More infrastructure plays from Mubadala, BNY eyes ADGM digital assets, and yet another defense localization agreement

Mubadala places another energy transition wager

Mubadala Investment Company acquired a minority stake in US-based renewable energy management software platform Power Factors alongside existing investor Vista Equity Partners, which is also US-based, according to a statement. The financial details and stake size were not disclosed.

Why it matters: As renewable portfolios scale, the software used to monitor and optimize wind, solar, and storage assets is becoming increasingly important. Power Factors says its platform manages around 310 GW of capacity across 18k sites internationally, and works with 35 of the 50 top renewable energy producers.

The acquisition comes as Mubadala expands its renewables portfolio globally. Recently, Mubadala Energy acquired a 15% stake in Egypt’s Nargis offshore gas concession from Eni, while Mubadala Investment company invested USD 300 mn to back a takeover of shipping container firm Seaco. It also recently brought an oil country tubular goods manufacturing facility online, and over on the real assets side, a Mubadala-Aldar Properties JV also recently acquired The Link in Masdar City.

In another Mubadala infrastructure play…

The sovereign wealth fund was also among those backing US-based Accelerate, which invests in critical infrastructure, in a USD 630 mn funding round, according to a press release. Mubadala’s specific investment ticket wasn’t disclosed, but this latest round brings Accelerate’s total raised equity to USD 1.3 bn.

The recipient: Accelerate’s strategy centers on taking over infrastructure sites central to the digital, transportation, and renewable sectors, and the fresh funding will go towards expanding its current portfolio of holdings.

BNY is planting a deeper flag in Abu Dhabi

BNY + IHC players partner on ADGM digital assets: US-based financial services giant BNY is teaming up with IHC’s Finstreet and ADI Foundation, the digital arm of IHC’s Sirirus International Holding, to build institutional-grade crypto custody infrastructure out of ADGM, according to a press release.

Who’s doing what? The partnership will see BNY offer its regulated custody services for digital assets including BTC and Ethereum, with plans to later expand into stablecoins and tokenized real-world assets, with the goal of localizing crypto custody services in the UAE. Finstreet will provide the regulated market infrastructure layer, while ADI Foundation contributes the blockchain rails through its ADI Chain network.

ICYMI- Abu Dhabi has been steadily building out its digital finance infrastructure. Just recently, IHC, Sirius International Holding, and First Abu Dhabi Bank got the greenlight to launch DDSC — an AED-backed stablecoin that operates on the ADI blockchain.

The UAE is localizing chiplets for use in targeting and guidance defense systems

US defense player Lockheed Martin will help establish a chiplet design and assembly facility in the UAE under an agreement signed at Make It in the Emirates, state news agency Wam reports. The chiplets will be integrated into advanced targeting and guidance systems by Edge subsidiary Halcon, significantly enhancing the onboard computational power and precision of sovereign defense systems.

The agreement also includes the establishment of a dedicated R&D centre at Khalifa University focused on microelectronics design, talent development, and industry-led research.

Background: Lockheed Martin is becoming a key player in the push to localize defense manufacturing in the UAE, earlier also agreeing to establish a Cybersecurity Center of Excellence aimed at developing sovereign cybersecurity capabilities and build capabilities in the sector. Beyond Lockheed, Edge earlier this week tapped European firms to manufacture high-tech cable harness assemblies, printed circuit boards, electronic components, and turnkey subsystem solutions.