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Inflation, exiting fossil fuels & navigating politics: The challenges facing the EBRD

For more than 30 years, the European Bank for Reconstruction and Development (EBRD) has been investing in countries in Central and Eastern Europe. It's since expanded into the Middle East, Central Asia and North Africa and has plans to move into Sub-Saharan Africa too. The EBRD's President Odile Renaud-Basso discussed some of the challenges facing the development lender, including climate finance, transitioning away from fossil fuels and the Bank's pro-democracy mandate.

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M42’s Environmental Sciences team wins Biotechnology – Environmental Services Award at Middle East Technology Excellence Awards 2024

M42’s Environmental Sciences team has won the prestigious Biotechnology – Environmental Services Award at the Middle East Technology Excellence Awards 2024 for its groundbreaking initiative, Pioneering Marine Conservation: Advanced Genomic Sequencing and AI for Sustainable Biodiversity Management.
The award was a collaborative achievement, as M42 worked closely with its partners, the Environment
Agency – Abu Dhabi (EAD) and Bayanat, a UAE-based company specializing in geospatial data analytics
and AI solutions. This partnership demonstrates how cross-disciplinary collaboration can tackle complex
environmental challenges, bringing together expertise in genomics, environmental science and data
analysis.
The award highlights M42’s innovative approach to marine conservation, utilizing cutting-edge genomic
sequencing and artificial intelligence (AI) technologies to monitor and manage marine ecosystems
sustainably. The project plays a vital role in protecting marine biodiversity by analyzing genetic data to
track species diversity and health while leveraging AI to predict and mitigate environmental threats. This
pioneering initiative is positioned to reshape the region’s approach to marine conservation, aligning
with global sustainability goals.
Commenting on the win, Dr. Wael Elamin, Medical Director, Environmental Sciences, M42 said: “We are
incredibly honored to receive this recognition. Our work in marine conservation is driven by a deep
commitment to sustainable environmental practices. Through the integration of genomic sequencing
and AI, we are creating more efficient and effective ways to preserve marine biodiversity, not just for
the UAE, but for the entire region and beyond. This award is a testament to our team’s dedication and
innovation. Our tech-enabled health solutions for people and the planet are enabling us to predict and
prevent health issues across the world and contribute to global efforts to counter the threats to our
oceans and environment.”
The team’s innovative project demonstrates the potential of biotechnology in environmental services
and reinforces M42’s commitment to reshaping the future of health in a sustainable manner with
technology as a key enabler. The award recognizes M42’s innovative use of AI-driven data analysis,
providing critical insights into marine ecosystem health, while supporting local and global efforts to
combat environmental degradation, aiming to make a lasting impact on biodiversity for generations to
come. The Middle East Technology Excellence Awards celebrate organizations that have made significant
strides in leveraging technology to drive transformation across industries. The awards highlight a diverse range of sectors and innovations, recognizing those at the forefront of technological advancement in the region.

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Green Mobility Hall at WETEX 2024 highlights the latest innovative solutions for green transport

The Green Mobility Hall at the Water, Energy, Technology and Environment Exhibition (WETEX) hosts
leading local and international companies specialising in mobility, transport and green mobility logistics. The Green Mobility Hall highlights the most prominent innovative solutions and practices that use the latest technologies in the individual and public sustainable transport sector. These solutions aim to reduce the operational and infrastructure costs of electric vehicles (EVs), improve energy and resource efficiency in transport and promote the use of hydrogen and low-emission or carbon-free fuels.
Dubai Electricity and Water Authority (DEWA) organises the 26th WETEX from 1 to 3 October 2024 at the Dubai World Trade Centre. “WETEX supports the National Electric Vehicles Policy, Dubai Green Mobility Strategy 2030 and the UAE’s
Net Zero 2050 Strategy. It also promotes the UAE’s leading position in the region in the adoption of EVs, as the UAE has one of the highest ratios of charging stations to EVs in the world. WETEX is a global platform to highlight the latest technologies in energy, water and the environment, as well as all the other sectors that contribute towards achieving net zero and reducing greenhouse gas emissions. According to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change, 23% of net global GHG emission came annually from the transport sector, which generates (8.7 GtCO2-eq). WETEX contributes to achieving national and global climate aspirations to lower the carbon footprint in the transport sector and accelerate climate action,” said HE Saeed Mohammed Al Tayer, MD & CEO of DEWA and Founder and Chairman of WETEX.
“WETEX enhances DEWA’s role in encouraging the use of green and sustainable mobility, while strengthening the UAE and Dubai’s leadership in sustainable transport across the region. DEWA’s EV Green Charger initiative, launched in 2014, led to the creation of the region’s first public charging infrastructure for electric vehicles. The advanced green charging stations infrastructure in Dubai consists of more than 700 in collaboration with stakeholders, including around 400 Green Charging Stations operated by DEWA. This number will increase in the coming years. This includes around 400 Green Charging Stations operated by DEWA,” added Al Tayer.

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Edge Group/SDF Backed Mayman Aerospace Showcases Autonomous Flight Tests of Turbine-Powered VTOL Aircraft at U.S. Department of Defense Airbase

Mayman Aerospace, supported by Edge Group/SDF from the UAE, has successfully conducted flight tests of its RAZOR VTOL test bed at a military facility in Southern California. This test bed replicates the dimensions and weight of the RAZOR P100 and employs the same propulsion, engine gimballing, thrust vectoring, and flight control technologies. Funded in part by the U.S. Department of Defense, these fully autonomous flight tests aimed to validate key systems including avionics, thrust vectoring, flight control laws, software, and command and control (C2) mechanisms. A significant aspect of this testing series focused on transitioning engines from hover to high-speed winged flight—an essential capability for
operational success. These tests also reinforced our track record of successful autonomous take- offs and landings. The RAZOR VTOL aircraft is designed for versatile applications. Its innovative control system
allows for the rapid and secure transport of critical supplies, bolstering military readiness in
demanding environments. Additionally, the RAZOR can be modified to extend the operational
range of small Air-to-Air or Air-to-Surface missiles like Brimstone and Hellfire, enabling
precision strikes over distances exceeding 200 miles.
Launched vertically without the need for specialized launch systems or infrastructure, RAZOR
can function as an ISR platform, target designator, and missile delivery system. Its high-speed
capabilities facilitate the swift interception of drones, presenting a cost-efficient alternative to
traditional cruise missiles. Featuring agile, AI-driven C2/C3 systems, RAZOR guarantees
accurate payload delivery at a fraction of conventional costs.
The RAZOR UAS transforms battlefield intelligence collection, offering rapid and adaptable
data acquisition. Its VTOL capability allows deployment in constrained areas, and with projected
speeds of up to 500 mph, it is equipped with advanced surveillance technology that ensures
superior image quality via large gimbaled sensors operating at high altitudes. As an independent
platform, RAZOR provides immediate and reliable intelligence, enhancing decision-making in
modern warfare.
David Mayman, Founder and CEO of Mayman Aerospace, stated, “Our recent flight tests were a
complete success, and we anticipate the P100 will surpass speeds of 450 knots. As a multi-role,
dual-use technology, RAZOR is redefining the perspectives of defense commanders and civilian
leaders regarding autonomous VTOL applications. We are a software-driven hardware company,
and our team is achieving performance levels previously thought unattainable.”Chief Engineer Dr. Manu Sharma noted, “During these tests, we executed seven autonomous
mission sets, with all systems operating flawlessly. A key objective was to validate recent
updates to our flight software and control laws, especially the transition from hover mode with
outward-canted engines to coordinated winged flight. This transition is critical for our
operational capabilities, and accumulating more autonomous flight time during take-offs and
landings further strengthens our confidence in the system.”
These flight tests signify a notable progression for Mayman Aerospace, with additional test
flights planned for later this year.

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