• Agreement to offer Hub71 startups the opportunity to work closely with global energy experts to advance CleanTech and ClimateTech in supporting the clean energy transition

Abu Dhabi, United Arab Emirates: Hub71, Abu Dhabi’s global tech ecosystem, has signed a partnership with Siemens Energy AG (“Siemens Energy”), one of the world’s leading energy technology companies, to advance CleanTech and ClimateTech in Abu Dhabi. Working together in collaboration, Hub71 and Siemens Energy will support tech startups in developing innovative technologies that directly address global climate change.

The agreement comes at a time when the UAE is set to host COP28 in 2023 and is reinforcing its commitment towards achieving net-zero by 2050. The partnership will support the nation’s ability to drive investments in green infrastructure and clean energy projects both locally and globally.

As part of the agreement, Hub71 and Siemens Energy aim to identify prominent CleanTech and ClimateTech startups to explore investment opportunities that have the potential to accelerate the clean energy transition. Siemens Energy will also provide select startups with strategic mentorship by participating in knowledge sharing platforms, building from its expertise in developing sustainable, reliable, and affordable clean energy technologies.

Siemens Energy will explore opportunities to participate in Hub71’s value-driven programs focused on increasing market access and the potential for fundraising. These programs include Ventures Lab, a venture builder by Hub71 and Modus Capital, which helps exceptional entrepreneurs to build ideas into market-leading businesses. Additionally, Siemens Energy will explore participating in Hub71’s The Outliers program designed for tech startups worldwide to solve real industry challenges of corporate and government bodies. In pursuit of increasing the number of clean and renewable energy startups, Hub71 will fast-track companies referred by Siemens Energy to its Incentive Program that provides founders with up to AED 500k worth of incentives and benefits including setup and operational support.

Badr Al-Olama, Acting Chief Executive Officer of Hub71, said: “Our partnership with Siemens Energy reinforces the importance of energy transition as the world pivots towards more sustainable and renewable energy sources. The powerful combination of technology and entrepreneurship raises our ability to address global challenges and, by capitalizing on the expertise of Siemens Energy, we will focus our efforts to attract leading CleanTech and ClimateTech startups to establish a presence in Hub71 so that we can pool our combined efforts towards reducing emissions and promoting a low carbon economy.”

Kendra Rauschenberger, General Partner Siemens Energy Ventures, said: “Accelerating the energy transition requires investment, innovation, and partnership. It is through collaboration with sustainability-focused and forward-looking organizations like Hub71 that we will transition faster. We are excited to work with Hub71 to identify and support start-ups, and to leverage our extensive resources in the fields of innovation, finance, and strategic development, to accelerate and the development of tomorrow’s technologies, today.”

Today, Hub71 is home to over 170 startups operating in sectors including CleanTech, HealthTech, EdTech and FinTech which are all essential to future-proofing Abu Dhabi’s economy and ensuring its long-term prosperity. Established on the foundations of partnership and collaboration, Hub71 is working closely with local and global corporate and government organizations to accelerate the growth of tech startups globally from Abu Dhabi.

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About Hub71:

Hub71 is Abu Dhabi’s global tech ecosystem that enables founders to build globally enduring homegrown tech companies in any sector by providing access to global markets, a capital ecosystem, a global network of partners, and a vibrant community filled with highly skilled talent, governed by forward-thinking regulation.

Backed by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 is growing its vibrant community of tech startups, investors, government, and corporate partners to ensure the availability of investment, commercial activities, and incentives from the public and private sectors. Through Hub71’s entrepreneurial infrastructure, value-add programs, enabling services and support packages, founders can build, and scale widely adopted technologies with purpose and impact. Hub71 is on a mission to introduce new minds and technologies to Abu Dhabi, finding new ways to build globally enduring technology companies and sustain the nation’s continuous economic development.

For more information visit www.hub71.com and follow us on @Hub71AD #Hub71.

Media contact:
Arvin Rivera
TechHubEdelman@Edelman.com

About Siemens Energy:

Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology,

such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs around 91,000 people worldwide in more than 90 countries and generated revenue of €28.5 billion in fiscal year 2021. www.siemens-energy.com.

Media Contact:
Iain Packham
iain.packham@siemens-energy.com