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The future of Fusion Energy looks bright
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Welcome to our latest edition of Future Thinking.
Last month, Future Planet Capital’s Alexandra Hay-Plumb and Lyle Pentith attended the World Future Energy Summit in Abu Dhabi.
Here are some of their key insights:
☢️ Nuclear Energy –The Emirates Nuclear Energy Corporation showcased the progress of the Barakah nuclear power plant which will supply up to 25% of electricity to the UAE, once all four reactors are online, and accelerate decarbonisation. In addition to traditional nuclear fission, the UAE is also considering new technologies such as Tokamak Energy - the record-breaking commercial fusion company based in Oxford. Founded in 2009, Tokamak combines world-leading scientific, engineering and commercial capabilities to develop a faster and more cost-effective route to commercial fusion energy.
Water & Desalination – We heard about the development of the UAE’s Al Taweelah power and desalination complex, soon to be the world’s largest reverse osmosis desalination plant. Abu Dhabi also unveiled the Liwa Strategic Water Reserve - the world’s largest man-made reserve of high-quality desalinated water. A great week for technology advancing the blue economy - see also our investment into ocean carbon capture with Captura.
Diverse Portfolio –There was a keen focus on the pressing need for investment in multiple pathways for reducing emissions. This was demonstrated by the diverse array of renewable and alternative energies featured during the Summit, including nuclear energy, solar PV and green hydrogen, to name a few - many of which are receiving substantial investment in the region.
Just Transition – The UAE has declared 2023 as the Year of Sustainability. This has been exemplified by the announcement of the winners of the 2023 Zayed Sustainability Prize, many of whom are using new technology to support marginalised communities across the globe. One such notable winner was LEDARS Bangladesh, who integrate water resource management models to solve water scarcity issues in disaster-prone areas.
It was a pleasure to have attended and we’re looking forward to continued progress and investment in the region in innovative and sustainable energy technology.
We’ll be back for more at #COP28!
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We’re thrilled to welcome Alexandra Hay-Plumb to Future Planet Capital as our Global Head of Business Development.
From her previous role as Chief Partnerships Officer at Generation, Alex brings with her a successful track record and significant expertise in building a portfolio of innovative relationships and growing company networks. Her experience in forming pioneering partnerships to ensure equitable access to economic opportunities for all, aligns with our values of being an impact-led venture capital organisation aiming to resolve the world’s greatest challenges.
Don't hesitate to get in touch if you'd like to connect with Alex or any of the FPC Team.
Welcome to the team, Alex.
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