Abu Dhabi, February 27th, 2007 (WAM)- Abu Dhabi's drive tobecome a leader in the alternative energy sphere was demonstratedtoday as HRH Prince of Wales met with leading figures from theMasdar Initiative, Imperial College's Energy Futures Lab, BPand Shell to learn how industry and academia are joining forcesto address the energy challenges of the 21st Century.

The presentations took place in Abu Dhabi as part of the royalvisit to the region. Masdar is Abu Dhabi's new economic developmentprogram to drive innovation in energy, technology and sustainableresources. Through collaboration with leading research institutionsacross Europe, Asia and North America, its projects will addresskey global issues, including energy security, climate changeand sustainable development.

'It may seem odd that a country blessed with some of the world'slargest hydrocarbons reserves is taking a pioneering role inthe field of alternative energy,' explained Sultan Al Jaber,CEO of the Abu Dhabi Future Energy Company that is mandated todrive the Masdar Initiative. 'We see renewable energy sourcesas complementary to traditional hydrocarbons, given the rapidgrowth in overall world energy demand. To help meet this demand,Abu Dhabi is leveraging its substantial resources and expertisein the world's energy markets to develop the technologies ofthe future' he added.

Masdar has formed strategic alliances with some of the mostprominent names in global industry and academia - including theUK's BP, Shell and Imperial College - to develop initiativesand programmes in such areas as solar energy, biofuels, hydrogenpower and carbon management.

'The Masdar Initiative demonstrates the vision of the governmentof Abu Dhabi, a vision that we in BP share. We recently launchedBP Alternative Energy, a new business that over the next decadewill invest up to $8 billion on developing low-carbon and renewableenergies, and we look forward to collaborating with Masdar, sharingour experience and our technology in support of Abu Dhabi's vision,'said David Dalton, BP Chief Representative in Abu Dhabi.

BP and Masdar are exploring a number of areas of mutual interestin the alternative energy and low-carbon power space, includingthe feasibility of hydrogen power generation. 'We believe hydrogenpower presents a unique opportunity for Abu Dhabi to lead theworld in low-carbon power generation and at the same time maximisethe value from its existing oil and gas reserves', Dalton added.

The Masdar Initiative includes a 250 million dollar Clean-TechFund, a special economic zone for advanced energy industry, aplanned graduate teaching and research institute in Abu Dhabi,a carbon management unit for carbon emission reduction as wellas the Masdar Research Network, a unique collaborative researchframework with leading international scientific and researchinstitutions.

Nejib Zaafrani, Managing Director for Shell Abu Dhabi, expressedhis enthusiasm for the scope of opportunities available, explainingthat "Masdar is a unique and ground-breaking initiative. We areproud to work with Masdar on greenhouse-gas reduction, whichis very much a part of Shell's overall drive to provide for asustainable environment for the coming generations. Shell's ownenergy efficiency improvements are already delivering globalCO2 savings of about 1 million tonnes a year. In addition, wehave invested over $1billion in alternative energy sources likewind, solar and hydrogen since 2000".

For Imperial College London, energy research is a strategicpriority. Through its Energy Futures Lab, world-class researchdepartments are tackling the major energy issues facing the globalcommunity over the next 20-50 years. The Lab is collaboratingthrough Masdar with five global research centers, and is alsopartnering with BP and Shell on two major research programmesin advanced modelling of urban energy systems and novel technologiesfor cleaner utilisation of fossil fuels.

'The projects developed under the Masdar Initiative in collaborationwith its international partners are for the long term. The importantthing is the direction of change towards a lower carbon world,and we are delighted to see Abu Dhabi taking a lead in this work,'BP's Dalton concluded.