The company was set up by Creek Capital last year through a merger of solar company SirajPower, energy efficiency services business Taka Solutions and on-demand battery company HYPR Energy. Photo: Positive Zero
The company was set up by Creek Capital last year through a merger of solar company SirajPower, energy efficiency services business Taka Solutions and on-demand battery company HYPR Energy. Photo: Positive Zero
The company was set up by Creek Capital last year through a merger of solar company SirajPower, energy efficiency services business Taka Solutions and on-demand battery company HYPR Energy. Photo: Positive Zero
The company was set up by Creek Capital last year through a merger of solar company SirajPower, energy efficiency services business Taka Solutions and on-demand battery company HYPR Energy. Photo: Pos

BlackRock to invest up to $400m in UAE’s decarbonisation company Positive Zero


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BlackRock, the world’s largest asset manager, will invest up to $400 million in Dubai-based decarbonisation company Positive Zero through a diversified infrastructure fund.

The investment will support Positive Zero’s goal to grow sustainable energy adoption across the GCC, in line with efforts to reduce carbon emissions and limit global warming, the company said on Monday.

The company was set up by Creek Capital last year through a merger of solar company SirajPower, energy efficiency services business Taka Solutions and on-demand battery company HYPR Energy.

“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,” said Mohammed Hussain, co-founder and chairman of Positive Zero.

“We are set on a journey to achieve the ambitious Cop28 targets of tripling renewables and doubling efficiency by 2030.”

At the UN climate summit that ended last week, countries agreed to work together to triple the world’s current renewable energy generation capacity to at least 11,000 gigawatts by 2030, considering different starting points and national circumstances.

They will also aim to double the global average annual rate of energy efficiency improvements to 4 per cent, from 2 per cent currently, amid efforts to limit the global temperature rise to 1.5°C above pre-industrial levels, the key Paris Agreement goal.

“We are very excited about our investment in Positive Zero on behalf of our clients,” said Ed Winter, BlackRock's Asia Pacific and Middle East head for diversified infrastructure.

“Positive Zero is well-positioned to capitalise on tailwinds driven by ambitious economic growth and energy transition objectives set by the UAE and other countries in the GCC region.”

  • Henrietta Moon, founder of Finnish start-up Carbo Culture, says carbon removal technology companies are valuable. Chris Whiteoak / The National
    Henrietta Moon, founder of Finnish start-up Carbo Culture, says carbon removal technology companies are valuable. Chris Whiteoak / The National
  • Carbo Culture uses bio-char generated from dust pellets and waste wood to lock in carbon. Photo: Carbo Culture
    Carbo Culture uses bio-char generated from dust pellets and waste wood to lock in carbon. Photo: Carbo Culture
  • The company aims to extract 3,000 tonnes of carbon dioxide from the atmosphere. Photo: Carbo Culture
    The company aims to extract 3,000 tonnes of carbon dioxide from the atmosphere. Photo: Carbo Culture
  • It has plants in the US and Europe and its bio-char can be used to improve soil quality. Photo: Carbo Culture
    It has plants in the US and Europe and its bio-char can be used to improve soil quality. Photo: Carbo Culture
  • Jolis Nduwimana, an entrepreneur from Burundi, says he built connections at Cop28 to support his sustainability ambitions. Khushnum Bhandari / The National
    Jolis Nduwimana, an entrepreneur from Burundi, says he built connections at Cop28 to support his sustainability ambitions. Khushnum Bhandari / The National
  • His start-up Wege collects plant, banana and paper waste from 15,200 small-scale farms that would otherwise be burnt. Photo: Jolis Nduwimana
    His start-up Wege collects plant, banana and paper waste from 15,200 small-scale farms that would otherwise be burnt. Photo: Jolis Nduwimana
  • The waste is boiled in vats and transformed into eco-friendly bags. Photo: Jolis Nduwimana
    The waste is boiled in vats and transformed into eco-friendly bags. Photo: Jolis Nduwimana
  • The company now makes 500 eco-friendly bags each day with ambition to grow to 2,000. Photo: Jolis Nduwimana
    The company now makes 500 eco-friendly bags each day with ambition to grow to 2,000. Photo: Jolis Nduwimana
  • A Burundi ban on plastic bags set Mr Nduwimana thinking about a solution. Photo: Jolis Nduwimana
    A Burundi ban on plastic bags set Mr Nduwimana thinking about a solution. Photo: Jolis Nduwimana
  • The team spends hours separating paper, banana and rice waste before its converted to pulp. Photo: Jolis Nduwimana
    The team spends hours separating paper, banana and rice waste before its converted to pulp. Photo: Jolis Nduwimana
  • The waste would otherwise be burnt or rot in landfills. Photo: Jolis Nduwimana
    The waste would otherwise be burnt or rot in landfills. Photo: Jolis Nduwimana
  • The pulp is dried in the sun before being used to make bags. Photo: Jolis Nduwimana
    The pulp is dried in the sun before being used to make bags. Photo: Jolis Nduwimana
  • Wege sells the bags to boutiques and pharmaceutical companies Photo: Jolis Nduwimana
    Wege sells the bags to boutiques and pharmaceutical companies Photo: Jolis Nduwimana

BlackRock is among the institutional investors backing the UAE’s $30 billion climate fund called Alterra, which aims to raise $250 billion globally in the next six years.

“Decarbonisation and decentralisation are two key structural trends that we believe presents significant investment opportunities,” Mr Winter said.

By 2030, emerging markets and developing economies will require $2.4 trillion every year to address climate change, according to the Climate Policy Initiative.

Meanwhile, Deloitte has said investment of $5 trillion to $7 trillion a year is needed until 2050 in the energy sector to drive the transition but less than $2 trillion is currently spent each year.

The bio

Favourite food: Japanese

Favourite car: Lamborghini

Favourite hobby: Football

Favourite quote: If your dreams don’t scare you, they are not big enough

Favourite country: UAE

How to help

Send “thenational” to the following numbers or call the hotline on: 0502955999
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Mercedes-AMG GT 63 S E Performance: the specs

Engine: 4.0-litre twin-turbo V8 plus rear-mounted electric motor

Power: 843hp at N/A rpm

Torque: 1470Nm N/A rpm

Transmission: 9-speed auto

Fuel consumption: 8.6L/100km

On sale: October to December

Price: From Dh875,000 (estimate)

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

SPEC%20SHEET
%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Apple%20M2%2C%208-core%20GPU%2C%2010-core%20CPU%2C%2016-core%20Neural%20Engine%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2013.3-inch%20Retina%2C%202560%20x%201600%2C%20227ppi%2C%20500%20nits%2C%20True%20Tone%2C%20wide%20colour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F16%2F24GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStorage%3A%3C%2Fstrong%3E%20256%2F512GB%20%2F%201%2F2TB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20Thunderbolt%203%20(2)%2C%203.5mm%20audio%3B%20Touch%20Bar%20with%20Touch%20ID%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%206%2C%20Bluetooth%205.0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%2058.2Wh%20lithium-polymer%2C%20up%20to%2020%20hours%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECamera%3A%3C%2Fstrong%3E%20720p%20FaceTime%20HD%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20Support%20for%20HDR%20with%20Dolby%20Vision%2C%20HDR10%2C%20ProRes%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAudio%3A%3C%2Fstrong%3E%20Stereo%20speakers%20with%20HDR%2C%20wide%20stereo%2C%20Spatial%20Audio%20support%2C%20Dolby%20support%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20MacBook%20Pro%2C%2067W%20power%20adapter%2C%20USB-C%20cable%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh5%2C499%3C%2Fp%3E%0A
Dengue%20fever%20symptoms
%3Cul%3E%0A%3Cli%3EHigh%20fever%3C%2Fli%3E%0A%3Cli%3EIntense%20pain%20behind%20your%20eyes%3C%2Fli%3E%0A%3Cli%3ESevere%20headache%3C%2Fli%3E%0A%3Cli%3EMuscle%20and%20joint%20pains%3C%2Fli%3E%0A%3Cli%3ENausea%3C%2Fli%3E%0A%3Cli%3EVomiting%3C%2Fli%3E%0A%3Cli%3ESwollen%20glands%3C%2Fli%3E%0A%3Cli%3ERash%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3EIf%20symptoms%20occur%2C%20they%20usually%20last%20for%20two-seven%20days%3C%2Fp%3E%0A
What%20is%20Dungeons%20%26%20Dragons%3F%20
%3Cp%3EDungeons%20%26amp%3B%20Dragons%20began%20as%20an%20interactive%20game%20which%20would%20be%20set%20up%20on%20a%20table%20in%201974.%20One%20player%20takes%20on%20the%20role%20of%20dungeon%20master%2C%20who%20directs%20the%20game%2C%20while%20the%20other%20players%20each%20portray%20a%20character%2C%20determining%20its%20species%2C%20occupation%20and%20moral%20and%20ethical%20outlook.%20They%20can%20choose%20the%20character%E2%80%99s%20abilities%2C%20such%20as%20strength%2C%20constitution%2C%20dexterity%2C%20intelligence%2C%20wisdom%20and%20charisma.%20In%20layman%E2%80%99s%20terms%2C%20the%20winner%20is%20the%20one%20who%20amasses%20the%20highest%20score.%3C%2Fp%3E%0A
The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Story%20behind%20the%20UAE%20flag
%3Cp%3EThe%20UAE%20flag%20was%20first%20unveiled%20on%20December%202%2C%201971%2C%20the%20day%20the%20UAE%20was%20formed.%C2%A0%3C%2Fp%3E%0A%3Cp%3EIt%20was%20designed%20by%20Abdullah%20Mohammed%20Al%20Maainah%2C%2019%2C%20an%20Emirati%20from%20Abu%20Dhabi.%C2%A0%3C%2Fp%3E%0A%3Cp%3EMr%20Al%20Maainah%20said%20in%20an%20interview%20with%20%3Cem%3EThe%20National%3C%2Fem%3E%20in%202011%20he%20chose%20the%20colours%20for%20local%20reasons.%C2%A0%3C%2Fp%3E%0A%3Cp%3EThe%20black%20represents%20the%20oil%20riches%20that%20transformed%20the%20UAE%2C%20green%20stands%20for%20fertility%20and%20the%20red%20and%20white%20colours%20were%20drawn%20from%20those%20found%20in%20existing%20emirate%20flags.%3C%2Fp%3E%0A
EMERGENCY PHONE NUMBERS

Estijaba – 8001717 –  number to call to request coronavirus testing

Ministry of Health and Prevention – 80011111

Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre

Emirates airline – 600555555

Etihad Airways – 600555666

Ambulance – 998

Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries

Results

Ashraf Ghani 50.64 per cent

Abdullah Abdullah 39.52 per cent

Gulbuddin Hekmatyar 3.85 per cent

Rahmatullah Nabil 1.8 per cent

UAE currency: the story behind the money in your pockets
Super Saturday race card

4pm: Mahab Al Shimaal Group 3 | US$350,000 | (Dirt) | 1,200m
4.35pm: Al Bastakiya Listed | $300,000 | (D) | 1,900m
5.10pm: Nad Al Sheba Turf Group 3 | $350,000 | (Turf) | 1,200m
5.45pm: Burj Nahaar Group 3 | $350,000 | (D) | 1,600m
6.20pm: Dubai City of Gold Group 2 | $300,000 | (T) | 2,410m
6.55pm: Al Maktoum Challenge Round 3 Group 1 | $600,000 | (D) | 2,000m
7.30pm: Jebel Hatta Group 1 | $400,000 | (T) | 1,800m

FIXTURES

Thu Mar 15 – West Indies v Afghanistan, UAE v Scotland
Fri Mar 16 – Ireland v Zimbabwe
Sun Mar 18 – Ireland v Scotland
Mon Mar 19 – West Indies v Zimbabwe
Tue Mar 20 – UAE v Afghanistan
Wed Mar 21 – West Indies v Scotland
Thu Mar 22 – UAE v Zimbabwe
Fri Mar 23 – Ireland v Afghanistan

The top two teams qualify for the World Cup

Classification matches
The top-placed side out of Papua New Guinea, Hong Kong or Nepal will be granted one-day international status. UAE and Scotland have already won ODI status, having qualified for the Super Six.

Thu Mar 15 – Netherlands v Hong Kong, PNG v Nepal
Sat Mar 17 – 7th-8th place playoff, 9th-10th place playoff

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Scoreline

Al Wasl 1 (Caio Canedo 90 1')

Al Ain 2 (Ismail Ahmed 3', Marcus Berg 50')

Red cards: Ismail Ahmed (Al Ain) 77'

Updated: December 18, 2023, 11:53 AM