Abu Dhabi [UAE], October 31: The Ministry of Economy has announced that SolarSpace, a US-based startup specialising in solar energy generation technology, has joined its NextGen FDI programme and plans to establish regional headquarters in the UAE capital, Abu Dhabi. Founded in Tuscon, Arizona in 2020 by David Vili, the company specializes in off-grid concentrated solar power (CSP), which is able to generate three times the energy of conventional photovoltaic panel systems utilizing only a fifth of the land area.
SolarSpace's solutions, some of which incorporate components designed by engineers at the University of Arizona and NASA, include off-grid charging stations for electric vehicles, which they are currently stress-testing in arid and remote conditions. They are also developing a carbon-neutral water purification and desalination system, which demonstrated to His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, during the World Investment Forum in Abu Dhabi last week. The system, which could reduce the cost of potable water by up to five times, will also be showcased at the United Nations Climate Conference (COP28) held in Dubai in November 2023.
Dr. Thani bin Ahmed Al Zeyoudi heralded the addition of SolarSpace to the NextGen FDI community as both a vital addition to the UAE's burgeoning advanced technology ecosystem as well as further proof of the country's leadership on clean-energy initiatives. "The UAE leadership recognizes the economic and environmental potential of Net Zero, a pledge that is helping to secure our planet for future generations and, in parallel, sparking exciting innovations that have the potential to transform the global economy. I am pleased to see SolarSpace join the NextGen FDI program. Their suite of solutions fully aligns with our commitment to energy transition and this strategic partnership will help advance our clean-energy agenda and deliver not just new sources of energy but new forms of competitive advantage."
David Vili, Founder and CEO of SolarSpace, said: "We are honored to be handpicked for the NextGenFDI national initiative. I personally want to thank His Excellency Dr. Thani bin Ahmed Al Zeyoudi for his immense support to SolarSpace, our big vision and aspiration to bring our cutting-edge solar technology to the UAE and to the MENA region. We are fully committed to long term presence, with plans to make UAE our second home by establishing SolarSpace MENA headquarters. I am confident, together with our UAE friends, colleagues and partners, SolarSpace will become a household name bringing colossal benefits to millions of people around the world."
Launched in 2022, NextGen FDI aims to support the growth of the nation's knowledge-driven economy by enabling rapid incorporation processes to speed up licensing, facilitating the issuance of bulk or golden visas, accelerating banking services, and providing commercial and residential lease incentives for advanced technology companies seeking to relocate to the UAE.
Source: Emirates News Agency