Dubai firm Quazar eyes $1bn 'green' building materials plant
DUBAI, April 29, 2023
Dubai-based Quazar Investment said it has joined hands with a UK-based start-up Graphene Innovations Manchester (GIM) to jointly develop and mass manufacture eco-friendly building materials which are designed to slash carbon dioxide (CO2) emissions.
The start-up is based in the Graphene Engineering Innovation Centre (GEIC) at Masdar Building within The University of Manchester.
This collaboration will make a substantial impact on global CO2 emissions and help reduce other forms of global pollution. The comprehensive agreement involves a mix of exclusive and collaborative arrangements.
This new company will invest over $1 billion to develop and mass manufacture a range of graphene-based products. These include:
*GIM Concrete - A breakthrough construction material that dramatically reduces CO2 by eliminating cement. GIM Concrete also uses no water, it cures quickly and can be made using recycled materials. GIM Concrete will eventually become carbon negative.
*GIM Hydrogen (Type IV & V) - A graphene-enhanced storage tank and pipe made using advanced proprietary AI-based robots with substantially improved H2 barrier properties and leak prevention.
*GIM Smart Clothing - A protective clothing with PPE technologies that actively cool workwear and improve comfort for people in extremely hot environments.
Graphene was first isolated in 2004 by two scientists at The University of Manchester and they were awarded the Nobel Prize in 2010. Graphene is the strongest known nanoscale material, and it is also highly thermally and electrically conductive.
Quazar Investment CEO Waleed Al Ali said the new graphene company will take a global lead in making environmentally-friendly concrete and other products.
Chief Financial Officer Sameer Salgar said the potential of GIM’s technology to tackle environmental challenges and support the UAE government’s sustainability goals was one factor behind Quazar’s investment decision.
Graphene Innovations Manchester CEO Dr Vivek Koncherry said: "We are proud to be associated with Quazar so that we can assemble a powerful world-class team to provide us the opportunity to massively deploy our proprietary graphene-based technologies."
"We believe that these ground-breaking technologies will make a significant impact on reducing carbon dioxide emissions and improving sustainability, while at the same time providing companies with the ability to improve the performance of their products," he added.
The deal deepens the UAE’s decade-long drive to exploit graphene’s sustainability potential by partnering with the University of Manchester’s graphene ecosystem.
In 2014, Abu Dhabi’s state-owned renewables company Masdar provided £30 million to sponsor a Graphene@Manchester building.
In 2021, the UAE government provided a $100 million grant to Dubai-based Khalifa University to establish a graphene research and innovation centre.
Last November, the two universities signed a partnership to boost funding and collaborate on graphene innovation, it added.-TradeArabia News Service
