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EVS-
The Energy Ministry and Etihad Water and Electricity (Etihad WE) set up a joint venture to boost EV charging infrastructure in the UAE, according to a press release. The JV, dubbed UAEV, is the first state-owned EV charging network. It seeks to meet the heightened demand for EV infrastructure in the UAE, and boost EV adoption to edge the country in reducing greenhouse gas emissions.
What’s next? Further information about the JV’s plans will be announced by the end of 2024.
NBFS-
Dubai-based fintech DKK Partners partnered with the private office of Sheikh Saeed Bin Ahmed Al Maktoum Seed Group on forex risk management, liquidity solutions, and expedited collections, according to a press release.
Remember: DKK Partners secured preliminary approval from Dubai’s Virtual Assets Regulatory Authority in February to offer its blockchain technologies to crypto investors.
DEFENSE-
#1- Edge-Fincantieri JV established: Abu Dhabi’s Crown Prince has formalized the previously announced joint venture between defense conglomerate Edge Group and Italian shipbuilding giant Fincantieri to manufacture advanced naval vessels, with a commercial pipeline valued at EUR 30 bn, according to the Abu Dhabi Media Office. To christen the agreement, the UAE Coast Guard Forces made a EUR 400 mn order for 10 offshore patrol vessels.
Ownership breakdown: Edge will own 51% of the JV, while Fincantieri will own the remaining balance, alongside managing operations of the company.
#2- French defense tech company Atermes will open its regional headquarters in Dubai, Trade Arabia writes. Atermes will also participate in ISNR Abu Dhabi 2024 taking place between 21-23 May at Adnec.
TRANSPORT-
Archer + Etihad to train air taxi pilots: Electric flying car manufacturer Archer Aviation inked a partnership agreement with Etihad Training to recruit and train a fleet of pilots to operate electric vertical takeoff and landing (eVTOL) aircraft, according to a press release. Under the partnership, California-based Archer will provide an aircraft simulator to Etihad Training at its training center in Abu Dhabi, while Etihad will oversee the training of potential pilots and collaborate with the General Civil Aviation Authority and other local authorities to “establish an appropriate pilot training curriculum,” the press release reads.
REMEMBER- Air taxis are expected to take off in Abu Dhabi and Dubai as soon as next year. Abu Dhabi-headquartered aviation services provider Falcon Aviation inked an agreement with Archer to launch Falcon’s air taxi services between the two emirates by 2025. Meanwhile, Dubai’s Road and Transport Authority inked an agreement in February with electric aircraft developer Joby Aviation to launch air taxi services in the UAE by early 2026, with initial operations as early as 2025.
STARTUPS-
Plain Tiger raises undisclosed seed funding from AngelSpark: Dubai-based B2B marketplace Plain Tiger has secured an undisclosed funding amount from VC AngelSpark as part of its USD 1.5 mn seed round, according to a press release. The e-commerce startup will use the proceeds to fund its expansion plan in Saudi Arabia and develop its marketplace technology, aiming to assist more hotels to lower their carbon footprint through sustainable product procurement.
About Plain Tiger: Founded in 2021, Plain Tiger enables hotels to transition to sustainable supply chains cost-effectively by connecting them with over 300 eco-friendly suppliers and providing access to verified suppliers and ESG data, helping hotels reduce their environmental impact.
WATER-
Sewa completes Al Hafiya lake water connection: Sharjah Electricity, Water, and Gas Authority (Sewa) has developed a water pumping station and extended 4 km of water lines for the Al Hafiya lake project in Kalba, with a total value of AED 27 mn, Wam reports. Sewa has also constructed an underground water tank at Al Hafiya with a capacity to hold 500k gallons of water.
TOURISM-
Umm Al Quwain’s tourism department inked an agreement with Millennium Hotels and Resorts to improve tourism prospects in the emirate through the mutual exchange of expertise on tourism, hospitality and entertainment, Trade Arabia reports.
