The Ministry of Economy of the United Arab Emirates (UAE) has announced a significant development in the country's clean energy landscape. SolarSpace, a US-based startup renowned for its cutting-edge solar technology, is set to join the NextGen FDI program and establish its regional headquarters in Abu Dhabi.
Founded in Tucson, Arizona, in 2020 by David Vili, SolarSpace has gained recognition for its off-grid concentrated solar power (CSP) technology, which boasts the ability to produce three times the energy output of traditional photovoltaic panel systems while utilizing only a fifth of the land area.
SolarSpace offers a diverse array of solutions, including off-grid electric vehicle charging stations, which are currently undergoing rigorous testing in arid and remote conditions. Notably, the company is also in the process of developing a carbon-neutral water purification and desalination system, which recently garnered attention when showcased to His Excellency Dr. Thani bin Ahmed Al Zeyoudi during the World Investment Forum in Abu Dhabi.
This innovative system has the potential to significantly reduce the cost of producing potable water and is scheduled to be presented at the United Nations Climate Conference (COP28) in Dubai in November 2023.
Dr. Thani bin Ahmed Al Zeyoudi commended the inclusion of SolarSpace in the NextGen FDI program, emphasizing the company's valuable contributions to the UAE's advanced technology ecosystem and its leadership in clean energy initiatives. He reaffirmed the UAE's commitment to the energy transition and its collaborative efforts with SolarSpace to advance clean-energy objectives.
David Vili, Founder and CEO of SolarSpace, expressed his gratitude for the support and outlined the company's strategic plans to establish its Middle East and North Africa (MENA) headquarters in the UAE, further underscoring its dedication to introducing innovative solar technology to the region.
The NextGen FDI program, initiated in 2022, is designed to strengthen the UAE's knowledge-driven economy by streamlining incorporation processes, expediting visa issuance, facilitating banking services, and providing incentives for technology companies to establish operations in the UAE.
