By Muhammad Rafiq
ABU DHABI: The Ministry of Economy has today announced that three companies specialized in clean energy technology from China and the United States have joined the NextGenFDI program, underlining the status of the UAE as a platform for pioneering enterprises and ideas. The companies, which specialize in innovative storage and generation solutions, will contribute to advancing the UAE’s clean-energy goals and support its transition to a more sustainable, low-carbon economy.
The three companies are: Enerflow, a specialist in vanadium flow battery technology, which is promising to lengthen the lifecycles of rechargeable batteries – from four to ten hours – used in clean-energy storage; HyGreen Energy, which is developing water electrolysis hydrogen equipment for a variety of industries, including steel and petrochemical; and Enpower Greentech, which is helping to revolutionize the battery industry with its solid-state batteries (ASSBs), which have been developed in collaboration leading automotive OEMs and eVTOL companies globally.
His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, welcomed the addition of the three companies, and underscored the role the NextGenFDI program is playing in driving innovation in critical industries such as clean energy in the UAE. “The three new members to the NextGen FDI program have each developed pioneering solutions that align with the UAE’s vision for a sustainable, low-carbon future. Their involvement in NextGenFDI underscores our commitment to support strategic investment into high-impact technologies and clean-energy solutions in particular. This will not only support the expansion and growth of these enterprises, it will enhance the clean-tech sector in the UAE as a whole and confirm our status as a global leader sustainability and innovation.”
Since its launch in 2022, the NextGenFDI initiative has sought to attract innovation-led companies from around the world by offering a range of market-entry benefits, including fast-track set-up and licensing, visa issuance and access to financial services. Comapnies also gain the benefit of the growing NextGenFDI network, through which they can share knowledge and support expansion into local and regional markets.
Senior representatives of the three companies expressed their enthusiasm for joining the NextGenFDI initiative. Bo Wang, Chairman of Enerflow stated, “The United Arab Emirates stands as the perfect gateway for expanding into key markets across the Middle East and Europe, offering an unparalleled ecosystem and world-class connectivity. Aligned with our vision for cleaner, more efficient energy solutions, the UAE’s NextGen FDI program presents a unique opportunity for collaboration across multiple industries. As a leader in the vanadium flow battery energy storage industry, we are eager to contribute our expertise to this dynamic region.
“We are particularly enthusiastic about investing in the UAE, including establishing manufacturing facilities that will leverage the nation’s advanced photovoltaic infrastructure and robust chemical, petroleum, and energy production capabilities. Joining the NextGen FDI program reflects our commitment to fostering sustainable innovation, hand in hand with the UAE’s progressive energy landscape,” Wang added. Enerflow is backed by the globally recognized investment fund Hillhouse.
Weiwei Zhang, Secretary of the Board of Directors of HyGreen Energy, confirmed the value of the NextGenFDI initiative. “We are thrilled to join the UAE’s NextGen FDI initiative and to be able to bring our green hydrogen expertise to this forward-thinking nation, one whose commitment to clean energy aligns perfectly with our range of cutting-edge solutions. The support provided by the program will enable us to establish and scale our presence in the UAE, where we aim to contribute to the nation’s energy transition towards a more sustainable, green hydrogen-based future,” she said. HyGreen Energy has installed more than 500 sets of its systems across 24 countries and regions globally, and is the only company possessing three distinct water electrolysis technology pathways: ALK, PEM and AEM in China.
Yani Kong, Shareholder & SVP of Enpower Greentech, said, “We are delighted to join the UAE’s NextGenFDI initiative and introduce our transformative technology to the UAE and the wider region. The pursuit for clean, renewable, and storable energy is a collective challenge, but one that drives innovation across countries and stakeholders. We are excited to continue this journey in partnership with the UAE, a nation committed to climate-tech and low-carbon solutions.”
Launched by the UAE Ministry of Economy, NextGenFDI is aimed at attracting global high-tech companies to the UAE to foster innovation, support the growth of SMEs, and drive the development of sustainable industries. With a focus on sectors such as ICT, healthcare, and advanced manufacturing, the initiative is playing a pivotal role in the UAE’s economic diversification strategy.
