Source Global’s hydropanels at the planned site of the IBV drinking water plant in Lehbab, Dubai. start producing water at 6 per cent humidity in the air stand Bloomberg
Source Global’s hydropanels at the planned site of the IBV drinking water plant in Lehbab, Dubai. start producing water at 6 per cent humidity in the air stand Bloomberg
Source Global’s hydropanels at the planned site of the IBV drinking water plant in Lehbab, Dubai. start producing water at 6 per cent humidity in the air stand Bloomberg
Source Global’s hydropanels at the planned site of the IBV drinking water plant in Lehbab, Dubai. start producing water at 6 per cent humidity in the air stand Bloomberg

Why tapping into renewable drinking water is the next logical step for the UAE


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In the recent Netflix original documentary, A Life on Our Planet, Sir David Attenborough gives audiences a panoramic view of his relationship with Mother Earth over the past seven decades. He presents alarming facts about our ecological footprint and laments, that "the natural world is fading [and this] will lead to our destruction".

But the 94-year old British naturalist also has a message of hope, reminding us that Earth has its own regulatory system which, if we use well, can help us tackle environmental erosion and find sustainable solutions for our everyday needs.

“The living world is essentially solar powered,” he asserts, urging us to shift away from fossil fuels and look towards the sun.

For its part, the UAE, while a major oil producer, has made significant strides towards solar power.

The country is firmly on track to achieve its target of increasing the renewable share of its energy mix to 50 per cent by 2050. The percentage of clean energy in Dubai's mix alone has grown from zero to nearly 10 per cent in less than a decade, and the UAE's sizeable investments have lowered solar energy costs by 75 per cent in the past five years.

When the 2 gigawatt Al Dhafra solar project comes online in 2022, it will be the world's largest, and will eliminate 2.4 million metric tonnes of CO2 emissions annually, equivalent to removing almost half a million cars from our roads. What's more, energy from Al Dhafra will be three times cheaper than the electricity tariff from a new natural gas-based plant.

With solar energy solutions well under way, the time is now right for the UAE to embark on a similar transition in a new sector: water.

Clean water is the only resource we cannot live without, and the UAE is one of the top 10 countries with "extremely high baseline water stress", according to the World Resources Institute. This stress will only become more acute as the climate continues to change.

Some non-urban and remote communities already struggle with access to safe drinking water and are reliant on supplies of bottled or trucked water – sources that offer near-term relief but fall far short in accessibility, resilience and sustainability.

There is no doubt we need innovative, climate-proof water solutions that can produce reliable drinking water close to the point of demand.

And just as we look to the sky to source our energy, the blue above us also holds the answer to our water needs.

There are an estimated 13 trillion litres of water hovering in the air in the form of atmospheric humidity, equivalent to 10 per cent of the world’s freshwater lakes. This humidity renews itself each day, making it a regenerative and sustainable source of water.

  • An employee walks among solar panels installed on the building of Indira Paryavaran Bhawan or the Indian Environment Ministry in New Delhi. Source's regional vice president Vahid Fotuhi sees parallels in the evolution of the hydropanel technology to that of solar photovoltaic panels. AFP
    An employee walks among solar panels installed on the building of Indira Paryavaran Bhawan or the Indian Environment Ministry in New Delhi. Source's regional vice president Vahid Fotuhi sees parallels in the evolution of the hydropanel technology to that of solar photovoltaic panels. AFP
  • Hydropanels, produced by Zero Mass Water, now known as Source, stand at the planned site of the IBV drinking water plant in Lehbab, Dubai. Bloomberg
    Hydropanels, produced by Zero Mass Water, now known as Source, stand at the planned site of the IBV drinking water plant in Lehbab, Dubai. Bloomberg
  • The Arizona-based water technology company, does not consider the lack of rivers or even seawater a problem because it has technology that can extract moisture from the atmosphere using energy from the sun. Bloomberg
    The Arizona-based water technology company, does not consider the lack of rivers or even seawater a problem because it has technology that can extract moisture from the atmosphere using energy from the sun. Bloomberg
  • Source is also expanding its reach within Neom - Saudi Arabia’s sustainable city, which straddles the Jordanian and Egyptian borders. The company already supplies clean drinking water to the staff working at the carbon neutral city and has plans to scale up its operations. Bloomberg
    Source is also expanding its reach within Neom - Saudi Arabia’s sustainable city, which straddles the Jordanian and Egyptian borders. The company already supplies clean drinking water to the staff working at the carbon neutral city and has plans to scale up its operations. Bloomberg
  • The Covid-19 pandemic has accelerated the green transition in economies. Wind turbines stand near the hydrogen electrolysis plant stands at Energiepark Mainz, operated by Linde, in Mainz, Germany. Bloomberg
    The Covid-19 pandemic has accelerated the green transition in economies. Wind turbines stand near the hydrogen electrolysis plant stands at Energiepark Mainz, operated by Linde, in Mainz, Germany. Bloomberg
  • A deep overhaul of fossil fuel-wired economies to function on cleaner energy sources could require as much as $130tn in spending, according to Irena. Rodrigue Kauahou and Jose Carlos Navarro, workers of the installation company Alromar, set up solar panels on the roof of a home in Colmenar Viejo, Spain. REUTERS
    A deep overhaul of fossil fuel-wired economies to function on cleaner energy sources could require as much as $130tn in spending, according to Irena. Rodrigue Kauahou and Jose Carlos Navarro, workers of the installation company Alromar, set up solar panels on the roof of a home in Colmenar Viejo, Spain. REUTERS

Today, we have technologies that use solar power to extract this water vapor from the air and convert it into clean, mineralised drinking water.

The adoption of this technology would give individuals, families and communities independent, renewable and regenerative sources of drinking water at a fraction of the cost of bottled water and without the plastic waste footprint. Solar water production also can be deployed to sustainably deliver pure water for irrigation in greenhouse farms while regulating humidity levels within those greenhouses to ensure optimal fruit and vegetable yields.

The UAE government has taken bold policy steps to shift towards renewable energy. Now, that same boldness is required to transition to renewable water sources, including air to water.

In the A Life on Our Planet documentary, Mr Attenborough concludes his witness statement by reminding us that for humanity to survive, we must learn to live in harmony with nature.

We have already started that journey by harnessing the powers of renewable energy. The next step is to tap into renewable water.

Vahid Fotuhi is the Mena vice president of business development at Source Global

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Pots for the Asian Qualifiers

Pot 1: Iran, Japan, South Korea, Australia, Qatar, United Arab Emirates, Saudi Arabia, China
Pot 2: Iraq, Uzbekistan, Syria, Oman, Lebanon, Kyrgyz Republic, Vietnam, Jordan
Pot 3: Palestine, India, Bahrain, Thailand, Tajikistan, North Korea, Chinese Taipei, Philippines
Pot 4: Turkmenistan, Myanmar, Hong Kong, Yemen, Afghanistan, Maldives, Kuwait, Malaysia
Pot 5: Indonesia, Singapore, Nepal, Cambodia, Bangladesh, Mongolia, Guam, Macau/Sri Lanka

The specs: 2018 Jeep Grand Cherokee Trackhawk


Price, base: Dh399,999
Engine: Supercharged 6.2-litre V8
Gearbox: Eight-speed automatic
Power: 707hp @ 6,000rpm
Torque: 875Nm @ 4,800rpm
Fuel economy, combined: 16.8L / 100km (estimate)

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Innotech Profile

Date started: 2013

Founder/CEO: Othman Al Mandhari

Based: Muscat, Oman

Sector: Additive manufacturing, 3D printing technologies

Size: 15 full-time employees

Stage: Seed stage and seeking Series A round of financing 

Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now. 

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COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million