Positive Zero, a decentralised decarbonisation infrastructure business headquartered in the UAE, announced an agreement for a fund managed by BlackRock’s diversified infrastructure group to invest up to $400 million in the company.
This investment is to support the UAE company’s mission to grow sustainable energy adoption across GCC, in line with efforts to reduce carbon emissions and limit global temperature rise to 1.5 degrees Celsius.
The fund infusion will also help Positive Zero to deliver energy cost savings to its clients, the company said in a media statement.
Positive Zero, formed through merger of Siraj Power, Taka Solutions, and HYPR Energy, the fresh capital will amplify its capability to deploy fully financed and cutting-edge sustainable energy solutions tailored for a broad spectrum of clients including commercial, industrial and public sector organisations.
The company’s comprehensive approach integrates decentralised power generation, resource efficiency and clean mobility, positioning it to meet the increasing demand for decarbonisation and energy cost reduction.
The agreement was signed at the conclusion of COP28 in Dubai, the company said.
Positive Zero, BlackRock forge transformative partnership
Mohammed Abdulghaffar Hussain, Co-Founder and Chairman of Positive Zero, said the conclusion of COP28 in Dubai marks the beginning of a transformative partnership with BlackRock.
“We are set on a journey to achieve the ambitious COP28 targets of tripling renewables and doubling efficiency by 2030,” he said.
Ed Winter, Head of APAC and Middle East for Diversified Infrastructure at BlackRock, said the investment firm is excited about its investments in Positive Zero on behalf of its clients. “Decarbonisation and decentralisation are two key structural trends that we believe present significant investment opportunities, and 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,” Winter said.
Positive Zero said its foundational companies have already made remarkable strides in key GCC markets, with Siraj Power boasting the region’s largest portfolio of distributed solar energy, with over 140MWp in operation, Taka Solutions achieving energy savings of more than 100,000 MWh across more than eight sectors and HYPR Energy’s clean energy on-demand mobile battery unit providing construction sites and other off-grid locations with cheaper and cleaner power.
Positive Zero will consolidate these businesses under one brand, becoming an end-to-end provider of a broad range of sustainable technologies and data-driven solutions aimed at reducing carbon footprint, consumption, waste and costs across diverse industries.
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