M&A WATCH-

Industrial gases and engineering giant Linde acquired Airtec, one of the largest industrial gas companies in the Middle East, according to a press release. Linde, which saw USD 33 bn in sales in 2024, upped its stake in the gas firm to over 90% from 49%. Airtec provides industrial gases for a range of sectors, including manufacturing, healthcare, and energy — its MENA-focused operations are set to boost Linde’s regional presence.

Linde’s current Middle East operations include air separation units, CO2plants, and onsite gas generation facilities to produce industrial, medical, and specialty gases across Kuwait, the United Arab Emirates, Qatar, Bahrain and Saudi Arabia. The move looks to strengthen Linde’s supply chain resilience in the region, which is seeing growing demand for industrial gases, the firm said.

HOSPITALITY-

Construction underway at RRS’ USD 100 mn RAK residential project: UAE-based luxury real estate developer RRS International Development started building work on its USD 100 mn mixed-use residential project in Ras Al Khaimah’s Al Marjan Island, Arabian Business reports. The project is RSS’ first in the emirate after its debut in Dubai.

About the development: NH Collection Ras Al Khaimah Al Marjan Island Hotel and Apartments includes 36 branded apartments and 121 hotel keys, alongside lifestyle amenities. The development was created in partnership with Minor Hotels.

STARTUPS-

Abu Dhabi’s tech startup ecosystem Hub71 selected 26 startups for its latest cohort — its largest yet — with combined funding of USD 223 mn (AED 818 mn), according to a statement. Some 81% of the companies are AI-focused firms working in healthtech, fintech, energy, and climate tech. The cohort was chosen from over 2k applications across 12 countries, with 74% headquartered outside the UAE.

Notable entrants include:

  • Harmonic Discovery, a US-based biotech using AI to design precision therapies for hard-to-treat diseases, which has raised USD 8.5 mn (AED 31.2 mn);
  • Planys Technologies, an Indian developer of autonomous underwater inspection robots, which raised USD 7.2 mn (AED 26.4 mn);
  • SunGreenH2, a Singapore company building high-efficiency electrolyzers for green hydrogen, which raised USD 6.6 mn (AED 24.2 mn);
  • Resolv Labs, a UAE-based crypto investment platform, which raised USD 12.5 mn (AED 46 mn).

SUSTAINABILITY-

DoE launches initiative to support 100 industry firms: Abu Dhabi Energy Department (DoE) has launched Energy Efficiency Accelerators — part of its Industrial Sector Initiative — to optimize factory operations in the industrial sector, according to the Abu Dhabi Media Office.

The details: Technical evaluations will identify ways to cut down on energy and water consumption in industrial facilities, with the participating firms receiving specialized analysis and recommendations. The program targets key industrial sectors including construction materials, F&B, metals, paper industries, rubber and plastics, and the chemical and pharma industries.

The timeline: The DoE has completed assessments for 12 industrial facilities, with work on a further 14 underway. The goal is to finalize 50 assessments by the end of 2025, with the remainder to follow in 2026.

MANUFACTURING-

Emirates Global Aluminium (EGA)finalized the expansion of its Al Taweelah alumina refinery, upping the refinery’s annual capacity by 50k tons per annum (tpa), according to a press release. The expansion included the installation of a third ball mill at the refinery to support the existing two.

BACKGROUND- Al Taweelah has produced 2 mtpa since it started up in 2019, and produced 49% of the firm’s alumina last year.The extra mill is set to improve EGA’s bauxite supply chain production and resilience, after it exited its operations inGuinea and prepares for expansions elsewhere, including Ghana.

DEFENSE-

Edge expands Brazil footprint with new Siatt HQ: Edge Group’s Brazilian subsidiary Siatt opened a new 6k sqm headquarters and production facility in São José dos Campo, Wam reports. The site includes R&D labs, engineering facilities, and production lines, and is expected to create 200 direct and 600 indirect jobs.

BACKGROUND- Edge acquired a 50% stake in Siatt in 2023, marking its first investment in Brazil. Siatt develops defense systems including the Mansup and Mansup-ER anti-ship missiles, the Max 1.2 AC anti-tank missile, and Brazil’s Blue Amazon coastal surveillance program.

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