The company also signed a MoU with Asian Development & Investment Bank (ADIB) to launch their new Green Tech Fund
Mensha Ventures, signed a Memorandum of Understanding (MoU) with its strategic partners from China, including the Asia Development & Investment Bank, Hoover Investment Group and Shenzhen Sinomaster Investment Group (SMT), to jointly invest $1 billion in green energy infrastructure projects in the region. The MoU was signed in the presence of HE Dr. Thani Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade on the sidelines of Annual Investment Meeting which runs in Abu Dhabi.
The primary objective of this partnership is to bolster the UAE's sustainable capabilities and capacity by developing green energy infrastructure projects. This initiative will help the UAE achieve its renewable energy targets while reducing its carbon footprint. This partnership will help the companies leverage its collective expertise to create a lasting impact on the environment and society.
While this partnership is expected to open up new avenues for sustainable investment opportunities in the region, it will also drive economic growth and contribute to the UAE's vision for a sustainable future. Overall, this partnership between Mensha Ventures and its strategic partners from China marks a significant milestone in the UAE's efforts to achieve a sustainable future.
Further to the above, Mensha Ventures Chairwoman Dr Tan and the Asian Development & Investment Bank (ADIB) Mr Sun have signed an MoU to launch their new Green Tech Fund. The fund will have a primary focus in the GCC and aims to build portfolio companies with global expertise and best-in-class industry knowledge in Green Technology. Leveraging Chinese leading innovation and specialized manufacturing, the focus sectors will drive cutting-edge sustainable solutions into the local ecosystem.
The Green Tech Fund's focus sectors will specialize in New Energy, including EV infrastructure, engineering, storage, and transportation. It will emphasize the transition to clean energy through the means of electrical and green hydrogen energy. Mensha Ventures will be advocates and ambassadors, along with its strategic partners, in the movement of transitioning to a sustainable future globally, and importantly, here in the GCC.
The GCC region has seen a significant push towards sustainable solutions in recent years, with countries in the region aiming to reduce their carbon footprint and achieve their renewable energy targets. The Green Tech Fund aims to play a vital role in this transition by investing in innovative green technology projects and driving sustainable solutions into the region's ecosystem.
Overall, the launch of the Green Tech Fund marks a significant milestone in the region's efforts to achieve a sustainable future. By bringing together the collective expertise of Mensha Ventures and the Asian Development & Investment Bank, the Green Tech Fund aims to make a lasting impact on the environment and society.