The aim of the investment company will be to look for opportunities linked to R&D and innovation. DEWA’s standing as a leading utility, and a sustainability and energy leader is looking to be enhanced in the Middle East, North Africa and the Gulf Cooperation Council region.
“The launch of the new investment company supports the National Innovation Strategy, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, to make the UAE one of the most innovative countries in the world. DEWA gives priority to innovation, R&D, sustainability and renewable energy. JEI Silicon Valley will be instrumental in helping DEWA to achieve its vision to become a sustainable innovative world-class utility,” said Al Tayer at the announcement of the subsidiary.
He continued “Strategically located in Silicon Valley, JEI Silicon Valley will look for investment opportunities into start-ups with technologies that are of interest to DEWA, and establish and maintain institutional relations with venture capitalist firms and investment funds to expand the reach of DEWA’s investment portfolio. In R&D, JEI Silicon Valley will identify and build new strategic relationships with R&D centres, universities and research bodies, promote relations with existing partners, and enable direct access to cutting-edge market and industry information to shape new projects and technology focus areas. As an investment company, JEI Silicon Valley will create direct links with the start-up network in Silicon Valley, California and all over the United States, allowing direct communications with start-ups,”
“We are also establishing the largest government accelerator programme in the world, based on a clear framework, innovation, and R&D. This is being done with incubators to identify solutions, and develop renewable energy technologies. We are always working to keep up with the latest international practices, to promote the UAE and Dubai, and to ensure a brighter future for generations to come. DEWA also uses the best international R&D practices for the production, transmission, and distribution of electricity and water services. These are world-class, enhance living standards, and work to achieve the happiness of the community,” added Al Tayer.
“We are currently working to establish an R&D centre at the Mohammed bin Rashid Al Maktoum Solar Park, with a total investment of AED 500 million up to 2020. The work of the centre revolves around four main areas of operation, which include the production of electricity from solar power, smart grid integration, energy efficiency, and water. The centre’s internal laboratories will conduct research on Unmanned Aerial Vehicles (UAVs), 3D printing, power electronics and energy efficiency. We will also have external laboratories to test pilot projects and prototypes, conduct field tests on new equipment and technologies, with a focus on removing dust from solar panels, to efficiently produce clean energy while reducing costs,” concluded Al Tayer.