ADIB Wins Four Awards at MEED's MENA Banking Excellence Awards 2025
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CE-Ventures backs $100 million round in US-based Aalo Atomics
UAE-based CE-Ventures, the corporate VC arm of Crescent Enterprises, has joined the $100 million Series B of US-based Aalo Atomics, a next-generation nuclear technology company. The funding will support Aalo's first modular nuclear power plant, aiming for zero-power criticality by July 2026 to supply energy to AI-optimized data centres. The agreement underscores CE-Ventures' ongoing emphasis on cutting-edge technologies, given the projected quadrupling of global electricity demand from AI-driven data centres by 2030. Press release: CE-Ventures, the corporate venture capital platform of Crescent Enterprises, today announced its participation in the $100 million Series B funding round for leading US nuclear technology company Aalo Atomics. Aalo's fundraise was led by Valor Equity Partners with participation from CE-Ventures alongside Fine Structure Ventures, Hitachi Ventures, Crosscut Ventures and others. Aalo has experienced significant momentum since its incorporation in 2022 and was recently selected by the US Department of Energy (DOE) for fast-tracked testing of its advanced nuclear technology. The successful completion of its Series B funding will support Aalo in building its first nuclear power plant for which it is aiming to reach zero-power criticality by July 2026, an important step towards demonstrating how their mass-manufactured modular reactors can provide the most effective solution to powering AI data centres. This process of expedited technology demonstration is set to significantly de-risk and accelerate commercial readiness as the United States looks to advance next-generation nuclear and meet the rising energy demands of the AI era. 'We are at a pivotal moment for advanced nuclear technology, and we view Aalo Atomics as a true leader in this new atomic age,' said Sudarshan Pareek, Senior Vice President at CE-Ventures. 'The surge in AI adoption is driving unprecedented demand for reliable energy, and nuclear power can play a crucial role in meeting this demand with clean, scalable solutions. At CE-Ventures, we take pride in our long-standing track record of investing in pioneering companies. With this latest capital deployment, we are strengthening our position as a global partner of choice for entrepreneurs building frontier technologies.' CE-Ventures has built a diverse global portfolio of strategic investments in early- to late-stage high-growth companies and select venture funds, including long-standing positions in frontier technologies such as AI and its ecosystem infrastructure. Its parent entities, Crescent Enterprises and Crescent Group, have a strong legacy of unlocking impactful capital and championing responsible growth opportunities across technology, energy, and UAE-US infrastructure. Matt Loszak, CEO, Aalo Atomics, commented, 'We are beyond excited to announce Aalo's $100M Series B. We now have the capital to build our first nuclear power plant, the Aalo-X, which we're aiming to turn on *next summer*. This could be the first advanced nuclear power plant to achieve criticality in the US in decades. The Aalo team is extremely grateful to all of our backers for giving us this once-in-a-generation opportunity to help nuclear energy fulfil its potential.' The US Department of Energy's Reactor Pilot Program, for which Aalo Atomics has been selected, was launched in June 2025 to accelerate the testing of advanced nuclear technologies and reflects growing global interest in modular nuclear reactors as a safe, scalable, and sustainable solution to growing energy demand. Aalo is planning to put an experimental data centre next to its test plant to create a first-of-its-kind demonstration of DOE-authorised reactors directly powering AI infrastructure. With the International Energy Agency projecting that global electricity demand from AI-optimised data centres will more than quadruple by 2030, new-generation nuclear technologies are positioning themselves as a clean energy solution to enable positive global growth.
Al Bawaba
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STAMN Unveils Novel Dual-Key Design at Award-Winning Nautis Residences
STAMN Real Estate Developments has launched STAMN Dual Key, an innovative design feature that will first appear on the new Nautis Residences and across selected future projects. The smart dual-key layout will enable investors to enjoy one larger residence or flexibly split the property into two fully private living spaces each with its own dual-key system provides the opportunity to earn additional income, either by letting one side and living in the other, or by renting out both spaces individually, potentially doubling earning potential. STAMN Nautis Residences, which is an award-winning development on Dubai Islands, will incorporate the dual-key layout, which takes inspiration from the interconnecting family rooms offered by hotel CEO Zheng Jian commented, 'The reveal of our Dual Key design resonates with a key principle that we have within the business. We believe that it is our duty to bring prosperity to our investors and communities. Every buyer should gain maximum value and this layout provides a healthy balance of flexibility and financial returns.'The option of dual-key layouts are available across all two-bedroom units and selected three-bedroom apartments at STAMN Nautis Residences, starting from AED 2.13 prices on Dubai Islands have increased by 22 percent year-on-year, as the iconic real estate masterplan comes to fruition. Enhanced infrastructure and connectivity are being established, as the government and private sector deliver on what many are describing as the 'next Palm Jumeirah'. STAMN Nautis Residences is one such project under development, with 63 homes spaced across eight residential floors. The developer aims to enhance physical and mental wellness through its amenities, providing features such as an expansive swimming pool, sundeck and cosy reading nook. Properties range from one-bed apartments to four-bed townhouses, ranging from AED 1.74 million to AED 6.6 million, with 40/60 post-handover payment plans available. The project is set to complete in Q4 2027. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
Al Bawaba
14 hours ago
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NTT DATA Appoints Muhannad Khattab as UAE Country Manager
NTT DATA, a global leader in digital business and IT services, today announced the appointment of Muhannad Khattab as Country Manager for the United Arab Emirates. This strategic appointment underscores NTT DATA's commitment to driving innovation, enhancing customer experience, and accelerating technology advancement across the UAE's public and private appointment comes at a pivotal moment for the UAE, as the country accelerates its journey to become one of the world's most advanced digital economies. With record investments in artificial intelligence, cybersecurity, and cloud initiatives, the UAE is cementing its role as a global hub for next-generation technologies. NTT DATA's decision to appoint a dedicated Country Manager reflects its commitment to deepen its presence, align with the UAE's national agenda, and bring global innovation to local clients at a time when the demand for secure, AI-enabled, and scalable solutions is surging.'We are delighted to welcome Muhannad Khattab to our Middle East leadership team,' said Burcak Soydan, Managing Executive for the Middle East at NTT DATA. 'His deep understanding of the UAE ICT sector, coupled with his proven track record in delivering large-scale technology advancement projects and building high-performance teams, will be a significant asset to our regional growth.'With over 20 years of experience in digital infrastructure, IT sales, cybersecurity, and AI solutions, Muhannad is a seasoned technology executive. Prior to joining NTT DATA, he held senior leadership roles at Gulf Business Machines (GBM), most recently serving as Director of Technology in the UAE. Commenting on his appointment, Muhannad Khattab said, 'I am honored to join NTT DATA at such an exciting time, as we continue to expand our technology and service capabilities in the UAE. I look forward to working closely with our talented team, partners, and clients to drive innovation, deliver impactful results, and align with the UAE's vision to be among the world's most advanced digital economies. The country's ambitious ICT agenda, spanning artificial intelligence, cybersecurity, cloud adoption, and smart city innovation, sets a powerful stage for NTT DATA to contribute meaningfully to its journey, positioning the UAE as a global hub for next-generation technologies and future-ready talent.'
