UAE’s Majra strikes MoU with agriculture firm HyveGeo

By Shilpa Annie Joseph, Official Reporter
  • Follow author on
Majra-HyveGeo sign MoU
Officials during the signing ceremony | WAM

The Corporate Social Responsibility (CSR) UAE Fund, Majra, has signed a Memorandum of Understanding (MoU) with HyveGeo agriculture company to regenerate desert sand into arable soil for home-sustainable food and cleaner air.

HyveGeo specializes in sequestering carbon dioxide using microalgae (1.8 tons of carbon for one ton of microalgae), as well as converting microalgae to biochar, biofertilizers, and biostimulants.

The MoU was signed on the sidelines of COP28. The signing ceremony was attended by Mr. Abdullah bin Touq Al Marri, Minister of Economy and Chairman of Majra, and Mr. Mubarak Al Nakhi, Under-Secretary of the Ministry of Culture and Youth.

Ms. Nuha Safar, Director of Majra, said that this partnership signifies the commencement of HyveGeo’s innovative pilot program in the UAE, strategically leveraging advanced microalgae technology.

The Majra Director further noted that “the primary goal is to spearhead desert reclamation, combat carbon emissions, and fortify the UAE’s global leadership in climate action. Aligned with international commitments, the initiative actively contributes to the global drive to achieve a 43 percent reduction in emissions by 2030.”

Mr. Abdulaziz Bin Redha, Co-founder and CEO of HyveGeo, commented that, “We are thrilled to partner with Systemanova and Majra in this ambitious mission to green the desert and remove millions of tons of carbon from the air. By leveraging blended finance for climate investment, this catalytic funding sets a precedent for how private capital can deliver sustainable impact alongside government backing and incentivize and accelerate the development of carbon removals.”

“Systemanova and UAE’s leadership in climate action will help pave the way to accelerating our mission, and it’s a vote of confidence in our vision and capabilities. Together, we will plant the seeds for a greener, more resilient future for our planet and its people,” Mr. Redha added.

Trending | ADQ & Qazaqstan unite to set up co-investment platform