(Photo By: Wikimedia Commons)
By: Eliana Rudee - March 19, 2021
In the footsteps of the Abraham Accords, a recently signed partnership between two Israeli and Emirati entities aims to bring greentech innovation to the Gulf region and to Israel.
The deal between Gulf-Israel Green Ventures (GIGV) and the UAE’s United Stars Group aims to expand people-to-people, business and economic cooperation through the exchange of green technologies—solutions that promote sustainability by mitigating the negative environmental impacts of development. These include reducing the use and depletion of resources through water recycling, energy-efficient buildings and renewable energy.
Initial sustainable development projects, according to GIGV, will focus on reducing emissions while building more environmentally friendly economies and societies. In light of explosive growth in submarkets in the Gulf, the partners have already begun work on several large projects. The development of commercial and residential real estate on Sheikh Zayed Road in Dubai is but one project in progress for which the two companies are looking to integrate technologies that will make it more energy-efficient, including through the use of renewable energy. The companies are also examining projects in sectors as diverse as hotels and shipping to power plants.
“Israel is known for its cutting-edge startups in many fields, including greentech,” United Stars group founder and president Omar Al Suwaidi told JNS. “We have had our eye on Israeli greentech and cleantech technologies for quite some time and looking for a partner with deep expertise in this sector in Israel,” he explained. “The leadership of the UAE, through such strategic plans as UAE Vision 2021, UAE Centennial 2071 and the UAE Environment Plan, has set clear and courageous goals for making the UAE a leader in sustainability and green technology will play a major role in achieving these goals.”
Read More: JNS