UAE's Positive Zero Secures Major Investment for Decarbonization

In a major development at the close of COP28, Positive Zero, a UAE-based decentralized decarbonization infrastructure business, announced an agreement for a fund managed by BlackRock's Diversified Infrastructure group to invest up to $400 million in the company. This investment aims to support Positive Zero's mission to accelerate sustainable energy adoption across the Gulf Cooperation Council (GCC) region, aligning with efforts to reduce carbon emissions and limit global temperature rise to 1.5 degrees Celsius.

Positive Zero: A Consolidation of Leading Sustainable Energy Companies

Positive Zero emerged from the consolidation of three prominent companies in the sustainable energy sector:

• SirajPower: Boasting the region's largest portfolio of distributed solar energy, with over 140MWp in operation.
• Taka Solutions: Achieved energy savings of more than 100,000MWh across more than eight sectors.
• HYPR Energy: Introduced the region's first clean energy on-demand mobile battery unit, providing cheaper and cleaner power for construction sites and off-grid locations.

Comprehensive Decarbonization Solutions for the GCC Region

Consolidating these businesses under one brand, Positive Zero aims to become an end-to-end provider of a broad range of sustainable technologies and data-driven solutions aimed at reducing carbon footprint, consumption, waste, and costs across diverse industries in the UAE and the GCC region. The company's comprehensive approach integrates decentralized power generation, resource efficiency, and clean mobility, positioning it to meet the increasing demand for decarbonization and energy cost reduction.

Alignment with COP28 Decarbonization Goals

The investment from BlackRock aligns with the ambitious COP28 decarbonization goals:

• Tripling renewable power generation by 2030
• Doubling energy efficiency by 2030

Executive Insights

Mohammed Abdulghaffar Hussain, Co-Founder and Chairman of Positive Zero, emphasized the investment's significance, stating, "The conclusion of COP28 in Dubai marks the beginning of a transformative partnership with BlackRock. This investment not only endorses the region's potential and our innovative business model but also aligns with our mutual aspiration to cultivate a new era in the energy economy."

David Auriau, Co-Founder and CEO of Positive Zero, said, "In the wake of our pivotal partnership with BlackRock, we stand at the threshold of an extraordinary transformation. We're not just creating a sustainable business model; we're molding an ecosystem where sustainability is synonymous with profitability and accessibility."

Ed Winter, Head of APAC and Middle East for Diversified Infrastructure at BlackRock, expressed excitement about the investment, stating, "Decarbonization and decentralization are two key structural trends that we believe present significant investment opportunities, and Positive Zero is well-positioned to capitalize on tailwinds driven by ambitious economic growth and energy transition objectives set by the UAE and other countries in the GCC region."

Leading the Energy Transition in the GCC Region

With its comprehensive offerings, Positive Zero aims to be the leading energy transition partner to its clients and is dedicated to empowering a new energy economy in the UAE and the GCC region. The investment from BlackRock will accelerate Positive Zero's capability to deploy fully financed and cutting-edge sustainable energy solutions tailored for commercial, industrial, and public sector organizations, contributing to the region's decarbonization efforts and energy transition.