UAE-based on-demand refueling and vehicle services company, Cafu, has announced a new venture for on-demand energy systems using innovative battery storage across the UAE.
It has entered into a JV with the region’s largest distributed solar energy company SirajPower, and climate impact investor Creek, to establish the new venture called Hypr.
Hypr is the first-of-its-kind solution in the region that uses transportable lithium-ion batteries providing customers with a reliable and cost-effective alternative to diesel generators.
The battery storage systems used by Hypr will be developed by SirajPower, a Creek portfolio company with over 200 solar sites across the UAE.
The new company will also benefit from Cafu’s on-demand customer-centric approach combined with its routing capabilities and operational expertise in optimising B2B deliveries.
Hypr will use its own balance sheet to invest in the battery modules so customers can be offered a pay-as-you-go model with no up-front capital requirements.
Rashid Al-Ghurair, founder and CEO of CAFU, said,
“Bringing together CAFU, SirajPower and Creek, this venture will bring a new innovative on-demand solution to the market that provides a green and sustainable energy source, thereby committing to meaningful action to help enable a carbon neutral future. In our endeavours to become a fuel agnostic company, it is collaborations such as Hypr that will accelerate a sustainable future to become a reality today,”
Mohammed Abdulghaffar Hussain, chairman of Creek and co-founder of SirajPower, added,
“This joint platform will help improve and address some of the recurring challenges experienced by businesses in the construction and industrial sectors when connection to the grid is not a viable option. SirajPower’s successful Solar-as-a-Service model for decentralised solar projects will be adapted to Hypr’s On-demand Solar Energy Systems. Through the partnership, we are introducing a fully financed energy storage solution using mobile systems to help customers generate savings and reduce their carbon footprint. As an end-to-end solar service provider, we want to support business through their transition to clean energy.”
News Source: Gulf Business