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Mon 18 Jan 2010 08:21 PM

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UAE and Deutsche bank setup $265m clean tech fund

Clean Tech fund part of Abu Dhabi government initiative for an oil free energy future.

Abu Dhabi government owned Masdar and Deutsche Bank have launched a $265 million clean technology and renewable energy fund, Deutsche Bank said in a statement on Monday.

The fund would invest in companies in power generation and storage, water, waste management and in companies developing technologies for energy efficiency, Deutsche Bank said.

Masdar is a government initiative aimed at preparing Abu Dhabi for an energy future beyond oil and natural gas.

Abu Dhabi, the capital of the UAE, holds most of the UAE's crude reserves and oil wealth. The UAE is the world's third largest exporter.

One of Masdar's early initiatives was to create another such fund, the $250 million Masdar Clean Tech Fund, which it set up in partnership with Credit Suisse, Consensus Business Group and Siemens in 2006. (Reuters)

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Casey Verdant 10 years ago

Masdar is pursuing some really interesting projects these days: carbon-neutral cities, the $100M new green investment fund with Deutsche Bank, and second-generation biofuel studies. Masdar is poised to lead the UAE’s green revolution. If you are interested in green investment or carbon research, check out http://www.greencollareconomy.com. It has hundreds of case studies on emerging green tech and green investment. It's also the largest b2b green directory on the web.