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Renewable energy firm sets up in Dubai to reach out to lucrative global markets

United Arab Emirates: Tuesday, April 12 - 2011 @ 15:01

Rubenius decided to set up in Dubai in view of its strategic location between Europe and Asia, excellent connectivity, business-friendly environment and easy access to global project financing, critical to the company’s ongoing initiatives and growth targets.

The Foreign Investment Office (Dubai FDI), the investment promotion arm of the Department of Economic Development (DED) in Dubai, assisted and guided Rubenius throughout the setting up process.

A world-leader in smart grid products, including street lighting controls and smart meter installations, Rubenius has been operating in the UAE for more than five years. Energy storage helps to optimise the benefits of renewable energy by eliminating conventional back-up systems.

Rubenius’ next step is to set up a $4bn, 1 GW energy storage system, called Energy Warehouse Number 1, in México and follow it up with similar systems in Brazil, Russia, China, India, South Africa and several other emerging economies around the globe.

Operating out of its Dubai headquarters will enable Rubenius to increase efficiencies and easily reach out to strategic markets while funding its ongoing growth through sophisticated global project financing options available across various platforms in Dubai.

“Dubai’s business friendly environment and incentives, such as full exemption from income and corporate taxes, high-tech facilities and infrastructure and the dynamic real estate sector offering family-oriented conveniences were also major factors that influenced our decision,” said Claus Rubenius, Chairman, Rubenius.

“Rubenius bet in the UAE and Dubai has already paid well and the company expects that its location will be one of the strategic factors for its success. With the alternative and renewable energy movement gaining momentum in the country it is possible that after oil, green energy and clean water may be the next big exports of the UAE to the world. Rubenius is pleased to be part of this movement. Rubenius said.

Commenting on the pioneering energy-efficiency initiatives and growth vision of Rubenius, His Excellency Fahd Al Gergawi, CEO of Dubai FDI, said the company has made a strategic choice by reaching out to its key markets from Dubai, rated by the global investor community as the best access point into the region.

“Energy-efficient and clean technologies are fast moving up priority lists worldwide. Dubai and the UAE are leading the region in embracing and advocating smart energy choices. Rubenius choosing Dubai as the ideal platform to develop and export its capabilities means Dubai is acquiring new competencies and the capacity to bring strategic investments to other countries, while itself being a preferred investment destination.”

Global management consultancy A.T.Kearney in its FDI Confidence Index for 2010 ranked Dubai as the 11th preferred FDI destination globally and the number one in the Middle East. FDI Dubai is working on diverse fronts, including policy reforms, to link with entrepreneurs and investors worldwide and showcase opportunities in Dubai.

“A strong appetite for growth, nurtured and promoted by an enabling government, unrivalled infrastructure, competitive trade practices and innovative public-private partnerships, is reinforcing Dubai’s reputation as a hub of business and gateway to the fast-emerging markets in the world. FDI Dubai focuses on optimising this environment for the benefit of Dubai and those who choose to invest in the emirate Companies like Rubenius can add further positive dimensions to this promising environment by bringing significant research and development opportunities in state-of-the-art and transformational technology to Dubai,” said Al Gergawi.

“Rubenius establishing their headquarters in Dubai is an outstanding success for our joint efforts with Dubai FDI to promote bilateral trade and investment. We are confident Rubenius and its growth plans will continue to create strong grounds for increased engagement between Dubai and Mexico as we move forward,” commented Jose Neif Jury Fabre, Middle East business & Economic Affairs Minister at ProMexico, the trade and investment promotion agency of the government of Mexico.

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Tuesday, April 12- 2011 @ 15:01 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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