Masdar, Abu Dhabi's renewable energy company, and Siemens have signed the detailed agreements on their long term Strategic Partnership, which was first announced in October 2010. "Today the partnership of Siemens and Masdar has reached a significant milestone of what will be a long term strategic collaboration," said Wolfgang Dehen, CEO of the Siemens Energy Sector and Member of the Siemens Board. "Not only have we firmly established the framework of our technology cooperation, but also the relocation of our regional headquarters to Masdar City. This marks the first time that Siemens has moved headquarters of a global division, that was established in Germany, into a region; a unique commitment to Abu Dhabi and the Middle East and a convincing demonstration of our vision to act as a global company with strong links to our customers."
Siemens' proposition to research and develop new, clean technologies with Masdar Institute, represents the largest global commitment of its kind with a science and technology institution that Siemens has ever embarked upon. The agreement entails a long term R&D program for Smart Grids, Smart Buildings, and Carbon Capture and Storage in form of scholarships and R&D funding, as well as educational programs for the advancement of the knowledge economy in the United Arab Emirates. The research and development cooperation at Masdar Institute is in support of Abu Dhabi's pledge to develop a knowledge driven society.
"With this long term and strategic partnership with a leading global company, such as Siemens, Masdar will establish the foundations for developing and testing new technologies involving energy efficiency and carbon abatement that have both regional and global benefits", said Dr. Sultan Al Jaber, Chief Executive Officer of Masdar
More and more people are living in cities which now account for 75 percent of the energy consumed worldwide and are responsible for 80 percent of greenhouse gas emissions. "We are sure that this groundbreaking clean energy project in Abu Dhabi will also promote sustainable cities globally," Dehen added.
The move of both the global oil and gas headquarters and the regional headquarters to Abu Dhabi underlines Siemens' commitment to the Middle East. The company's Middle East region stretches from Pakistan, to the countries of the Gulf Cooperation Council, Jordan, Lebanon, Syria, Egypt, and Libya.
In the near future Siemens will open a centre of excellence for building technologies in Masdar City.
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About Masdar
Masdar is Abu Dhabi's multi-faceted initiative advancing the development, commercialisation and deployment of renewable and alternative energy technologies and solutions. The company serves as a link between today's fossil fuel economy and the energy economy of the future - developing the "greenprint" for how we will live and work tomorrow. Backed by the stability and reputation of the Mubadala Development Company, an investment vehicle of the government of Abu Dhabi, Masdar is dedicated to the emirate's long-term vision for the future of energy. For more information about the Masdar Initiative, please visit: www.masdar.ae
Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is the world's largest provider of environmental technologies, generating some €28 billion - more than one-third of its total revenue - from green products and solutions. In fiscal 2010, which ended on September 30, 2010, revenue totaled €76 billion and net income €4.1 billion. At the end of September 2010, Siemens had around 405,000 employees worldwide. Further information is available on the Internet at: http://www.siemens.com.
© Press Release 2011
