Long-term partnership for Siemens and Masdar
Strategic partnership deal is finally inked between the two companies
The partnership between Siemens and Masdar has reached a significant milestone as the two companies have signed the detailed agreements on their long-term strategic partnership.
First announced in 2010, the deal will ensure long-term collaboration in the field of renewable energy, and Siemens is also to shortly open a centre of excellence for building technologies in Masdar City.
Wolfgang Dehen, CEO of the Siemens Energy Sector and Member of the Siemens Board, said: “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, 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 with a science and technology institution that the company 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, 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.