Oman's 44.01 completes $5mln additional Series A investment
MUSCAT: Award-winning Omani climate tech startup 44.01 has received an additional $5 million in Series A investment from Norwegian sovereign investor Nysnø Climate Investments and MENA-focused VC fund Jasoor Ventures, bringing the total Series A fundraise to $42 million.
The Series A round was led by Equinor Ventures in July 2024 with Shorooq Partners in the UAE, as well as (in alphabetical order) Air Liquide Venture Capital (ALIAD), Alumni Ventures, Amazon's Climate Pledge Fund, Climate Investment, Innovation Development Oman, Planet A Ventures, Salica Oryx Fund, Siemens Financial Services, Sumitomo Corporation and several other investors. Existing investors including Breakthrough Energy Ventures also recommitted to 44.01's technology by participating in the round.
Nysnø Climate Investments, the Norwegian state's climate investment company, invests in companies and funds with technology for reducing greenhouse gas emissions. With a managed capital of 5.4 billion NOK, Nysnø invests in renewable energy, digital technologies, resource efficiency, sustainable consumption and circular economy.
Additional investment from Norway and MENA reflects international optimism about the potential of mineralisation to help countries meet their Net Zero ambitions. Mafic and ultramafic rock formations capable of mineralising CO2 are found on every continent making 44.01's mineralisation technology a truly global climate solution. Mineralisation projects can be built quickly and modularly, offering a cost-effective alternative to conventional geological carbon storage.
44.01 is now working to further develop and commercialise its technology. In 2024, 44.01 and ADNOC announced plans to scale up deployment of carbon mineralisation in the UAE following a successful pilot. 44.01 is also evaluating international opportunities, including in Norway where the company has recently established an office.
Talal Hasan, Founder and CEO of 44.01, said 'I am excited to welcome Nysnø and Jasoor to 44.01. We believe carbon mineralisation will play a significant role in helping protect and repair our climate, and I look forward to working with our new investors to help scale our technology internationally.'
John E Johannessen at Nysnø Climate Investments, said 'We are very excited to support the talented 44.01 team and to join a strong investor consortium. Norway has long been a frontrunner in carbon capture and storage, and we are now looking forward to seeing 44.01's solution for permanent CO2 removal through mineralisation being adopted and scaled in Norway as well as internationally, making significant impact in reducing climate gas emissions to the atmosphere.'
44.01 won the Earthshot Prize in 2022 and the company's Project Hajar in the UAE was named an XPRIZE Carbon Removal Top 20 Finalist.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
4 hours ago
- Zawya
Yango Tech to let businesses boost their products in AI chatbots with genAI platform
Dubai, UAE – Yango Tech, the unified ecosystem delivering tailored advanced B2B technology solutions to local businesses within Yango Group, has announced the upcoming launch of its GenAI Platform —a first-of-its-kind system in the MENA region designed to help retailers and brands gain top visibility and engage with customers across AI chatbots such as Claude, ChatGPT, and Perplexity. The GenAI Platform will allow retailers to list and promote their products directly within AI-powered chat interfaces, turning everyday conversations into high-intent shopping experiences. For example, when customers search for queries like 'Best sneakers under $200' or 'Where to buy new hairstyler', retailers using the GenAI Platform can appear as the top result, providing real-time pricing and availability. Initial rollouts of the GenAI Platform are set to begin with select retailers in the MENA region by the end of 2025. One of the key benefits for retailers is improved discoverability. Rather than depending exclusively on web or app traffic, businesses can now be featured prominently within AI chat results, aligning their offerings with high-intent product searches and increasing the likelihood of conversion. For example, a regional e-grocery retailer using Yango Tech's GenAI Platform can ensure their freshest produce is highlighted first when a customer queries meal planning options on Perplexity. Max Avtukhov, Chief Executive of Yango Tech Retail, said: "With AI-driven neuro platforms becoming a dominant new channel for everyday search, Yango Tech's GenAI Platform marks a bold step forward. Today's consumers are turning to AI chat tools for everything from travel advice to tailored product suggestions, ushering in a new era of seamless personalized shopping experiences. It's a massive shift—from desktop to mobile browser search, and now to intelligent conversational platforms. We understand what it takes to win in this space first. This shift is an entirely new commerce environment, and with our GenAI Platform, we will give retailers the infrastructure they need to not only show up but to win in this space first.' At the core of the platform is Yango Tech's MCP Router, a system that acts as a central translator and traffic manager. It collects product-related queries from different AI platforms, routes them to the merchant's content systems (known as MCPs), and delivers ranked results back to the user in real-time. The result is a new channel for conversational commerce, where customer engagement meets immediate transaction potential. The launch of the platform comes at a time of massive regional momentum. AI is projected to contribute up to $150 billion to GCC economies and the conversational AI market is projected to exhibit a growth rate of 23.6% by 2033 in the region, while MENA's retail sector is expected to grow to $1.4 trillion by 2032. The GenAI Platform also ensures multi-interface support, allowing brands to scale effortlessly across millions of daily interactions while maintaining low response times and consistent messaging. This scalability is essential as 40% of the time, 80% of users rely on AI when searching online. Following the MENA rollout, Yango Tech plans to expand the GenAI Platform to Latin America and other markets throughout 2026, supporting global retailers in capturing attention and revenue across the AI frontier. About Yango Tech Yango Tech, a part of the global tech company Yango Group, is a unified ecosystem delivering advanced B2B technology solutions tailored to meet the diverse needs of modern businesses. The company offers an integrated suite of tools, spanning warehousing, mobility, retail, and beyond, designed to help businesses streamline operations, enhance customer experiences, and drive sustainable growth. The ecosystem includes AI technology solutions for retailers Yango Tech Retail, last mile delivery Yango Tech Autonomy, AI-powered automation solution for warehouses Yango Tech Robotics, advertising solutions Retail Media, last-mile delivery management solution RouteQ, cloud platform Yango Tech Cloud, corporate browser for organizations Yango Tech Browser, and database YangoDB. By leveraging cutting-edge AI-powered innovations, Yango Tech empowers companies to stay competitive and thrive in an increasingly digital world.
Al Etihad
6 hours ago
- Al Etihad
Wall Street futures subdued ahead of US-China trade talks
9 June 2025 14:45 (Reuters)US stock index futures were subdued on Monday as investors looked ahead to talks between the United States and China aimed at mending a trade rift that has rattled financial markets for much of the officials from both countries will meet in London to address disagreements around a preliminary agreement struck last month in Geneva that had briefly cooled tensions between the world's largest second-round of meetings comes four days after US President Donald Trump and Chinese leader Xi Jinping spoke by phone, their first direct interaction since Trump's January 20 inauguration. The leaders had, however, left key issues unresolved for future benchmark S&P 500 closed above 6,000 on Friday for the first time since February 21, following a better-than-expected jobs report and a rebound in Tesla's of more trade deals between the US and its major trading partners, along with upbeat earnings and tame inflation data, helped US equities rally in May, with the S&P 500 and the tech-heavy Nasdaq notching their best monthly gains since November S&P 500 remains a little over 2% below all-time highs touched in February, while the Nasdaq is about 3% below its record peaks reached in joined major brokerages in raising its year-end target for the S&P 500, citing renewed optimism in corporate earnings resilience and the accelerating momentum of artificial intelligence-driven growth. It sees the benchmark ending the year at 6,300, compare with 5,800 forecast data releases this week include readings on May consumer prices and initial jobless claims. While investors widely expect the Federal Reserve to keep interest rates unchanged next week, focus will be on any signs of pick-up in inflation as Trump's tariffs risk raising price currently expect nearly two rate cuts by the end of this year, with the first cut seen in September, according to data compiled by 05:56 am ET, Dow E-minis were up 27 points, or 0.06%, S&P 500 E-minis were up 4.5 points, or 0.07%, and Nasdaq 100 E-minis were down 7.5 points, or 0.03%. Most megacap and growth stocks were mixed in premarket trading. Tesla shares fell 2.5% after a report said Baird downgraded the stock to "neutral" from "outperform".
Gulf Business
8 hours ago
- Gulf Business
Massive AI Surge: UAE's GenAI growth hits 344%, leading the region
Image credit: Getty Images The UAE has recorded a 344 per cent year-over-year increase in Generative AI (GenAI) enrollments, significantly outpacing the MENA regional average of 128 per cent and the global average of 195 per cent. The findings are based on the Global Skills Report 2025 from Coursera, a leading online learning platform with over 170 million users worldwide. Read- The report highlights the UAE's growing emphasis on future-ready talent, with 87 per cent of employers in the country prioritising technology literacy, AI, and big data skills. The country continues to lead the region in digital upskilling, with 13 per cent of the labor force actively engaging in online learning. Workforce transformation driven by AI Professional certificate enrollments rose by 41 per cent, including a 14 per cent increase in cybersecurity courses—demonstrating rising demand for job-relevant, tech-focused credentials. The report analyses skill trends and learner behavior across more than 100 countries. The sharp increase in GenAI enrollments reflects the UAE's broader strategy to cultivate a knowledge-based economy powered by Emirati talent, aligning with the national 'We the UAE 2031' vision. UAE ranks first in Arab world on AI Maturity Index A new feature in this year's study is the AI Maturity Index, which evaluates national readiness for AI by combining learner engagement data with indicators from the International Monetary Fund (IMF) and the OECD. The UAE ranks first in the Arab world and 32nd globally out of 109 countries. This ranking is supported by national initiatives such as the planned 5GW AI Campus and the integration of AI into public school curricula. These efforts align with the UAE's National Artificial Intelligence Strategy 2031, which aims to make AI a key contributor to over 20 per cent of the non-oil GDP by that year. 'The UAE is rapidly scaling AI learning and infrastructure to drive workforce transformation and regional innovation. Its strong performance on the AI Maturity Index, combined with high rankings in overall skills proficiency, demonstrates the country's growing ability to close skill gaps, nurture future talent, and lead in AI readiness,' Kais Zribi, General Manager for the Middle East and Africa at Coursera, said. Key challenges: Gender gap and skills shortage remain Despite the UAE's progress, challenges persist. The country ranks 38th globally in overall skills proficiency across business, technology, and data science, though it leads the Arab world. Notably, the UAE shows high proficiency in business skills (85 per cent), moderate strength in data science (59 per cent), and room for improvement in technology (52 per cent). Among the 10.8 million learners in the MENA region, 1.3 million are based in the UAE, with a median age of 36. Mobile learning continues to grow, with 41 per cent of users accessing content via mobile devices. However, 72 per cent of UAE employers still cite skills gaps as a major barrier—above the global average. Increasing women's participation in emerging tech fields remains critical. Women currently make up 32 per cent of online learners in the UAE, with just 24 per cent enrolled in STEM courses and 21 per cent in GenAI, highlighting a significant opportunity for more inclusive growth.
