(26 January 2024, Shenzhen) Templewater is proud to announce the signing of a Memorandum of Understanding ("MOU") with the Integrated Transport Centre Abu Dhabi ("ITC"). The MOU is set to advance the Green Bus Project, a series of initiatives designed to revolutionize the public transportation system in Abu Dhabi with sustainable and eco-friendly solutions.
Under the MOU, Templewater and ITC have committed to a partnership that encompasses joint action and coordination across several strategic areas, with the shared goal of establishing a new benchmark for green public transportation in Mohammed Bin Zayed City and beyond.
The agreed areas of collaboration include:
- Green Electricity Generation: Implementing a state-of-the-art green energy solution at the Mohammed Bin Zayed City Public Transport Depot ("The Green PT Depot"). This entails the installation of solar photovoltaic systems and the integration of battery energy storage systems to ensure a sustainable and reliable power supply for the bus fleet operations.
- Hydrogen Refueling Stations (“HRS”): Developing HRSs with on-site hydrogen production capabilities. These stations will serve as critical infrastructure for the deployment of a new generation of hydrogen fuel cell vehicles.
- Supplying, Operation, and Management of Eco-Friendly Bus Fleet: Supplying a fleet of fuel cell electric vehicles ("FCEV") and battery electric vehicles ("BEV") buses, showcasing a variety of models from the renowned manufacturer, Wisdom Motor, a Templewater portfolio company. This initiative will introduce a wide range of eco-friendly buses tailored to various operational requirements, leveraging Templewater's industry expertise in fleet operation and management.
Dr. Yufeng Wan, Partner and Head of Impact Investing at Templewater, expressed, “Our collaboration with ITC is a landmark move towards cleaner energy and transportation solutions. By focusing on green electricity, clean hydrogen fuel, the latest FCEV and BEV technologies from Wisdom Motor, we are setting a course for a greener future."
His Excellency, Abdullah Al Marzouqi, Director General of ITC, commented, "The Green Bus Project, supported by the expertise of Templewater and our other partners, is an ambitious step forward for Abu Dhabi's public transport system. It's not just an investment in infrastructure but a commitment to our community's health and the global environment."
The Green Bus Project aims to create a model for sustainable transportation that can be replicated across other urban centers. Templewater and ITC are dedicated to seeing this vision come to life, delivering benefits that extend well beyond the immediate scope of the project.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Templewater
Jason Li
Investor Relations
+852 3187 5000
About Templewater Group
Templewater Group (“Templewater”) is an alternative asset management firm headquartered in Hong Kong, founded by Mr. Cliff Zhang and the Investec Group in 2018 as a spin-off of Investec Group’s Principal Investments Division in Asia, continuing the heritage and investment track record of the Investec Group.
Templewater is a solution-based and trusted partner to institutions, entrepreneurs, and family offices, investing in proprietary deals alongside them. Templewater invests across the alternative asset classes in private equity, impact investing and real estate.
For more information, please visit www.templewater.com
About Integrated Transport Centre (ITC)
The Integrated Transport Centre (ITC) is part of the Department of Municipalities and Transport in Abu Dhabi. It is responsible for managing transportation and infrastructure within the Emirate, with a mission to provide high-quality, sustainable, and efficient transportation systems.
For more information, please visit www.itc.gov.ae/
