Masdar City, one of the five integrated units of Masdar, today showcased its business offerings to companies operating in the renewable energy and clean technology industries in addition to ancillary service providers at the three-day European Future Energy Forum (EFEF) 2011.
Ahmed Baghoum, Director of City Zone, Masdar City, listed the key advantages of locating a business within Masdar City during his presentation at the third edition of EFEF which opened on 10 October at Palexpo in Geneva. Participating in a panel discussion titled “Visionaries that have and are shaping the future energy landscape”, Baghoum reiterated Masdar City’s objective to create a global hub for renewable energy and clean technologies where businesses can thrive and innovation flourish. In his presentation, Baghoum outlined Masdar City’s objectives to be a sustainable, commercial, innovative and practical development following the principles of high density/low rise living and mixed use developments. He also outlined the Masdar City’s sustainability measures, pilot projects and technology roadmap.
Baghoum said: “We have been impressed by the quality of visitors to the European Future Energy Forum 2011, where we have received a large volume of enquiries and significant interest from numerous companies interested in setting up at Masdar City.”
“Abu Dhabi serves companies as an ideal gateway to the economies of the Middle East, North Africa and much of Asia because of its unique location and logistical advantages. Businesses located in Masdar City can benefit from these factors to leverage growth opportunities. In addition to Masdar-related projects, industry leaders are also keen on partnering with Abu Dhabi on various other projects that facilitate economic development.”
He further added “Companies based in Masdar City can benefit from the unique value propositions of a special economic zone. These include the chance to collaborate with prominent like-minded experts and keep abreast of the latest research and development being carried out at Masdar Institute. Registered companies also have the opportunity to participate in pilot projects being carried out in Masdar City and to work in close proximity with leading international cleantech companies such as Siemens and Schneider Electric among others. Companies within the City also have the chance to be part of the emerging cleantech market in the MENA region which is expected to experience strong growth over the coming years.”
During the event, Masdar City officials interacted with small and medium-sized businesses and multinational organisations within the sustainable and renewable energy industry, as well as representatives of companies that have expressed interest in being part of the clean technology cluster.
Global multinationals that have already made commitments to base operations at Masdar City include Siemens, Schneider Electric, Bayer Material Science and BASF. In addition, Sweden’s SymbioCity, a network of Swedish companies specialized in sustainable urban and municipal planning, has already opened an office in Masdar City.
Major entities including Japan’s Cosmo Oil Company, Tokyo Institute of Technology, Yazaki, 3M and Targetti are partnering with Masdar City for pilot projects such as single effect absorption chillers, day lighting systems and Beam Down, a Concentrated Solar Power (CSP) project. As a knowledge exchange, it is also home to International Renewable Energy Agency (IRENA) and the Masdar Institute of Science and Technology that has an on-going collaboration with the Massachusetts Institute of Technology (MIT).
Masdar City’s One-Stop-Shop aspires to be a “best in class” service that handles everything from registration and licensing to government relations and fast-track visa processing, serves as a major feature that benefits companies. Masdar City is continuously evolving as an attractive destination for the knowledge-intensive industries, companies and organisations operating in renewable energy as well as sustainable and clean technologies globally.