The Ministry of Economy has announced that SolarSpace, a US-based startup specializing in advanced solar energy technology, is joining the NextGen FDI program and intends to establish its regional headquarters in Abu Dhabi, UAE.
Founded in Tucson, Arizona, in 2020 by David Vili, SolarSpace is known for its off-grid concentrated solar power (CSP) technology, which can produce three times the energy of traditional photovoltaic panel systems while using only a fifth of the land area.
SolarSpace offers a range of solutions, including off-grid electric vehicle charging stations, currently undergoing testing in arid and remote conditions. They are also developing a carbon-neutral water purification and desalination system, which was showcased to His Excellency Dr Thani bin Ahmed Al Zeyoudi during the World Investment Forum in Abu Dhabi.
This system has the potential to reduce the cost of potable water significantly and will be presented at the United Nations Climate Conference (COP28) in Dubai in November 2023.
Dr Thani bin Ahmed Al Zeyoudi praised SolarSpace’s inclusion in the NextGen FDI program, highlighting the company’s contributions to the UAE’s advanced technology ecosystem and its leadership in clean energy initiatives. He emphasized the UAE’s commitment to energy transition and collaboration 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 plans to establish its MENA headquarters in the UAE, furthering its commitment to bringing innovative solar technology to the region.
NextGen FDI, initiated in 2022, is designed to bolster the UAE’s knowledge-driven economy by expediting incorporation processes, facilitating visa issuance, expediting banking services, and offering incentives for technology companies to set up operations in the UAE.