Oman Energy Storage Vehicle Equipment Manufacturer

Will Oman invest in electric vehicle battery start-up 'our next energy'?

Reuters The Oman Investment Authority has invested in US-based electric vehicle battery start-up Our Next Energy (One). Oman’s sovereign wealth fund also signed a strategic co-operation agreement with One to identify potential areas of partnership in energy and battery storage in the sultanate, Oman News Agency reported on Wednesday.

Does Oman's sovereign wealth fund have a strategic partnership with one?

Oman’s sovereign wealth fund also signed a strategic co-operation agreement with One to identify potential areas of partnership in energy and battery storage in the sultanate, Oman News Agency reported on Wednesday. The financial value of the transaction was not disclosed.

Will Oman Investment Authority support one?

“Having the support from investors like Oman Investment Authority will accelerate ONE’s progress towards a sustainable future and allow the organization to scale its transportation and grid products into global markets,” said Mujeeb Ijaz, CEO and Founder of ONE.

Who is investing in Oman?

The investment round was led by venture capital firm Fifth Wall and Franklin Templeton, according to its website. Oman, the largest non-Opec producer in the Middle East, has been investing heavily in sectors such as renewable energy and tourism in an effort to diversify its economy.

Is Oman the largest non-OPEC producer in the Middle East?

Oman, the largest non-Opec producer in the Middle East, has been investing heavily in sectors such as renewable energy and tourism in an effort to diversify its economy. The sultanate is on track to become one of the largest producers of hydrogen in the world by 2030, the IEA said in a June report.

Does Oman have a hydrogen project?

Last year, Oman set up a state-owned company, Hydrogen Oman, to oversee the development of hydrogen projects in the country.