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Energy tech venture launches in Middle East

AFKAR Ventures, a MENA-based first mover in energy tech, brings together a team of the region’s leaders in energy, engineering, fintech and management

energytech ventureThe team of AFKAR Ventures. (Image source: AFKAR)

The founding team consists of six globally experienced members looking to seed startups as well as invest in established companies in energy and technology. 

AFKAR aims to help shape a sustainable and independent future for the MENA region’s energy tech sector. With a proven track record in innovation and over a century of combined experience in energy and technology, the founding team is made up of Adnan Ghabris (chairman); Maen Razouqi (executive director); Zied Ben Hamad (executive director); Ghassan Mirdad (director); Raja Al Mazrouei (director); Mazin Al Lamki (director). 

Although collectively possessing robust know-how in energy, AFKAR aims to shift the region’s current energy paradigm, enabling unique applications of technologies and innovations, as well as unforeseen manufacturing opportunities. 

“We will promote the creation of fit-for-purpose regional intellectual property,” said Maen Razouqi, AFKAR executive director. 

Raja Al Mazrouei, a leader in FinTech and one of the directors of AFKAR, said, “Innovation in the energy sector is a prominent opportunity in the MENA region; AFKAR will play a major role in enabling the transformation of this sector and identifying ventures that will unlock the full potential of our region.”


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