A new era of on-demand clean energy is to launch in the UAE, through the joint venture HYPR.
The new venture is formed by on-demand refuelling and vehicle services company, CAFU, the largest regional distributed solar energy company, SirajPower, and climate impact investor, Creek.
Through the venture, HYPR will launch its on demand energy systems using innovative battery storage across the UAE, a statement said.
It added that this innovation will mark the first-of-its-kind solution in the region using transportable lithium ion batteries providing customers with a reliable and cost-effective alternative to diesel generators.
HYPR will bring together a range of key strengths from each organisation involved in the partnership.
The battery storage systems used by HYPR will be developed by SirajPower, a Creek portfolio company with over 200 solar sites across the UAE.
The new company will also benefit from CAFU’s on demand customer-centric approach combined with its routing capabilities and operational expertise in optimising B2B deliveries.
HYPR will use its own balance sheet to invest in the battery modules so customers can be offered a pay-as-you-go model with no up-front capital requirements.
Rashid Al-Ghurair, founder and CEO, CAFU said: “As a responsible business, contributing towards a sustainable world is very important to us, and we are committed to developing and supporting disruptive solutions that will help mitigate the impact on our environment.
“Bringing together CAFU, SirajPower and Creek, this venture will bring a new innovative on-demand solution to the market that provides a green and sustainable energy source, thereby committing to meaningful action to help enable a carbon neutral future.”
Mohammed Abdulghaffar Hussain, chairman of Creek and co-founder of SirajPower, added: “This joint platform will help improve and address some of the recurring challenges experienced by businesses in the construction and industrial sectors when connection to the grid is not a viable option… Through the partnership, we are introducing a fully financed energy storage solution using mobile systems to help customers generate savings and reduce their carbon footprint.”
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