The Ministry of Economy has announced that SolarSpace, a US-based startup specialising in solar energy generation technology, has joined the NextGen FDI program and is planning to establish its regional headquarters in Abu Dhabi, the capital of the United Arab Emirates (UAE).
SolarSpace, founded in Tucson, Arizona in 2020 by David Vili, specialises in off-grid concentrated solar power (CSP) technology. This CSP technology is capable of generating three times the energy of conventional photovoltaic panel systems while utilising only a fifth of the land area.
SolarSpace’s solutions, which incorporate components designed by engineers from the University of Arizona and NASA, include off-grid charging stations for electric vehicles, which are currently undergoing stress testing in arid and remote conditions. The company is also developing a carbon-neutral water purification and desalination system, which was demonstrated to His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, during the World Investment Forum in Abu Dhabi. This system has the potential to reduce the cost of potable water by up to five times and will be showcased at the United Nations Climate Conference (COP28) to be held in Dubai in November 2023.
Dr. Thani bin Ahmed Al Zeyoudi welcomed SolarSpace to the NextGen FDI community, emphasising the significance of the company’s addition to the UAE’s advanced technology ecosystem and its alignment with the country’s clean-energy initiatives. He highlighted the UAE’s commitment to Net Zero and its potential to spark innovations that could transform the global economy.
David Vili, Founder and CEO of SolarSpace, expressed his gratitude for the support and outlined the company’s plans to establish its MENA headquarters in the UAE. He believes this strategic partnership will help advance the clean-energy agenda and bring significant benefits to people around the world.
The NextGen FDI program, launched in 2022, is aimed at supporting the growth of the UAE’s knowledge-driven economy by providing various incentives and facilitations for advanced technology companies looking to establish a presence in the country. These include expediting licensing processes, facilitating visa issuance, accelerating banking services, and offering lease incentives for commercial and residential properties.
