News

HFI is delighted to see the progress being made to support the energy transition by NZTC through the development and deployment of technologies for an affordable net zero energy industry. Since 2017 the NZTC has leveraged $0.3bn from industry to deliver 200+ technology projects, unlocking ca. $20bn Gross Value Added (GVA) potential to the Scottish Economy and enabling 42+Mt CO2e abatement potential.

On the international front, NZTC had a prominent role during COP28 in the UAE. NZTC collaborated with ADNOC and other key partners like AWS, bp and Hub71 in a global Decarbonization Technology Challenge during the UAE Climate Tech Forum. This competition sought innovative solutions for the energy transition, offering finalists a chance to pitch their ideas with winners receiving up to US$1 million for technology piloting with ADNOC, as part of a broader effort to transform and decarbonize the global energy sector. 

COP28 underscored the crucial need for a fair transition in the Global South, where the impact of climate change is most severe. Many nations in this region link their climate commitments to international support. Despite previous funding efforts, progress has been slow. NZTC proposes a novel approach - NZTC’s Technology Without Borders initiative, with a complementary model for a coordinated and targeted global partnership program to bridge the net zero energy technology gap between the Global North and South. 

The delivery model, a Global Technology Hub, will bridge the energy technology gap. Leveraging successful models, it aims to facilitate efficient technology transfer, adaptation, and innovation in the Global South. Backed by international Research and Technology Organisations, the initiative aims to rapidly deploy net zero technologies, fostering sustainable energy systems through local supply chains.

Six international Research and Technology Organizations (RTO’s) have joined NZTC in committing to collaborate on the Technology Without Borders Initiative: AIST in Japan, CSIR in South Africa, CSIRO in Australia, IDRIC in the UK, RCGI in Brazil and TNO in the Netherlands.

This underscores NZTC’s international ambitions to expand its innovative technology services, including “Technology Roadmapping”, “Innovation Competitions”, “Technology Due Diligence” and “Carbon Impact Assessment”, “Innovation Culture Indexing”, “Technology Profiling”, “Thought Leadership” and “Horizon Scanning”, “Supporting development and delivery of technology and innovation centres”.

The EIC (Energy Industries Council) DataStream service is currently tracking approximately 136 major energy sector projects in the UAE across upstream oil & gas, refineries, petrochemicals, nuclear and renewables, representing US$221 billion of opportunities in the period to 2030. This is 32% of the current total GCC US$690 billion energy contracts market size. 

The UAE energy transition market is quantified at US$12 billion with the leading players being DEWA, Besix Group, Brooge Renewable Energy, Al Reyadah and Helios Industry. Let’s hope NZTC can play a huge role in expanding this number.

HFI’s Abu Dhabi Ventures Initiative (ADVI) supports advanced petroleum technology and energy transition technology ventures in the UAE, supporting clients to address key challenges including 100% foreign ownership laws, local partner agreements, technology licences, manufacturing facilities contracts, corporate taxation, ICV procurement policies and Emiratisation regulations.