07.02.19
On June 30, 2019, ARMOR and Masar Printing and Publishing signed a memorandum of understanding on the creation of a future joint venture in Dubaï, United Arab Emirates. This agreement opens up the path for the creation of a joint venture which will be the first company in a position to market flexible organic photovoltaic films in the MENA region.
It represents a step that is fully in keeping with Dubai government policy, encouraging the deployment of renewable energy on a massive scale. The government of Dubai is seeking to achieve installed renewable energy capacity of around 1 gigawatt per year, the equivalent of one nuclear unit. Furthermore, the Dubai Clean Energy Strategy 2050 calls for 75% of energy consumed in Dubai to be from renewable sources.
The number of sunshine days per year in the region opens up the path for the deployment of solar energy on a massive scale. Due to limited areas in the modern cities, the transparent, ultra-thin and flexible ASCA organic film developed by ARMOR is ideal for covering the facades of the numerous skyscrapers within the Emirate.
The two partners are giving themselves five years to deploy their technology, with a long-term objective of over 500km2 of photovoltaic film sold each year and annual revenue in excess of €100 million. The JV should be up and running by late 2019. Each company will have a 50% stake in the future JV. Masar Publishing and Printing will deploy its expertise in the local market and ARMOR will provide its know-how. The project will benefit from ARMOR’s global production capacity of 1 million m2 of film per year.
It represents a step that is fully in keeping with Dubai government policy, encouraging the deployment of renewable energy on a massive scale. The government of Dubai is seeking to achieve installed renewable energy capacity of around 1 gigawatt per year, the equivalent of one nuclear unit. Furthermore, the Dubai Clean Energy Strategy 2050 calls for 75% of energy consumed in Dubai to be from renewable sources.
The number of sunshine days per year in the region opens up the path for the deployment of solar energy on a massive scale. Due to limited areas in the modern cities, the transparent, ultra-thin and flexible ASCA organic film developed by ARMOR is ideal for covering the facades of the numerous skyscrapers within the Emirate.
The two partners are giving themselves five years to deploy their technology, with a long-term objective of over 500km2 of photovoltaic film sold each year and annual revenue in excess of €100 million. The JV should be up and running by late 2019. Each company will have a 50% stake in the future JV. Masar Publishing and Printing will deploy its expertise in the local market and ARMOR will provide its know-how. The project will benefit from ARMOR’s global production capacity of 1 million m2 of film per year.