UAE’s leading on-demand refueling and vehicle services company Cafu has partnered with major regional distributed solar energy company SirajPower and climate impact investor Creek to set up a new venture, ‘HYPR’, for smooth distribution of renewable power.
The new venture is a significant step in providing renewable energy solutions as an alternative to polluting diesel generators.
According to the statement, “With the UAE hosting COP28 in 2023 and demonstrating global leadership in reducing carbon emissions, investing in, and developing measures to combat the effects of climate change through its National Climate Plan, this joint venture will contribute to this important agenda by providing a more sustainable energy source.”
HYPR will launch its on-demand clean energy systems using innovative battery storage across the UAE. “This innovation will mark the first-of-its-kind solution in the region using transportable lithium-ion batteries providing customers with a reliable and cost-effective alternative to diesel generators,” said the JV partners in a statement.
“As a responsible business, contributing towards a sustainable world is very important to us, and we are committed to developing and supporting disruptive solutions that will help mitigate the impact on our environment. Bringing together Cafu, SirajPower, and Creek, this venture will bring a new innovative on-demand solution to the market that provides a green and sustainable energy source, thereby committing to meaningful action to help enable a carbon-neutral future. In our endeavors to become a fuel agnostic company, it is collaborations such as HYPR that will accelerate sustainable future to become a reality today.”
HYPR will use its own balance sheet to invest in the battery modules so customers can be offered a pay-as-you-go model with no up-front capital requirements.
Creek Chairman and SirajPower Co-Founder Mr. Mohammed Abdulghaffar Hussain said that “the joint platform will help improve and address some of the recurring challenges experienced by businesses in the construction and industrial sectors when the connection to the grid is not a viable option.”
“Through the partnership, we are introducing a fully financed energy storage solution using mobile systems to help customers generate savings and reduce their carbon footprint. As an end-to-end solar service provider, we want to support the business through their transition to clean energy,” he added.