Abu Dhabi and Spain sign advanced energies research agreement

Notes and media contacts

For further information, please contact: Peter Nicholson +971 2 698 8050

About Masdar and the Abu Dhabi Future Energy Company:

The Abu Dhabi Future Energy Company (ADFEC) is Abu Dhabi's vision and investment in the future of energy and environmental sustainability - a private joint stock company established and wholly-owned by Mubadala Development Company. ADFEC drives the Masdar Initiative, a multi-billion dollar, multi-faceted response to the need for a global focus on the development of advanced energies and sustainability-related technologies.

Masdar is designed to ensure that Abu Dhabi grows its share of the global energy market by fostering the development and commercialization of advanced and innovative technologies in renewable, alternative and sustainable energies for a cleaner, safer environment and future.

Masdar has partnered with the world's most prominent companies, educational institutions and investment firms to lead and advance a global strategy of international knowledge and capability to change the way the world understands energy and create a historic global shift to new energy sources and sustainable resource utilization.

Masdar is comprised of six strategically designed and focused units:

MASDAR INSTITUTE OF SCIENCE AND TECHNOLOGY - in partnership with Massachusetts Institute of Technology (MIT), will offer Masters and PhD programs in science and engineering focused on advanced energy and sustainability technologies.

MASDAR RESEARCH NETWORK - a unique collaborative network of world-class scientists and researchers linking the Masdar Institute of Science and Technology and seven leading global scientific research centres on three continents.

INNOVATION & INVESTMENT - the investment and commercialization vehicle for advanced energy and sustainability technologies.

SPECIAL PROJECTS - develops capital-intensive projects including large-scale manufacturing and deployment of new energy technologies and systems.

CARBON MANAGEMENT- spearheads the development of multi-sector greenhouse gas and emissions reduction projects.

THE MASDAR ZONE - a unique, integrated 'Green Community' in the heart of Abu Dhabi hosting Masdar and a carefully selected pool of international tenants who will invest, develop and commercialize advanced energy technologies.

About The Ministry of Industry, Tourism and Trade of the Kingdom of Spain:
MITT is a branch of the Spanish national Government that is mandated (often in coordination with regional Governments and industry- branch commissions) to provide strategic policy on industry, tourism and trade. It is also a leading part in the decisions - making process to establish Spanish position in the European Union in these three fields.

About The Executive Affairs Authority:
The Executive Affairs Authority is a specialized government agency that is mandated to provide strategic policy advice to the Chairman of the Abu Dhabi Executive Council, His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

The Executive Affairs Authority provides the Chairman of the Executive Council with advice and visibility across all portfolios of Government in Abu Dhabi, and facilitates greater coordination in the development and implementation of policy in the Emirate. H.E Khaldoon Khalifa Al Mubarak is Chairman of the Executive Affairs Authority.

The Executive Affairs Authority consists of five specialized advisory units:
1. Economic Affairs
2. Social & Environmental Affairs
3. Legal Affairs
4. Urban Planning
5. Strategic Communications Affairs

About Spain:

Spread over some 500,000 square Kilometers, Spain is the second largest country in the European Union and one of its 27 members. Its population is 42 millions inhabitants.

Spain has the 8th largest economy in the world. A stable economy with the low inflation, low interest rate and budget surplus, it has an annual GDP growth of 3.9%, outpacing the EU average. It is also an open economy with a 55, 77 % trade to GDP ratio, above the 51% OCDE average, and the 6th largest FDI recipient in Europe and ninth in the world.

About Abu Dhabi:

Spread over 87,340 square kilometres, Abu Dhabi is the largest of the seven emirates which make up the United Arab Emirates and accounts for more than 85% of the country's total landmass. The UAE is one of the six members of the Arabian Gulf Co-operation Council.

Abu Dhabi city, built on the largest of almost 200 natural offshore islands in the emirate, is the capital both of the emirate and of the UAE. It is the federal seat of government and home to most ministries and institutions, embassies, state broadcasting facilities and oil companies.
Abu Dhabi's population is currently around 1.6 million and is expected to grow by 6.8 per cent per annum over the next decade to a projected 3.4 million by 2015.

Abu Dhabi has an estimated 9.2% of the world's proven oil reserves and 4% of its total proven natural gas reserves. The emirate has a per capita income of approximately US $30,000. Realizing the challenges posed by the country's heavy economic reliance on finite carbon resources, the emirate's leadership is actively pursuing economic diversification.