UAE and US to deepen partnership in clean energy, foreign policy and space exploration


  • English
  • Arabic

The UAE and the US this week emphasised areas of current and future collaboration, releasing a joint statement with a focus on business, climate, foreign policy and space exploration.

This came during the first visit by a UAE President to the White House, with President Sheikh Mohamed holding talks with US President Joe Biden and Vice President Kamala Harris on Monday.

Here, The National breaks down key aspects of co-operation and their significance.

Clean energy

The UAE and the US reaffirmed their strong commitment to collaborate on “sustainability and climate resilience” through initiatives including the Partnership to Accelerate Clean Energy. Both nations said they were “committed to investing together in Africa and working to end energy poverty across sub-Saharan Africa”.

Launched in 2022, Pace aims to generate $100 billion in investment and 100 gigawatts of clean energy globally by 2035. UAE-based companies Averi Finance, Amea Power and Phanes are investing in Africa as part of the US led-Power Africa Initiative.

Adnoc announced a 35 per cent stake in ExxonMobil’s proposed low-carbon hydrogen and ammonia plant in Texas. AP
Adnoc announced a 35 per cent stake in ExxonMobil’s proposed low-carbon hydrogen and ammonia plant in Texas. AP

Averi Finance intends to enable $5 billion in investments, build 3 gigawatts of power generation projects, construct more than 3,000km of transmission lines and establish more than 500,000 home and business connections, while Amea Power hopes to create 5 gigawatts of renewable energy capacity in Africa by 2030, along with $5 billion in capital.

Adnoc announced the acquisition of a 35 per cent stake in ExxonMobil’s proposed low-carbon hydrogen and ammonia plant in Baytown, Texas, as part of the Pace initiative. This plant is intended to produce up to 900,000 tonnes a year of low-carbon ammonia, enabling the transition to cleaner fuels in hard-to-abate sectors.

Plynth Energy – a recently established Abu Dhabi government-owned early-stage fund focused on fusion technologies and supply chains – also invested in the US-based company Zap Energy, which plans to build scalable and commercially viable fusion energy. This investment will help fund the further development of Zap Energy’s small-format commercial fusion technology.

Economic goals

Sheikh Mohamed and Mr Biden also discussed progress on the landmark India-Middle East-Europe Economic Corridor, launched at last year’s G20 Summit in New Delhi.

The corridor – which connects India to Europe by ship-to-rail connections through the UAE, Saudi Arabia, Jordan, Israel and Greece – will generate economic growth and incentivise new investments, as well as generating jobs, reducing costs and lowering greenhouse gas emissions.

“The leaders charted an ambitious course for the United Arab Emirates and the United States to lead global efforts to develop and expand new fields central to the global economy, particularly in advanced technologies and the clean energy required to power artificial intelligence,” the two leaders said.

In the AI field, the UAE’s Group 42 received investments worth $1.5 billion from Microsoft to help expand its operations. Last week, G42 also unveiled a partnership with global chip maker Nvidia to develop AI solutions aimed at enhancing the accuracy of weather forecasting globally through Earth-2.

G42 is to work with global chip maker Nvidia to develop AI solutions. Reuters
G42 is to work with global chip maker Nvidia to develop AI solutions. Reuters

Foreign conflict and Gaza war

Among the discussions surrounding foreign conflict, Sheikh Mohamed and Mr Biden stressed the importance of finding a peaceful solution over Greater Tunb, Lesser Tunb and the Abu Musa islands, which have been occupied by Iran since 1971, “through bilateral negotiations or the International Court of Justice”.

The also spoke about reaching “sustainable solutions” to security threats in the region “including those posed by non-state actors”, in an apparent reference to Iran-linked groups including Lebanon’s Hezbollah and the Houthi rebels in Yemen.

On Gaza, the two leaders spoke about reaching an end to the conflict, a “sustainable ceasefire” and the release of hostages and Palestinian detainees, while adding that all parties should adhere to their obligations under international humanitarian law. More than 41,400 people have been killed and at least 95,875 injured in Gaza since the start of the war, health authorities in the enclave said. Thousands more missing or under rubble.

As Israel continues to hinder the delivery of aid to Gaza, with only a fraction of the growing needs for food, water and medicine being met, Mr Biden lauded the UAE’s humanitarian response and its launch of a maritime corridor for the movement of aid, opening a field hospital and evacuating the sick and wounded from Gaza to receive treatment in the UAE.

The destroyed landmark Hassaina Mosque in Gaza city. Sheikh Mohamed and Joe Biden stressed the importance of securing a two-state solution. AFP
The destroyed landmark Hassaina Mosque in Gaza city. Sheikh Mohamed and Joe Biden stressed the importance of securing a two-state solution. AFP

The two leaders also expressed the importance of continuing to deliver aid in an unhindered manner to address the growing needs of the civilian population, while maintaining the safety of humanitarian workers and “creating the conditions needed to facilitate an effective response”. At least 280 aid workers have been killed in Gaza, in what has been the deadliest war for UN employees since the world body was launched in 1945.

Sheikh Mohamed praised US diplomatic efforts with Egypt and Qatar to negotiate a ceasefire and secure an agreement to end the war. The two leaders also discussed a future path for Gaza that addresses the humanitarian crisis, “establishes law and order, and lays the groundwork for responsible governance”.

Sheikh Mohamed and Mr Biden also stressed the importance of securing a two-state solution, where Palestinians and Israelis live in peace and security, “as the only way to resolve the Israeli-Palestinian conflict”, as well as the need to refrain from “all unilateral measures” that undermine these efforts.

Israel is accused of carrying out a widespread attack in Lebanon where pagers and walkie-talkies exploded, killing dozens of people, including civilians, and injuring thousands. Israel has not claimed responsibility for the attack, but has since launched air strikes that have killed more than 550 in Lebanon, while Hezbollah has fired rockets into Israel that have reached as far as Haifa.

On Sudan, the Sheikh Mohamed and Mr Biden expressed concern over the situation facing civilians and neighbouring countries.

“Both leaders expressed alarm at the millions of individuals who have been displaced by the war, the hundreds of thousands experiencing famine, and the atrocities committed by the belligerents against the civilian population,” state news agency Wam reported.

They agreed that there can be no military solution to the civil war in Sudan and voiced support for an immediate end to the hostilities, a return to the political process and a transition to a civilian-led government.

They also stressed the importance of ensuring that humanitarian assistance reaches those in need, and preventing the emergence of terrorist networks in Sudan. The fighting in the Darfur region is of particular concern, they said, and it is imperative to hold those who have committed war crimes accountable.

Space exploration

The UAE and US are set to deepen their collaboration in space exploration. Both countries have been long-standing partners in the space sector, with four Emirati astronauts having undergone training at Nasa.

Universities in the US also worked with Emirati engineers to develop the Hope probe, which has been sending back data from Mars’s orbit since 2021.

During their meeting, Sheikh Mohamed and Mr Biden discussed the agreement between Nasa and the Mohammed bin Rashid Space Centre in January, under which the UAE would provide a crucial part of Nasa’s planned Gateway, a station to orbit the Moon.

MBRSC engineers will develop an airlock in exchange for a place for an Emirati astronaut on a future flight to the station. The deal was signed a few months after Dr Sultan Al Neyadi, now Minister of State of Youth Affairs, carried out a long-term mission on the International Space Station, travelling on a SpaceX rocket launched from a Florida spaceport. The mission achieved several milestones, including the first spacewalk carried out by an Arab astronaut.

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Floward%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ERiyadh%2C%20Saudi%20Arabia%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EAbdulaziz%20Al%20Loughani%20and%20Mohamed%20Al%20Arifi%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EE-commerce%0D%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%20%3C%2Fstrong%3EAbout%20%24200%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EAljazira%20Capital%2C%20Rainwater%20Partners%2C%20STV%20and%20Impact46%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E1%2C200%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
Honeymoonish
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Elie%20El%20Samaan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENour%20Al%20Ghandour%2C%20Mahmoud%20Boushahri%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
How to become a Boglehead

Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.

•   Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.

•   Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.

•   Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.

•   Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.

•   Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.

•   Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.

•   Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.

•   Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.

Yahya Al Ghassani's bio

Date of birth: April 18, 1998

Playing position: Winger

Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda

The biog

Favourite book: Men are from Mars Women are from Venus

Favourite travel destination: Ooty, a hill station in South India

Hobbies: Cooking. Biryani, pepper crab are her signature dishes

Favourite place in UAE: Marjan Island

Straightforward ways to reduce sugar in your family's diet
  • Ban fruit juice and sodas
  • Eat a hearty breakfast that contains fats and wholegrains, such as peanut butter on multigrain toast or full-fat plain yoghurt with whole fruit and nuts, to avoid the need for a 10am snack
  • Give young children plain yoghurt with whole fruits mashed into it
  • Reduce the number of cakes, biscuits and sweets. Reserve them for a treat
  • Don’t eat dessert every day 
  • Make your own smoothies. Always use the whole fruit to maintain the benefit of its fibre content and don’t add any sweeteners
  • Always go for natural whole foods over processed, packaged foods. Ask yourself would your grandmother have eaten it?
  • Read food labels if you really do feel the need to buy processed food
  • Eat everything in moderation
Where%20the%20Crawdads%20Sing
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EOlivia%20Newman%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Daisy%20Edgar-Jones%2C%20Taylor%20John%20Smith%2C%20Harris%20Dickinson%2C%20David%20Strathairn%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
Company profile

Name: Back to Games and Boardgame Space

Started: Back to Games (2015); Boardgame Space (Mark Azzam became co-founder in 2017)

Founder: Back to Games (Mr Azzam); Boardgame Space (Mr Azzam and Feras Al Bastaki)

Based: Dubai and Abu Dhabi 

Industry: Back to Games (retail); Boardgame Space (wholesale and distribution) 

Funding: Back to Games: self-funded by Mr Azzam with Dh1.3 million; Mr Azzam invested Dh250,000 in Boardgame Space  

Growth: Back to Games: from 300 products in 2015 to 7,000 in 2019; Boardgame Space: from 34 games in 2017 to 3,500 in 2019

The biog

Most memorable achievement: Leading my first city-wide charity campaign in Toronto holds a special place in my heart. It was for Amnesty International’s Stop Violence Against Women program and showed me the power of how communities can come together in the smallest ways to have such wide impact.

Favourite film: Childhood favourite would be Disney’s Jungle Book and classic favourite Gone With The Wind.

Favourite book: To Kill A Mockingbird for a timeless story on justice and courage and Harry Potters for my love of all things magical.

Favourite quote: “We make a living by what we get, but we make a life by what we give.” — Winston Churchill

Favourite food: Dim sum

Favourite place to travel to: Anywhere with natural beauty, wildlife and awe-inspiring sunsets.

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Company%C2%A0profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ELeap%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMarch%202021%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ziad%20Toqan%20and%20Jamil%20Khammu%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%3C%2Fstrong%3E%20Undisclosed%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3ESeven%3C%2Fp%3E%0A
Updated: September 24, 2024, 1:23 PM