Latest news with #Esyasoft
Iraq Business
20 hours ago
- Business
- Iraq Business
Esyasoft, ZK Holding sign MoU on Iraq Energy
By John Lee. Esyasoft Holding has signed a Memorandum of Understanding (MoU) with Abu Dhabi-based investment company ZK Holding Group, with the aim of "transforming Iraq into a regional hub for sustainable energy through cutting-edge innovation and cross-border collaboration." The agreement was signed by Abdul Karim Sawan, Vice President of International Business at Esyasoft, and Ahmed Muhsin, Chief Commercial Officer of ZK Holding. Key goals of the partnership include: Revolutionising Iraq's energy infrastructure; Innovating in solar energy, AI-powered smart grids, and energy storage; Enhancing technical capabilities and attracting sustainable investments and stimulate long-term economic growth. The partners aim to position Iraq as a regional hub for clean energy and innovation through strategic collaboration and technology deployment. (Source: Esyasoft)
Iraqi News
29-05-2025
- Business
- Iraqi News
Iraq to use artificial intelligence to develop energy infrastructure
Baghdad ( – Iraq continues to boost its energy infrastructure through deals with multinational corporations as part of the government's efforts to develop the energy sector's capabilities, which will later provide significant returns supporting the country's economy. Baghdad inked a deal on Wednesday with the top Emirati investment organization, Ziad Khalaf Holding Group, headquartered in Abu Dhabi, according to a statement cited by the Iraqi News Agency (INA). Iraq intends to strengthen and grow its energy industry through the deal inked between the holding group and Esyasoft, a subsidiary of the International Holding Company (IHC) that specializes in smart technologies and energy driven by artificial intelligence. The agreement aims to enhance the energy sector's infrastructure by exploring partnership opportunities in innovative and sustainable projects. The group's chairman, Ziad Khalaf, described the new agreement as an essential strategic move toward developing the energy industry, notably in Baghdad, through the group's sister firms. Khalaf reaffirmed his company's commitment to helping Iraq achieve its goal of becoming a more sustainable and innovative economy. Khalaf noted that Baghdad is steadily progressing toward comprehensive economic growth and increasing its capacities to the point where it can attract more foreign investment and contribute to a brighter future. The new partnership aims to combine the group's expertise with Esyasoft's advanced technology to improve Iraq's energy infrastructure. The agreement also intends to improve technical capabilities and promote long-term economic growth by attracting investment and creating new employment opportunities. It will also create the groundwork for transforming the country's energy infrastructure through new solar energy solutions. The deal also involves the development of smart grid and energy storage solutions based on artificial intelligence and innovative technologies to accelerate the country's sustainable energy transformation, accelerating economic development and transforming Baghdad into a major sustainable energy hub.
The Guardian
27-01-2025
- Business
- The Guardian
Good Energy agrees near-£100m takeover by UAE-linked firm
A British green electricity supplier, Good Energy, has agreed a near-£100m takeover by a company controlled by a member of Abu Dhabi's ruling family. The retail energy company said on Monday that it had agreed a deal with the Dubai-headquartered Esyasoft for a cash offer of £4.90 a share, valuing it at £99.4m. The share price of Good Energy, listed on London's junior Alternative Investment Market, rose by a fifth on Monday morning to £4.75. The offer was two-thirds higher than Good Energy's share price on the day before Esyasoft's interest was first revealed in October. Good Energy serves about 245,000 customers in the UK, providing 100% renewable electricity as well as specialising in letting users sell solar power back to the grid. It also installs solar panels and heat pumps. Esyasoft is ultimately controlled by the Abu Dhabi International Holding Company (IHC), the investment company chaired by Sheikh Tahnoun bin Zayed al-Nahyan, the son of the United Arab Emirates' founder, and part of the Abu Dhabi ruling family. IHC owns companies involved in oil and gas drilling, including servicing the huge growth of the US shale gas industry. However, IHC also counts solar power among its investments, and Esyasoft focuses on power distribution technology. The takeover would give a windfall to the energy entrepreneurand Labour donor Dale Vince, whose holding company Green Britain Group is the largest shareholder in Good Energy, with a 26% stake. Good Energy was co-founded in 1999 by Martin Edwards and Juliet Davenport, who left the company in 2021 and offered her backing for the deal. The investment would give the 'opportunity to scale the Good Energy propositions' and 'make a real difference to climate change', she said. Edwards has a 7.3% stake in the business, while Davenport holds 2.7% of the shares, according to Reuters. 'I founded Good Energy 25 years ago to be a pioneer in the provision of clean power to all customers in the UK,' she said. 'The energy industry back then was very different, founded around fossil fuels and designed to be a centralised system.' Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Esyasoft said that it will spend six months working out a long-term strategy for the company, but that 'Good Energy Group would continue to operate in materially the same way without significant disruption to its business or operations'. However, it also said it wanted to expand Good's solar installation and maintenance business, sell its services internationally, and try to make the electric car charger app Zapmap profitable. Nigel Pocklington, who took over as chief executive from Davenport, said the deal would provide a 'partner that shares our sustainable energy vision and has the resources to accelerate our purpose substantially', including by operating in new markets in which Esyasoft already works.
The Independent
27-01-2025
- Business
- The Independent
Good Energy agrees £99.4m takeover by Dubai's Esyasoft
Good Energy has agreed to a sweetened £99.4 million takeover by a company with links to the United Arab Emirates' royals. Dubai-based Esyasoft will pay 490p a share for Good Energy after upping its bid, which comes after the deadline for a firm offer was extended three times. Esyasoft first told bosses at Good Energy that it was weighing up a 412p-a-share offer in late October. Good Energy – which is based in Chippenham, Wiltshire, and supplies electricity to UK homes and businesses – described the approach at the time as an 'unsolicited' advance which did not reflect the future growth opportunities of the firm. But on announcing the agreed takeover it said it is 'a good deal which will ramp up the company's renewable purpose'. Today we have an opportunity with a partner that shares our sustainable energy vision and has the resources to accelerate our purpose substantially Good Energy chief executive Nigel Pocklington Chief executive Nigel Pocklington said: 'Today we have an opportunity with a partner that shares our sustainable energy vision and has the resources to accelerate our purpose substantially. 'Whilst the board remains confident in Good Energy's strategic delivery as a publicly listed company, Esyasoft's financial resources, in addition to its presence in new markets, present a significant increase in our potential.' Juliet Davenport, founder and former chief executive of Good Energy, said: 'I founded Good Energy 25 years ago to be a pioneer in the provision of clean power to all customers in the UK. 'The energy industry back then was very different, founded around fossil fuels and designed to be a centralised system. 'This new investor for Good Energy offers an opportunity to scale the Good Energy propositions leading the decentralised and flexible clean power offering for the prosumers of the future to make a real difference to climate change.' Esyasoft describes itself as a leader in 'smart grid' technology. It says it uses artificial intelligence and other data-based technology to modernise the power grid. Previous stock exchange filings indicate it is controlled by the Abu Dhabi International Holding Company (IHC). The Abu Dhabi IHC's chairman is Sheikh Tahnoun bin Zayed Al Nahyan, the son of the UAE's founder and part of the Abu Dhabi ruling dynasty. We have a strong track record of supporting businesses involved in critical energy infrastructure and climate technologies, and therefore our portfolio of services is highly complementary to Good Energy's Bipin Chandra, Esyasoft Holding Ltd Good Energy was incorporated under its current name in 2003, and now has about 275,000 customers across the UK. It is not one of the so-called Big Six major power suppliers, but directors were included in industry-wide talks with Labour's energy consumers minister, Miatta Fahnbulleh, at the end of August about how firms can support bill-payers. Bipin Chandra, chief executive and founder of Esyasoft Holding Ltd, said: 'We have a strong track record of supporting businesses involved in critical energy infrastructure and climate technologies, and therefore our portfolio of services is highly complementary to Good Energy's. 'We believe that, through our strategic partnership, we can support Good Energy in accelerating delivery of its purpose and growth ambitions by realising the extensive opportunities that exist for this business both in the UK and internationally.'
