RAK gears up for top utilities summit
Ras Al Khaimah, November 24, 2013
Some of the biggest names in the regional and international power and water sectors will converge on the UAE this week to discuss key issues and challenges pertinent to the utilities section, while seeking solutions to overcome hurdles in their operations.
The week will see two major utilities and new technologies events – the Global IWPP Summit and Watervent– both focussing on financing for IWPP ventures and new technologies in the utilities industry.
Organised by Fleming Gulf, the Global IWPP summit, the Middle East’s largest and longest utilities summit week, opens today (November 24) at Al Hamra Fort Hotel and Beach Resort and will run to November 26.
The summit, which will be attended by leading government officials, policy-makers, regulatory authorities, financial experts and utilities providers, aims to provide the platform for the participants to discuss ways of collaborating and networking with each other, said the organisers.
Meanwhile, the inaugural Watervent RAK will follow closely from November 27 to 28 at the same venue and will see developers of cutting-edge technologies from US, Europe, Asia and Middle East coming to Ras Al Khaimah to seek venture capital and corporate funding for their innovations.
Watervent RAK is being hosted by Leonard Ventures and Ghantoot Group Investments and entry to the event is free of charge for investors and entrepreneurs.
It is the largest such new technology funding initiative being held in the Middle East and provides a platform for innovators and technologists to present their inventions and patents and seek funding for their projects.
The innovations and projects will reviewed by a host of venture capitalists who will be looking to promote solutions and technologies that can provide a more efficient and cleaner world for tomorrow. These include Masdar Capital, GU Capital and Ghantoot Group Investments.
First held in 2010, Watervent is coming to the Middle East for the first time, with previous editions being held in Philadelphia, London, Zurich and Berlin.Watervent has evolved as an exclusive matchmaking platform designed to bring water technology entrepreneurs and investors together in an exclusive, non-conference, one-on-one setting in order to accelerate growth, assess business opportunities and facilitate financing in the water sector.
Ras Al Khaimah thus is increasingly becoming an innovation hub for new utility models and technologies, said an industry expert.
Some of the most outstanding technologies that will be showcased at Watervent RAK include Wave Power, a solution that harnesses power from waves, Tidal Power to harness power from Tidal changes, New Desalination Technologies Innovative filtration technologies that can operate at extremely low costs. Attendees at the summit hail from the US, Europe, India, Africa, Jordan and the GCC, among others.
Richard Menezes, the executive vice chairman of Utico Middle East, a leading independent player in the region’s utilities industry and the main promoter of the two events, said that a total of $10 million in funding will be provided to the most promising technologies that can help make the world a better place.
“By bringing together the most innovative minds in the world and the foremost funding agencies, Watervent seeks to promote the region’s utilities sector while fostering co-operation and interactions between key players,” Menezes said.
“We have been impressed by the calibre of the innovations that will be featured during Watervent and hope that it can encourage others to pursue similar goals,” he added.-TradeArabia News Service