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MASDAR AND GE ANNOUNCE WORLD'S FIRST ECOMAGINATION CENTRE AT MASDAR CITY
MASDAR AND GE ANNOUNCE
WORLD’S FIRST ECOMAGINATION CENTRE AT
MASDAR CITY Strategic partnership
aims to advance Research and-Development of sustainable technologies
and solutions
January 20, 2009 — Masdar announced
today that GE will be an anchor partner in Masdar City. In a joint Masdar-GE
agreement, the two companies outlined plans to house a new Ecomagination
Centre, focused on sustainable business solutions and to form a broader
R&D relationship that will support the development and deployment
of new and innovative technologies. This centre is part of a multi-faceted
strategic partnership signed by Mubadala and GE in July 2008.
Masdar City, currently under construction,
will be the world’s first carbon-neutral, zero-waste city completely
powered by renewable energy. Masdar is driven by the Abu Dhabi Future
Energy Company (ADFEC), a wholly owned company of Mubadala Development
Company. The City is a reflection of a long term strategic commitment
by the government of Abu Dhabi to accelerate the development and deployment
of future energy solutions.
Ecomagination is GE’s commitment to
conceive and construct pioneering technologies that help customers address
their environmental and financial needs. The Ecomagination Centre at
Masdar City will support the development of energy efficient products
in the region and will raise awareness of energy conservation among
the Masdar City community. The Centre will also showcase GE technologies,
including wind, solar and other renewable energy products that will
power the next generation "smart" electrical grid, water purification
technology, and energy-efficient appliances for the home
"This is truly a landmark partnership
in the development of Masdar City because it will allow us to jointly
develop, deploy, scale and market innovative solutions in renewable
energy and sustainability," said Masdar CEO Dr. Sultan Al Jaber. "We
are excited that GE will be an anchor tenant at Masdar City, as we aim
to build the world’s Silicon Valley for clean technology."
"The vision of the leadership of Abu
Dhabi and of HH General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince
of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has
allowed us to make great advancements in the Masdar Initiative and to
attract the world’s greatest partners to join us in achieving our
goals," he added.
The multi-faceted agreement also provides
a framework for Masdar and GE to explore areas of R&D collaboration
in the development of Clean Tech products. Masdar will be able to leverage
GE’s technological expertise with the aim of ultimately including
these technologies in the Masdar City development.
"Masdar City, and Abu Dhabi, is the
perfect location for GE to establish its first Ecomagination Centre,"
said Steve Fludder, Vice President, Ecomagination. "We see enormous
opportunities to deploy sustainable technologies in the region, drive
new innovation, and harness the region’s great interest and willingness
in putting these technologies to work."
The Ecomagination Centre is expected
to be up to 4,000 square meters in size and will be located near the
Masdar Institute, Masdar’s graduate-level institution dedicated to
academic research and study in the development and deployment of the
future of energy.
The Ecomagination Centre is a product
of the GE and Mubadala framework agreement, signed in July 2008, on
a global partnership encompassing a broad range of initiatives including
commercial finance, clean energy research and development, aviation,
industry and corporate learning. Building on an already strong
relationship and a common view of high growth opportunities in the Middle
East and globally, the agreement provides for shared capital commitments
to new joint ventures and investment funds. For more information on
GE and Mubadala, visit www.ge.com/news/partnership.
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About Masdar
Masdar is Abu Dhabi’s
multi-faceted initiative advancing the development, commercialisation
and deployment of renewable and alternative energy technologies and
solutions. Masdar is driven by the Abu Dhabi Future Energy Company (ADFEC),
a wholly owned company of the government of Abu Dhabi through the Mubadala
Development Company. For more information about the Masdar Initiative,
please visit www.masdaruae.com.
About GE
GE is Imagination at Work — a diversified
technology, media and financial services company focused on solving
some of the world's toughest problems. With products and services ranging
from aircraft engines, power generation, water processing and security
technology to medical imaging, business and consumer financing and media
content, GE serves customers in more than 100 countries and employs
more than 300,000 people worldwide. For more information, visit the
company's Web site at http://www.ge.com.
ecomagination
ecomagination is GE’s bold commitment
to imagine and build innovative solutions that solve today’s environmental
challenges and benefit customers and society at large.. ecomagination
puts into practice GE’s belief that financial and environmental performance
can be integrated to accelerate profitable growth for the company, while
taking on some of the world’s biggest challenges. To date, over 80
products from GE’s portfolio have been certified as energy efficient
products.
Contact Info:
Press Contacts:
MASDAR
Serene Serhan
PR Manager
Tel +971 (0)50 854 3269
Email: sserhan@masdar.ae
Mike Iacovella
Tel +917 532 7977
GE
Rania Rostom
Communications Manager
GE Middle East & Africa
Tel +971 (0)4 429 6311
Email: rania.rostom@ge.com
Website : Masdar
