Dubai-based Quazar Investment has joined hands with a UK-based startup Graphene Innovations Manchester (GIM) to jointly develop and mass manufactures 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, including GIM Concrete, GIM Hydrogen and GIM Smart Clothing.
“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.”
Quazar Investment CEO Mr. Waleed Al Ali said that the new graphene company will take a global lead in making environmentally-friendly concrete and other products.
Chief Financial Officer Mr. 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.
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.