Positive Zero, a decarbonisation firm based in Dubai, announced that BlackRock has agreed to invest up to $400 million in the firm through a diversified infrastructure fund.
As per this strategic agreement, BlackRock is set to invest up to $400 million in Positive Zero, consolidating the company’s position as a key player in the Gulf Cooperation Council’s (GCC) energy transition.
It is believed that the investment will empower Positive Zero to expand its sustainable energy solutions customised as per the need for various clients, including commercial, industrial, and public sector entities, contributing to the GCC’s efforts to reduce carbon emissions.
The statement said that the firm was born from the integration of SirajPower, Taka Solutions, and HYPR Energy, adopting a comprehensive approach that encompasses decentralized power generation, resource efficiency and clean mobility.
Mohammed Abdulghaffar Hussain, Co-Founder and Chairman of Positive Zero, highlighted the transformative nature of the partnership with BlackRock, that aligns with the ambitious targets set at COP28.
David Auriau, Co-Founder and CEO of Positive Zero said, “The company is committed to redefining sustainable infrastructure and creating an ecosystem where sustainability is synonymous with profitability and accessibility.”
Ed Winter, Head of APAC and Middle East for Diversified Infrastructure at BlackRock, is hopeful about the investment, recognising Positive Zero’s strong team and track record. “The partnership aims to capitalize on the GCC’s energy transition objectives and contribute to achieving economic growth in the region,” he noted.
