Energy tech venture launches in the Middle East to create a regional paradigm shift
DUBAI — AFKAR Ventures, a MENA-based first mover in energy tech, brings together a team of the region’s leaders in energy, engineering, fintech, and management. The founding team consists of six globally experienced members looking to seed startups as well as invest in established companies in energy and technology.
With a clear and focused vision, AFKAR aims to help shape a sustainable and independent future for the MENA region’s energy tech sector. With a proven track record in innovation and over a century of combined experience in energy and technology, the founding team is made up of: Adnan Ghabris (chairman); Maen Razouqi (executive director); Zied Ben Hamad (executive director) ; Ghassan Mirdad (director); Raja Al Mazrouei (director) and Mazin Al Lamki (director)
“AFKAR Ventures’ three main pillars are to seed and scale startups, accelerate the expansion of established companies, and grow the returns of institutions via fit-for-purpose solutions. AFKAR is not a conventional energy services or product manufacturing company, nor is it just an investment powerhouse. It will establish some unique business models combining both,” said Ghabris.
AFKAR is taking many notable and novel approaches to age-old problems in energy and technology, converting the region from a technology importer to a technology creator.
Although collectively possessing robust know-how in energy, AFKAR aims to shift the region’s current energy paradigm, enabling unique applications of technologies and innovations, as well as unforeseen manufacturing opportunities. “We will promote the creation of fit-for-purpose regional intellectual property,” says Razouqi.
Al Mazrouei, a leader in FinTech and one of the directors of AFKAR, said, “Innovation in the energy sector is a prominent opportunity in the MENA region; AFKAR will play a major role in enabling the transformation of this sector and identifying ventures that will unlock the full potential of our region.” — AETOSWire
