Gulf Updates: Saudi PIF's Hydrogen Fuel Business and MENA Business Landscape Insights
Key Ideas
  • Saudi PIF's Energy Solutions Co. is investing in low-carbon hydrogen projects and co-investing in green and blue hydrogen developments in Saudi Arabia.
  • Omani startup 44.01 secures $37 million to commercialize its carbon capture solution turning CO2 into rock, attracting investors like the Climate Pledge Fund and Breakthrough Energy Ventures.
  • Abu Dhabi's Masdar plans to expand global green bond offerings while Saudi Arabia's economic growth prospects are impacted by oil production cuts.
  • Mubadala-backed Aldar Properties partners with DP World for a Dubai logistics park, enhancing UAE's position in the global supply chain and food security initiatives.
The Gulf region is experiencing significant developments, with Saudi PIF's Energy Solutions Co. entering the hydrogen fuel business to focus on low-carbon projects in the kingdom, alongside investments in green and blue hydrogen developments with Saudi Aramco. In Oman, startup 44.01 is making strides in carbon capture by securing $37 million in funding to commercialize its CO2-to-rock solution, supported by prominent investors like the Climate Pledge Fund and Breakthrough Energy Ventures. Meanwhile, Abu Dhabi's Masdar is planning to expand its green bond offerings to support global expansion efforts, while Saudi Arabia's economic growth faces challenges due to oil production cuts. Additionally, Mubadala-backed Aldar Properties has partnered with DP World to develop a massive logistics park in Dubai, aiming to cater to the e-commerce demand and bolster the UAE's role in the global supply chain and regional food security initiatives.
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