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Ecobility launched to catalyze sustainable development in the UAE
Ecobility Energy Solutions LLC was officially launched today aiming to lead private-sector sustainable development and carbon footprint reduction in the UAE –which, per capita, is believed to be amongst the highest in the world.
- Gulf News web report
- Published: 16:37 May 6, 2008
Dubai: Ecobility Energy Solutions LLC was officially launched today aiming to lead private-sector sustainable development and carbon footprint reduction in the UAE – which, per capita, is believed to be amongst the highest in the world.
The company will be fully dedicated to catalyzing change in the field of sustainability by engaging in the origination, development and commercialization of technologies across three verticals - renewable energy, resource conservation and sustainable buildings.
Ecobility will be spearheaded by its founders Wadah Abusin and Karim Aly, two seasoned investment professionals turned eco-entrepreneurs.
“Ecobility was born out of our belief that there exists a critical need to reduce resource consumption through optimization, as well as diversify our energy mix by tapping ignored energy sources. Our strategy aims to tackle the existing challenges of sustainable growth,'' Abusin said during the launch.
Karim Aly added: “Clean Technology has become the 3rd largest investment class for venture capitalists with USD 7 billion invested in the sector to date; this figure is projected to further increase, exceeding USD 20 billion by 2010. This is testimonial in itself to the resonating importance attributed to this sector and a strong indicator to its anticipated longevity.''
Ecobility has developed a pipeline of pioneering projects and products; the first of which will be a resource conservation initiative expected to be announced in the coming months in collaboration with a federal government body.
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