Hodler Investments, a Dubai-based firm with a portfolio in energy, AI, and digital asset mining, has signed a strategic partnership with Abu Dhabi’s EHC Investment. Together, they will launch NEXGEN, a project aimed at monetizing wasted energy, like flared gas, to power datacenters in the UAE, KSA, and Egypt.
NEXGEN will help establish a compliant digital energy market to supply vital infrastructure by monetizing wasted energy, such as flared gas, in the UAE, KSA, and Egypt. Its goals include hosting global data center operators, reducing carbon emissions, and contributing to the Digital Energy Infrastructure (DEI) Fund, a local decarbonization innovation initiative.
UAE supports decarbonization
The UAE is a strong supporter of the decarbonization initiative. Over the past 15 years, the emirates has invested more than US$40 billion in clean energy projects. Globally, the UAE supports green infrastructure, investing approximately $16.8 billion in renewable energy projects across 70 countries, primarily in developing nations. It has also provided over $400 million in aid and soft loans for clean energy initiatives.
Moustafa Rashad, Chief Executive Officer of EHC Investment stated “Our partnership with HOLDER INVESTMENTS will solve various challenges facing the energy sector in MENA. We believe that modern technology coupled with smart capital can accelerate decarbonization and address the renewable funding gap.”
Mohamed El Masri, Managing Director of Hodler Investments added, “Our strategic alliance with EHC Investment will accelerate our mission to build distributed energy infrastructure to power compute clusters that optimize wasted energy resources and build equitable energy infrastructure that strengthens the regional position for integrating data mining systems that support a sovereign digital economy.”
The strategic partnership with EHC Investment comes after Hodler Investments announced its ongoing plans for a $500 million Digital Energy Infrastructure (DEI) Fund with the participation of UAE based GEWAN holding.
Wasted energy to sustainably power edge computing and bitcoin mining
According to comments made by Ahmed Ebrahim, Managing Director of Hodler Investments, the partnership will evolve the regional modern data center applications powering remote data mining farms, such as edge computing, bitcoin mining, AI and other critical compute applications.
In addition Ali Al Gebely, Managing Director of EHC Holding, believes that with the growth the MENA region is witnessing when it comes to the digital economy, the partnership aligns with their goals for a clean energy transition for a sustainable future.
Alaa Al Ali, Founder & Group CEO, Gewan Holding comments, “We are proud of our direct affiliation with Hodler Investments which resulted in the ongoing establishment of the Digital Energy Infrastructure Fund to support such innovative initiatives as we look to streamline sustainable capital to accelerate decarbonization projects in the region, enabling carbon offset opportunities and optimized cash flow from energy assets.”
Source: https://www.cryptopolitan.com/uae-investment-to-monetize-wasted-energy/