5th WTA TechnoMart to focus on R&D initiatives to develop core economic sectors

Renewable energy has become a hot topic in the region as more countries in the Middle East are actively exploring the use of alternative and renewable energy resources including wind, solar, nuclear, thermal and hydrogen fusion in a bid to meet rising power demands and to ameliorate global warming from the burning of fossil fuels including coal and oil.

Dr. Farouk El-Baz, Research Professor and Director of the Center for Remote Sensing of Boston University and a strategic advisor to TechnoPark, the science and technology facilitator of Economic Zones World is a strong advocate of alternative power sources.

According to him, "A majority of power generation projects in the region use oil and gas for their energy source. While the region is trying to match energy supply with the rising demands, there has been a surge in heavy investments in energy projects. The United Arab Emirates (UAE), partly because to its exponential growth, is pioneering this movement by considering wind, solar, and more recently nuclear power as viable alternatives."

There are 114 active power generation plants in the Gulf Co-operation Council (GCC) countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE, which are worth a total of well over US $160bn, according to recent reports.

According to the World Energy Council, GCC countries will require a total of 100,000MW of power over the next decade alone. Independent estimates suggest that D$57bn will be invested in the MENA region over the next six years to install new generation capacity, with a total investment in the sector of $200bn over the next 15 years.

Dr. El-Baz, well-known for his ground-breaking work with NASA, will deliver the key note speach at this year's TechnoMart addressing key technological challenges

of the 21st century and reasons why countries are aiming to become knowledge-based economies.

"One of the major areas of focus in Arab nations should be effective implementation of solar energy projects. Already, the sun's contribution to human energy needs is substantial worldwide; solar electricity generation is a growing, multibillion dollar industry. But, the solar share of the total energy market remains small, well below one percent of total energy consumption, compared with roughly 85 percent from oil, natural gas, and coal. Right there we see the potential for massive growth," he added.

Dr. El-Baz explained that in order to make solar energy economically competitive, engineers must find ways to improve the efficiency of the cells and to lower their manufacturing costs. He went on to say that while prospects for improving solar efficiency were promising, it could be greatly improved beyond today's levels. According to Dr. El-Baz, a stellar method of enhancing efficiency involves developments in nanotechnology, the engineering of structures at sizes comparable to those of atoms and molecules, measured in nanometers (one nanometer is a billionth of a meter).

The event, jointly hosted by the World Technopolis Association (WTA) and TechnoPark, will devise strategies on furthering the Middle East's sustainable technology-related growth. The conference programme will begin with leading experts probing the state of technological developments across the globe.

Hamad Al Hashemi, Managing Director TechnoPark said:

"Global technological advances and exchange of ideas is the very spirit of this event. We nurture innovation-led ideas that translate into viable business solutions, especially in the core economic sectors that are the true building blocks of prosperity. We aim to innovate and apply cutting edge high-tech, water, energy and environmental technologies and this event will take us closer to our goals."

The event will bring together professionals from around the world to learn about the latest technical advancements, discuss the challenges facing the region, and network with peers to enhance ideas and drive innovation in the region.

Companies exhibiting at the event cover a wide spectrum of technology sectors, such as: construction, Materials, Chemicals, Semiconductors, Photonics, Renewable Energy, Biotechnology, Medical Devices, Security, Information and Communication Technologies, in addition to leading Universities and R&D centers from Asia, MENA region, the US and Europe.