The Abu Dhabi Department of Economic Development (ADDED) has signed a Memorandum of Understanding (MOU) with Inovartic Investment, a leading technology innovation company, to establish a facility in Abu Dhabi that will produce graphene and graphene-supported products.
According to Industry sources, this strategic partnership marks a huge step towards boosting advanced material manufacturing in the region and beyond and is inclined with Abu Dhabi’s vision to become a global hub for cutting-edge industries and technological innovation.
H.E. Badr Al-Olama, Acting Director General of Economic Affairs at ADDED, stated: “This partnership is a testament to Abu Dhabi’s commitment towards fostering a dynamic and diversified economy that supports new industries to ensure economic growth and prosperity. By working with Inovartic Investment, we are poised to make substantial advancements in the field of advanced material manufacturing, reinforcing our dedication to technological advancement and innovation in key sectors.”
Saif Aldarmaki, Chairman and Co-Founder of Inovartic Investment, expressed his enthusiasm, indicating that the agreement will act as a cornerstone for the future of advanced materials manufacturing.
“Our collaboration with the Abu Dhabi Department of Economic Development enhances our role as innovators, and promotes sustainable growth and economic diversification for the Emirate. We look forward to the transformative impact this partnership will have on the industry and the region,” he added.
Anwar Hussein, Managing Partner and Co-Founder of Inovartic Investment stated: “With this MOU, we are setting the stage for a new era of technological innovation and industrial excellence. Our partnership with the Abu Dhabi Department of Economic Development will enable us to push the boundaries of what is possible in advanced manufacturing, contributing to a more sustainable and prosperous world.”
According to Industry sources, Graphene and Graphene-aided merchandise are a core input for electronics and semiconductors that are broadly utilized across an array of vital sectors, including healthcare, biotechnology, transportation, and environmental conservation.
Industry sources also confirmed that by leveraging pioneering technologies that are core aspects to emerging sectors like Big Data, Artificial Intelligence, Augmented Reality and the Internet of Things, Abu Dhabi’s manufacturing sector is boosting industrial innovation, quality, and efficiency. In turn, industrial excellence is set to trigger the Emirate’s Falcon Economy vision, which focuses on transforming Abu Dhabi into an export-driven, resilient economy empowered by a highly skilled workforce to leverage advanced technologies and emerging disruptive economic trends.
