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Oman''s wealth fund invests in US-based EV battery start-up

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

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OIA invests in US battery tech startup

MUSCAT, SEPT 6 Oman Investment Authority (OIA) has announced an investment in the US-based company ''Our Next Energy (ONE),'' which specializes in innovative battery technology for Electric Vehicles (EVs) and energy storage.

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Oman government offers tax incentives to promote EV purchases

Muscat: Starting July 1, 2023, the Sultanate of Oman has announced a number of customs and tax incentives and facilities, to encourage the acquisition of emission-free electric

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Oman launches strategic study on energy mix, storage options

The ''Optimum Energy Mix and Storage Options Study'' is one of a large portfolio of initiatives currently in various stages of development and implementation with the overall goal to drive Oman''s Net Zero journey. It spans projects and programmes to support the adoption of large-scale solar and wind based renewables, enhance energy

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Construction starts on polysilicon production facility in Oman

patrick.jowett@pv-magazine . Construction has begun on a $1.35 billion polysilicon production facility in Oman, billed as the first project of its kind in the Middle East. It is scheduled to

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Oman Investment Authority Ventures into Electric Vehicle Battery Start-up, Our Next Energy (One) – Majan Center for Renewable Energy

The Oman Investment Authority has made an undisclosed investment in the US-based electric vehicle battery start-up, Our Next Energy (One). This move is in line with Oman''s commitment to achieving net-zero emissions by 2050. The investment aims to bolster

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Hydrom

Muscat: Hydrom, the Sultanate''s green hydrogen orchestrator, announced signing two new green hydrogen projects in Dhofar worth US$ 11 billion. The signings follow the successful completion of Hydrom''s second round of auctions bringing the total hydrogen production in Oman to 1.38 million tonnes per year (mtpa) by 2030.

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Policies to promote electric vehicle deployment – Global EV

ZEV mandate. British Columbia: 10% ZEV sales by 2025, 30% by 2030 and 100% by 2040. Québec: 9.5% EV credits in 2020, 22% in 2025. New Energy Vehicle dual credit system: 10-12% EV credits in 2019-2020 and 14-18% in 2021-2023. California: 22% EV credits by 2025. Other states: Varied between ten states.

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Hydrogen Fuel Cell Vehicle Development in China: An Industry

A well-to-wheel (WTW) analysis is required to comprehensively assess the environmental impact of a vehicle technology, especially FCVs. Compared with electricity, the power source of battery electric vehicles (BEVs), the hydrogen supply, is much more complicated and diversified, which requires advanced production, purification, transport,

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Investment Vehicles: Explanation and Types

Investment Vehicle: An investment vehicle is a product used by investors with the intention of gaining positive returns. Investment vehicles can be low risk, such as certificates of deposit (CDs

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Enhancing electricity supply mix in Oman with energy storage systems

Currently, the contribution of renewable energy in the supply mix is negligible. According to Oman 2040 vision, the contribution of renewable energy should reach 20% and 35–39% of total consumption in the years 2030 and 2040, respectively. The first 500 MW solar PV power plant is to be commissioned in 2021.

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India Energy Storage Week (IESW) – International Conference

July 1 @ 9:00 am - July 5 @ 6:00 pm. Africa Energy Forum. World Hydrogen Week 2024. The 10th edition of India Energy Storage Week (IESW) is our annual flagship event, a one-stop networking platform for energy storage, e-mobility & green hydrogen sector. The aim is to get the entire value chain of these sectors at one venue.

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Ministry of Commerce, Industry and Investment Promotion to review its plan for 2022

The meeting will be attended by Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion Muscat: The Ministry of Commerce, Industry and Investment Promotion will organise on Monday to review its accomplishments in the past and for announcing its plan for the current year.

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Oman targets 22,000 electric vehicles by 2030

MUSCAT: A comprehensive strategy for the decarbonization of Oman''s transport sector targets, among other things, the introduction of an estimated 22,000 electric vehicles by 2030, up from a few hundred presently.According to Eng Said Hamood al Maawali, Minister of Transport, Communications and Information Technology, a

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Muscat Investment House | About Us

Who We Are. Founded in 1992, Muscat Investment House has expanded over the past three decades to become one of the largest and most prominent business conglomerates in the Sultanate of Oman. Renowned for its distinctive creative vision and it''s community development, MIH acts as a flagship company orchestrating more than twenty diversified

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Oman Investment Authority Invests in Our Next Energy

I agree. Oman Investment Authority Invests in Our NextEnergyMuscat, 6 Sep (ONA) --- Oman InvestmentAuthority (OIA) announced its investment in the US-based company ''Our NextEnergy (ONE),'' which specializes in innovative battery technology for Electric Vehicles(EVs) and energy storage. This step comes in continuation of OIA''sefforts to

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Financial Incentives for Hydrogen and Fuel Cell Projects

The Clean Vehicle Credit maintains the existing $7,500 for the purchase of fuel cell electric vehicles by creating a qualified new clean vehicle credit built on the 30D credit for plug-in battery electric vehicles:. Adds a retail price cap of $55,000 for new cars and $80,000 for pickups, vans, and sport utility vehicles; Credit is reduced or eliminated if a certain

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MoCIIP issues standard for hydrogen cars

Muscat – The Ministry of Commerce, Industry and Investment Promotion (MoCIIP) has issued the Omani specification standard for hydrogen-fueled vehicles. The

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MoCIIP streamlines investment procedures in Oman

Published: 7:34 PM, Jun 11, 2023. Listen. MUSCAT: The Ministry of Commerce, Industry and Investment Promotion (MoCIIP) issued yesterday Ministerial Decision No. 361/2023 on streamlining investment procedures and facilitating investors. The decision provided that the Investment Services Centre of the Ministry through the ''Invest in Oman lounge

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Thailand BOI Announces New Incentives for Investor Retention

The 2023-2027 Investment Promotion Strategy announced in October aims to help restructure the country''s economy and ensure Thailand is innovative, competitive, and inclusive as it competes in the post Covid-19 world. The strategy sets to encourage technological advancement, the transition to green and smart Industries,

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Full article: Enhancing electricity supply mix in Oman with energy storage systems

Currently, the contribution of renewable energy in the supply mix is negligible. According to Oman 2040 vision, the contribution of renewable energy should reach 20% and 35–39% of total consumption in the years 2030 and 2040, respectively. The first 500 MW solar PV power plant is to be commissioned in 2021.

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Electric Vehicles in Oman – What is the outlook and what

lity vehicles (SUVs), a popular vehicle seg-ment in Oman. Reasonable forecasts (such as those from Bloomberg New Energy Finance) suggest PEVs will reach upfront price

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Oman Investment Authority

His Majesty Sultan Haitham Bin Tarik Al Said, Sultan of Oman issued a Royal Decree, No 61/2020, on the establishment of Oman Investment Authority. Article (1) stipulates that a state department to be named "Oman Investment Authority" shall be established and that it shall have a legal identity, enjoy financial and administrative autonomy and report to

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What is the optimized cost for a used battery

An electric vehicle is considered as one of the promising alternative transport due to its eco-friendly zero CO 2 emissions. This trend causes a new environmental issue, Li-ion battery waste, and diverse plans for the used battery are suggested for preventing it. A stationary energy system connected to 1 MW photovoltaic

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Energy storage solutions key to achieving MENA''s ambitious renewable targets

Energy storage solutions key to achieving MENA''s ambitious renewable targets. The latest report by the Arab Petroleum Investments Corporation''s (APICORP) warns that MENA countries must rapidly scale up and integrate variable renewable energy (VRE) – such as solar PV and onshore wind – into their respective

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OQ: a vehicle to drive investment in Oman

As the largest integrated energy group in Oman, the OQ Group has an inherent responsibility to attract investors, especially in the energy industry. Most of the expectations and aspirations outlined in Oman Vision 2040 apply to an integrated energy group, like OQ, and that is why we see ourselves as a vehicle to drive and lead investments in the

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Previous edition

Subscribe French-Korean consortium wins bid for Oman''s $460m solar project in Manah MUSCAT: The partnership of EDF Renewables, a global leader in clean energy development, and Korea Western Power Co Ltd (KOWEPO), [..] Read More Mar 22, 2023

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Oman''s wealth fund invests in US-based EV battery start-up

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.

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Energy storage a key goal for Oman: Al Aufi

Energy storage technologies and systems allow for the storage of energy during times of surplus availability for utilization during times of limited supply. Eng Salim bin Nasser al Aufi (pictured), Minister of Energy and Minerals, affirmed Oman''s commitment to developing storage capacity to address imbalances in supply from

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Deal signed for development of Oman''s EV infrastructure

Muscat – Oman Oil Marketing Company (OOMCO) on Sunday announced the execution of a binding Heads of Terms with Synergy Investment LLC to establish

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Oman-Saudi partnership to invest $3 bn in EV batteries, energy storage, food security

Both groups have agreed to place industrial manufacturing, renewable energy, future technologies, innovation, modern agriculture, digital economy, education, healthcare and food security, as the top priority sectors of

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EVs to dominate the Oman auto market by 2035

The initiatives include automobile specifications in collaboration with the Ministry of Commerce, Industry, and Investment Promotion roadmaps for hydrogen

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Analysis: Clean energy was top driver of China''s economic growth

Clean-energy investment rose 40% year-on-year to 6.3tn yuan ($890bn), with the growth accounting for all of the investment growth across the Chinese economy in 2023. China''s $890bn investment in clean-energy sectors is almost as large as total global investments in fossil fuel supply in 2023 – and similar to the GDP of Switzerland or Turkey.

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