040. Among the developments on this front were Ezz Elarab Group\u2019s launch<\/a> of a new Volvo EV that was announced in December.<\/p>\n

More imported models are on their way:<\/strong> Abou Ghaly Motors will bring in the Subaru Solterra at the end of this year<\/a>, while Alkan Auto is also preparing to launch BAIC subsidiary Arcfox\u2019s EVs to the market in 1Q 2025. Meanwhile, National Automotive Company\u2019s (NATCO) plans to launch distribution<\/a> of Chinese Neta Auto EVs by mid-2025.<\/p>\n

Locally-produced EV batteries are also in the offing: <\/strong>Local EV startup Shift EV will soon<\/a>supply<\/a> Raya Holding\u2019s automotive unit Raya Auto with locally-produced batteries for Raya\u2019s light EVs, a move that the company said marks \u201cthe first regional alliance capable of deep localization of electric mobility technology as Egypt moves towards expanding its industrial base.\u201d<\/p>\n

Expanding Egypt\u2019s AI footprint is also on the government\u2019s agenda<\/strong>, with the recently<\/a>announced<\/a> National Artificial Intelligence Strategy 2.0 aiming to create a dynamic investment environment by offering incentives to attract venture capital, supporting AI startups, and encouraging the growth of AI unicorns, all while developing homegrown tech talent.<\/p>\n","protected":false},"excerpt":{"rendered":"

Global investment in MENA climate tech also dropped 41% y-o-y to USD 114 mn<\/p>\n","protected":false},"featured_media":660403,"template":"","categories":[7266],"tags":[72,7109,65],"class_list":["post-660402","goinggreen","type-goinggreen","status-publish","has-post-thumbnail","hentry","category-going-green","tag-enterpriseam","tag-going-green","tag-investment","wpautop","entry"],"acf":{"mongo_id":"488c2def-8416-4804-8e4b-49adaa01e1ca","order":"14","is_powered_by":false,"story_type":"2","photo_url":"https:\/\/ent.news\/2025\/2\/929.jpg","photo_position":"above","homepage_title":"","full_issue_title":"MENA investment in global green climate tech falls, in line with broader trends","related_issue":[660377],"teaser":"Global investment in MENA climate tech also dropped 41% y-o-y to USD 114 mn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.95df44b8-ea6f-4689-b69a-0900e9ab8f51.mp3"},"yoast_head":"\nMENA investment in global green climate tech falls, in line with broader trends - 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