Will Oman invest in electric vehicle battery start-up 'our next energy'?

Reuters The Oman Investment Authority has invested in US-based electric vehicle battery start-up Our Next Energy (One). Oman’s sovereign wealth fund also signed a strategic co-operation agreement with One to identify potential areas of partnership in energy and battery storage in the sultanate, Oman News Agency reported on Wednesday.

Does Oman have a hydrogen project?

Last year, Oman set up a state-owned company, Hydrogen Oman, to oversee the development of hydrogen projects in the country.

Will Oman reach net-zero emissions by 2050?

The financial value of the transaction was not disclosed. The move, which is consistent with Oman’s strategy to reach net-zero emissions by 2050, will ensure the growth of the electric car market, said Ibrahim Al Eisri, director general of private equity investments at the Oman Investment Authority.

Who is investing in Oman?

The investment round was led by venture capital firm Fifth Wall and Franklin Templeton, according to its website. Oman, the largest non-Opec producer in the Middle East, has been investing heavily in sectors such as renewable energy and tourism in an effort to diversify its economy.

Is Oman the largest non-OPEC producer in the Middle East?

Oman, the largest non-Opec producer in the Middle East, has been investing heavily in sectors such as renewable energy and tourism in an effort to diversify its economy. The sultanate is on track to become one of the largest producers of hydrogen in the world by 2030, the IEA said in a June report.