USA-based startup dedicated to solar energy technology, SolarSpace, is set to be a part of the NextGen FDI program. The startup that offers off-grid concentrated solar power (CSP) technology and electric vehicle charging stations, has set sights on setting up its regional headquarters in Abu Dhabi, UAE.
SolarSpace is also in the process of the development of a water purification and desalination system that is carbon neutral. This system promises to bring down the cost of potable water considerably. The offering will be introduced at the United Nations Climate Conference (COP28) in Dubai in November this year.
The initiative, NextGen FDI, began in 2022 and looks to augment UAE’s knowledge-driven economy by accelerating processes related to incorporation along with the facilitation of issuing visas, expediting banking services. The program also gives incentives to technology firms to establish operations in the UAE.
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