Abu Dhabi-based DNEG Group has secured a $200 million strategic investment from United Al Saqer Group (UASG), bringing the Group's total enterprise valuation to over $2 billion. The investment will support DNEG Group's strategy of innovation and diversification, enabling it to expand beyond visual effects services and become a content production and AI-powered technology partner across various sectors. The funding will be used to activate the technology division, develop intellectual property and content creation capabilities, establish a new office and visual experience hub in Abu Dhabi, and expand services and market reach. Namit Malhotra will continue as Chairman and CEO of DNEG Group, with Nabil Kobeissi and Edouard Zard from UASG, and Prabhu Narasimhan from NaMa Capital joining the Group's Board of Directors. This investment reinforces Abu Dhabi's position as a global hub for creativity, innovation, technology, and investment [6959885a].
In other news, Mubadala Investment Company, the investment arm of Abu Dhabi's sovereign wealth fund, is planning to invest $13.5 billion in biofuels in Brazil over the next five years. The investment will focus on the production of renewable diesel and sustainable aviation fuel, aiming to position Mubadala Capital as one of the largest biofuels producers in the world. This move aligns with Mubadala's strategy to invest in sustainable industries and support the global transition to a low-carbon economy. The investment will not only contribute to Brazil's efforts to reduce carbon emissions but also create job opportunities and support the development of the local economy [765e9e6b].
Mubadala's partnership with Hyundai Motor Company to invest in clean technologies and future mobility is part of its broader commitment to sustainable investments. The collaboration will focus on various sectors, including green steel production, green aluminum production, recycling, advanced air mobility, and electric vehicle infrastructure. This partnership allows Mubadala to diversify its portfolio and align with its strategic growth ambitions and sustainability agendas. Additionally, Mubadala recently announced a £270 million investment in Zenobē, a battery energy storage and electric vehicle fleet solutions provider, to support its expansion in the UK and globally. With these initiatives, Mubadala continues to strengthen its presence in the clean tech and future mobility sectors [2056e07f].
NWTN, a green energy company, is also playing a significant role in helping the UAE achieve its clean energy goals. The UAE has already invested over $40 billion in clean energy and plans to invest an additional $163 billion over the next three decades. NWTN is focused on developing renewable energy solutions, energy storage solutions, and mobility solutions. They aim to establish Rabdan as the UAE's first homegrown new energy vehicle brand. NWTN recently obtained the World Manufacturer Identifier (WMI) certification and the 'Made in the Emirates' recognition. They are building an electric vehicle aggregation platform and aiming for a 40% localization rate. NWTN is pioneering the concept of Passenger-Centricity and creating Smart Passenger Vehicles (SPVs). They have partnerships with Abu Dhabi Ports Group, Abu Dhabi Department of Economic Development (ADDED), and Abu Dhabi Investment Office (ADIO). NWTN believes there is a market gap for range-extended cars to convert consumers into EV buyers. However, they face challenges in navigating a complex regulatory environment and keeping up with the pace of technology. Nonetheless, NWTN is exploring opportunities in the entire clean energy value chain globally [30eee306].
ADNOC, the Abu Dhabi National Oil Company, has announced an increase in its local manufacturing target to AED 90 billion by 2025. The company aims to support the growth of the UAE's industrial sector and create new job opportunities. ADNOC plans to achieve this target by expanding its partnerships with local and international companies, investing in advanced technologies, and promoting innovation. The move is part of ADNOC's efforts to enhance the UAE's self-sufficiency and reduce reliance on imports. The announcement was made by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Group CEO, during the ADNOC Downstream Investment Forum. The forum highlighted the importance of the downstream sector in driving economic diversification and sustainable growth in the UAE. ADNOC's increased focus on local manufacturing aligns with the UAE's vision to develop a robust and competitive industrial base [cd0ee2ec].
ADNOC, the Abu Dhabi National Oil Company, has launched a pilot project introducing a robotic fueling arm at gas stations in the United Arab Emirates. The AI-powered robotic arm uses sensors and cameras to extend towards the vehicle, open the fuel tank cap, and align the nozzle to fill the car up. The technology aims to support existing staff, boost productivity, and reduce wait times at gas stations. The pilot project was demonstrated at ADNOC's Al Reem Island petrol station and is part of ADNOC's efforts to enhance efficiency and customer experience. The robotic arm is designed to be fast and environmentally friendly, managing spills effectively. This innovation aligns with the UAE's commitment to adopting advanced technologies and promoting sustainability in the energy sector [2e641c04].
In the entertainment technology sector, the DNEG Group has raised $200 million in a strategic investment from United Al Saqer Group (UASG), bringing the total enterprise valuation of the Group to over $2 billion. The investment will accelerate the Group's strategy of innovation and diversification, allowing it to evolve from a visual effects services provider to a sector-agnostic content production and AI-powered technology partner. The DNEG Group will fully activate its technology division, develop its intellectual property and content creation arm, open a new office and visual experience hub in Abu Dhabi, and expand its offering in terms of services and markets. Namit Malhotra will continue as Chairman and CEO of the DNEG Group, and Nabil Kobeissi and Edouard Zard from UASG, as well as Prabhu Narasimhan from NaMa Capital, will join the Group's Board of Directors. The investment reaffirms Abu Dhabi's status as a global powerhouse for creativity, innovation, technology, and investment [6959885a].