Luxembourg Investment Firm Establishes “Green” Tech Center In Abu Dhabi

Jan 19 2009 | 3:52pm ET

New Enterprise East Investments (NEEI), a Luxembourg-registered investment firm, has established the Center for Water & Waste Management Technologies (CWaMa) at its Abu Dhabi headquarters.

The center is recruiting best-of-breed cleantech companies and environmental researchers from Europe, Japan, the United States and the rest of the world to “set up shop” at CWaMa and to begin serving the water and waste management needs of the region, says NEEI director Hamid Najafi.

“The enterprises we invite to our center will not only locate their regional business development and sales support activities here, but they will also cluster to become a focal point for local research and development, both at the center as well as at universities region wide,” says Dr. Najafi.

“Our primary goal is to create the most advanced and all-encompassing center for water and waste management in the world,” says NEEI founder and CEO, Fred Korangy.

The CWaMa is the first facility of its kind in the region, where water has always been a scarce resource. The enormous job creation and related population surge expected over the next 20 years will exacerbate the problem, making water “the oil of the 21st century,” according to NEEI.

According to the firm, the CWaMa will benefit from the emphasis being placed on clean and green technologies in the GCC and the broader Mena region. Water and waste management top the list of priorities, followed closely by alternate and renewable energy technologies, another NEEI focus.

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