DUBAI, 18 November 2021 – More than USD 200 million have been raised to help end water scarcity in the Middle East, using solar energy. UK company Solar Water Plc hosted a signing ceremony today, 18 November, at Expo 2020 Dubai’s UK Pavilion to celebrate raising the investment that came from global corporate financier, The Gideon Group.
Solar Water uses the energy from the sun for desalination systems, creating freshwater from seawater, and providing scalable, sustainable supplies of potable or freshwater that is planet-friendly, has zero carbon emissions, and can run 24/7.
The signing ceremony was hosted by Simon Penney, the UK’s Trade Commissioner for the Middle East and Consul General to Dubai and was attended by representatives from the UK’s Department for International Trade (DIT), along with business and government dignitaries from the region.
Solar Water provides a solution for governments, water municipalities and businesses that require the generation of fresh or potable water to meet water requirements for a growing population and rapidly expanding socio-economic development ambitions, while current water supplies like groundwater aquifers continue to decline and degrade.
It comes at a time when leaders, nations, cities and industries have committed to net zero carbon targets in the coming decades, and with traditional solutions creating an expanding carbon footprint by burning fossil fuels, Solar Water can now solve this conundrum with its affordable, sustainable, 100 per cent zero-carbon emissions process
With its first CSP dome system already commissioned at eco-city Neom in Saudi Arabia, Solar Water is currently in discussions to deploy its green tech solution across more than 30 markets worldwide, with contracts and projects agreed to and/or pending in Jordan, Qatar, the UAE, Egypt and beyond.
Simon Penney, Her Majesty’s Trade Commissioner for the MEAP and Consul General to Dubai, said: “Here in the Middle East, innovations from the UK are helping to accelerate the region’s shift from fossil fuels to renewable energy. We are delighted that Gideon Group and Solar Water Plc have partnered to deliver green technology at scale in the region. Working together, countries and businesses can develop zero-emission solutions faster, increase economies of scale, and bring down costs more quickly. Following the UK’s hosting of COP26 in Glasgow, now is the time for us to work ever more closely together to help shape a greener, cleaner and more prosperous future.”
Solar Water CEO David Reavley, said: “Our partnership with Gideon Group underpins and makes possible the implementation of our ground-breaking green technology, to solve the water scarcity crisis whilst mitigating climate change. Having recently attended events such as Saudi Green Initiative, COP26 and now Expo 2020, it is clear that the region is taking a lead in green technology and sustainability solutions. We are proud to be committed to a green and sustainable water future and look forward to a long and successful association with the region.”
Salman Khan, Gideon Group CEO, added: “We are excited about our partnership with Solar Water, not only because it affords us an opportunity to finance much-needed water projects within the GCC/ME Region, but because Solar Water’s GreenTech technology allows us to do so in an environmentally sensitive and sustainable manner.”