His Highness Sheikh Tahnoon bin Zayed commends ADQ’s contributions to building global business platforms

His Highness Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and Member of the Supreme Council for Financial and Economic Affairs (SCFEA), has chaired the Board meeting of ADQ, an active sovereign investor driving growth and prosperity for Abu Dhabi, in his capacity as Chairman of the Board of Directors of ADQ. His Highness commended ADQ’s contributions to building global business platforms, focusing on critical infrastructure and supply chains.

During the meeting, the Board reviewed ADQ’s financial performance during 2024, which continues its growth trajectory from previous years. The Board also received an overview of key business milestones, underscoring ADQ’s role as an active investor with a focus on unlocking transformative value for its portfolio companies, and ultimately the local economy and communities.

The Board was provided with a comprehensive summary of key transactions, joint ventures, and memorandums of understanding in the last three months, emphasizing their strategic importance and alignment with the organization’s mandate of building global business platforms focused on critical infrastructure and supply chains.

Recent milestones included the establishment of Plenary Middle East, a co-investment platform with Plenary Group, a leading independent investor, developer, and manager of public-private infrastructure projects, targeting public and social infrastructure in the Middle East and Central Asia. Additionally, the formation of Orion Abu Dhabi, a joint venture with Orion Resource Partners, a global investment firm specializing in metals and materials, which will focus on investments in critical minerals in emerging markets across Africa, Asia, and Latin America. Both investments will be housed by the recently established Infrastructure & Critical Minerals cluster, which aims to support the creation of world-class platforms essential to the operation of diverse sectors of the economy.

In continuation of ADQ’s track record of establishing impactful partnerships, a Memorandum of Understanding (MoU) was signed with the International Finance Corporation, the largest global development institution focused on the private sector, to pursue joint high-impact development projects in target geographies. An agreement was also signed with the State Capital Investment Corporation, a sovereign wealth fund owned by the Government of Vietnam, to explore investment opportunities of mutual interest. Another MoU was signed with Eni, a global energy technology company headquartered in Rome, to explore potential areas of strategic cooperation aimed at strengthening supply chains for critical minerals essential to driving the energy transition.

The Board was also updated on key achievements across ADQ’s portfolio of companies. This included the launch of the world’s first 24/7 solar and battery storage giga-project in Abu Dhabi by Emirates Water and Electricity Company (EWEC) and Abu Dhabi Future Energy Company PJSC (Masdar). As the largest project of its kind, it will combine 19 GWh of battery storage capacity with 5.2 GW of solar photovoltaic power, setting a new benchmark in clean energy innovation.

In alignment with the UAE National Strategy for Artificial Intelligence 2031, which seeks to transform the UAE into a world leader in AI, ADQ has developed an AI Board advisor, known as Q, a voice-enabled agentic system that combines multiple AIs working in harmony with state-of-the-art capabilities. Grounded in ADQ’s extensive knowledge base, Q is capable of providing expert advice and valuable insights during board discussions and intelligently articulating strategic perspectives that guide and shape the decision-making process. The AI Board advisor was deployed during this meeting for the first time, positioning ADQ at the forefront of innovation and further strengthening corporate governance.

To conclude, the Board was updated on the non-financial value and impact generated by ADQ through its role in elevating infrastructure and delivering the essentials of life, generating positive impact on communities.

The meeting was attended by H.H. Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, H.E. Jassem Mohamed Bu Ataba Alzaabi, H.E. Mohamed Hassan Alsuwaidi, H.E. Ali Mohammed Hammad Al Shamsi, and H.E. Dr. Ahmed Mubarak Al Mazrouei.

‍His Excellency Mohamed Hassan Alsuwaidi, Managing Director and Group Chief Executive Officer of ADQ, said: “Under the guidance of His Highness Sheikh Tahnoon bin Zayed Al Nahyan, ADQ has been able to make consistent and increasing contributions to driving the resilience and competitiveness of the local economy. The achievements that were showcased to the Board today underscore ADQ’s dedication to partnering with the Government of Abu Dhabi to execute priorities that are set to create enduring value. The recent establishment of a new cluster housing infrastructure and critical minerals investments is testament to that. The two new joint ventures headquartered in Abu Dhabi will serve as a catalyst for the advancement of a broad variety of other sectors with high strategic importance, including energy, manufacturing, and real estate.”