
Emirates Gas signs MoU with UAQ Free Trade Zone Authority to deliver comprehensive gas solutions
The MOU was signed in the presence of Sheikh Mansoor Bin Ibrahim Al Mu'alla, Executive Director of Ports, Customs and Free Zone Corporation – Umm Al Quwain, Hussain Sultan Lootah, Acting Group CEO at ENOC, at the ENOC Group Headquarters by Nader Al Fardan, General Manager of Emirates Gas, and Johnson M. George, General Manager, Umm Al Quwain Free Trade Zone.
Under the terms of the agreement, Emirates Gas LLC will deliver customised gas solutions including centralised gas systems, tank installations, product supply in both bulk and cylinders, as well as technical and consultancy services. Each solution will be tailored based on internal evaluations covering technical and financial feasibility, along with thorough safety assessments.
The agreement establishes a framework for both organisations to work collaboratively in meeting the gas requirements of businesses operating within the free zone. It aims to serve as a model for potential collaborations with other free zones, industrial areas, and similar entities across the UAE, showcasing the value of exclusive gas supply agreements.
Hussain Sultan Lootah, Acting CEO of ENOC Group said: 'We are pleased to collaborate with the Umm Al Quwain Free Trade Zone Authority to expand our offerings to better serve customers in the free zone. By providing comprehensive gas solutions exclusively to businesses within the free zone, we are catering to their needs and reaffirming our commitment to delivering reliable energy solutions in the Emirate. Additionally, this partnership aligns with our strategic objectives, adding value to both entities while further supporting the country's economic development.'
Johnson M. George, General Manager, UAQ Free Zone Authority, commented: 'At UAQ Free Trade Zone, our priority has always been to empower our investors with the right infrastructure, the right partners, and the confidence to grow. This partnership with Emirates Gas, an industry leader known for safety, reliability, and professional excellence, is a strategic move to ensure our businesses have access to world-class solutions."
Emirates Gas LLC continues to innovate in response to the region's growing energy demands and sustainability goals. The company's commitment to innovation is demonstrated through products like its LPG Composite Cylinders, which feature advanced composite materials, lighter weight, and enhanced safety features with a translucent design for easy monitoring. This innovative approach, complemented by ongoing partnerships, reinforces Emirates Gas' position as a leading energy solutions provider in the UAE.
About ENOC Group:
ENOC Group is a leading integrated global energy player and a wholly owned entity of the Government of Dubai that is integral to the Emirate's success. ENOC owns and operates assets in the fields of exploration & production, supply & operations, terminals, fuel retail, aviation fuel and petroleum products for commercial & industrial use. The Group's general business operations include automotive services, non-fuel F&B retail and fabrication services. Servicing thousands of customers in over 60 markets, the Group employs a multi-national workforce of over 12,500 employees and is deploying its world-class customer service, latest innovations, and technologies as well as best practices to empower the UAE's social and economic development. For further information, please visit: www.enoc.com.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Gulf Business
29 minutes ago
- Gulf Business
IHC rebrands eFunder as Zelo following acquisition
Image: IHC/ X International Holding Company ( The platform has also been rebranded as Zelo, signalling a new chapter for the company. Fully licensed and regulated by ADGM's Financial Services Regulatory Authority (FSRA), Zelo has been operating since August 2020, delivering receivables-based funding to address the region's SME working capital gap. It provides fast, digital-first access to liquidity by converting approved invoices into working capital within 24 to 48 hours. Following the acquisition by IHC, Zelo now enters a new chapter as part of the The platform addresses one of the region's most pressing challenges: a nearly$250bn SME credit gap across the Middle East and North Africa. While SMEs account for over 95 per cent of the UAE's registered businesses and generate more than half of national GDP, many face delays of 60 to 120 days in receiving payment for approved invoices, restricting growth and operational agility. Zelo bridges this gap by offering a seamless, technology-driven platform for invoice financing across priority industries, including construction, logistics, healthcare, industrial services, and oil and gas. IHC aims to build smart, scalable solutions and value networks that deliver impact Syed Basar Shueb, CEO of IHC, said: 'SMEs are the backbone of a diversified and future-ready economy. Through our strategic acquisition of Zelo, we are proud to support a platform that solves one of the most fundamental barriers facing SMEs, access to timely working capital. 'This rebrand signals a confident new chapter, one that is fully aligned with IHC's long-term vision of building smart, scalable solutions and dynamic value networks that deliver real and lasting economic impact.' Dhanush Arjun, CEO of Zelo, said: 'Zelo exists to eliminate the wait. The wait for payments, the wait for growth, the wait for opportunity. Our rebrand signals not just a new name, but a renewed commitment to SMEs in the UAE who deserve faster, smarter access to capital. With IHC's strategic backing, we're accelerating that future.' Zelo has deployed more than $200m in funding Zelo's platform is purpose-built for speed and simplicity, offering a fully digital onboarding experience, automated funding decisions, and near-instant access to capital, eliminating cash flow delays and accelerating reinvestment into growth. The platform also scales financing limits in line with business performance, creating a responsive and frictionless funding experience. Zelo's operations continue to be led by the co-founders of eFunder – Dhanush Arjun (CEO) and Deepak Sekar (COO), supported by a seasoned group of professionals with deep expertise in fintech, SME lending, and digital infrastructure. To date, the platform has facilitated over 9,000 transactions and deployed more than $200m in funding, a testament to its impact and scalability within the region's SME ecosystem.


The National
43 minutes ago
- The National
Energy and Innovation summit: Trump says $92bn to be invested in Pennsylvania for AI and tech
US President Donald Trump pushed his vision on powering energy-hungry artificial intelligence, during the first Pennsylvania Energy and Innovation Summit. At a discussion on Tuesday, Mr Trump claimed that more than 20 technology and energy companies had decided to invest $92 billion in Pennsylvania. "This is really a triumphant day for the people of the Commonwealth," he told the event, led by Republican US Senator Dave McCormick, in Pittsburgh at Carnegie Mellon University. 'This summit is about catalysing $90 billion of investment and tens of thousands of jobs in Pennsylvania,' Mr McCormick said. He also referred to the increasingly adversarial relationship between the US and China as he set the stage for the day's agenda. 'If we don't lead this AI revolution on our own terms, we will hand control of our infrastructure, data, leadership and way of life to the Chinese Communist Party,' Mr McCormick said. With AI continuing to expand into all aspects of life, the burden it places on the US energy grid is becoming more of an issue, as policymakers try to keep America leading the global race for AI dominance. According to a report from the US Energy Department, data centres used about 4.4 per cent of total electricity in the country in 2024. By 2028, that share could increase to 12 per cent. By most estimates, a query to ChatGPT uses 10 times more energy than a similar search on Google. The event has featured panels and discussions on energy and AI, including how to best meet the energy needs created by the technology, and looking at the efficiencies that AI could create in the years ahead. There were also discussions about the need for data centres to keep up with the AI investment boom and increased user demand. During the opening panel discussion, alternative asset management firm Blackstone made a $25 billion investment in building data centres in Pennsylvania. Investors, entrepreneurs and business leaders from around the world are attending the event. Khaldoon Al Mubarak, Mubadala's managing director and chief executive and chairman of the UAE Executive Affairs Authority, made the trip to Pittsburgh. Lim Chow Kiat, chief executive of Singapore's Government Investment Corporation, was also invited. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, Interior Secretary Doug Burgum and Energy Secretary Chris Wright were among the White House officials in attendance. Alex Karp, chief executive of AI firm Palantir, Joseph Dominguez, Constellation Energy chief, and Jake Loosararian, founder of Gecko Robotics, also took part. As proof of how bipartisan AI and energy issues have become, Pennsylvania's Democratic Governor Josh Shapiro, a staunch critic of Mr Trump and a possible contender for the 2028 Democratic presidential race, is scheduled to attend. For coal, fracking and even nuclear power, Pennsylvania has become the centre of the US energy renaissance. A few weeks ago, Mr Shapiro attended a nuclear energy rally to celebrate a partnership with Microsoft at the Three Mile Island nuclear power plant in the state, which will soon reopen under a different name. Nuclear energy is seen by many supporters of AI as a way to strengthen the energy grid as use of the technology expands. But critics fear the content of the event will be taken over by politics. A day before the event, Carnegie Mellon University's president, Farnam Jahanian, acknowledged the politically charged backdrop against which the conference was taking place. 'I recognise that CMU's decision to host the summit has prompted concern and disagreement among some members of our community,' Mr Jahanian said, pointing out his disagreements with Mr Trump on issues concerning education funding. 'At the same time, I firmly believe that higher education must be a convener – a catalyst for ideas and partnerships that shape our future.' On Tuesday, Mr Jahanian said CMU, with its roots in technology, was the perfect host for the summit, which was a 'defining moment for our country and humanity'. He said AI was 'the most important intellectual development of our time'.


Zawya
an hour ago
- Zawya
IHC aompletes acquisition of eFunder and rebrands the platform as Zelo
IHC rebrands eFunder as Zelo following acquisition. Zelo, the UAE's premier invoice financing platform, targets one of the region's biggest financing gaps — a USD 250 billion SME credit shortfall across MENA. The strategic rebrand of Zelo reinforces IHC's commitment to fintech innovation and advancing SME enablement. Abu Dhabi, United Arab Emirates: IHC, a global investment company focused on building dynamic value networks, today announced that it has completed the acquisition of eFunder, the UAE's pioneering private financing platform for small and medium-sized enterprises (SMEs). The platform has now been rebranded as Zelo, marking a new chapter in its evolution, aimed at scaling its impact and expanding access to capital for the region's most dynamic businesses. Fully licensed and regulated by ADGM's Financial Services Regulatory Authority (FSRA), Zelo has been operating since August 2020, delivering receivables-based funding to address the region's SME working capital gap. Zelo provides fast, digital-first access to liquidity by converting approved invoices into working capital within 24 to 48 hours. Following the acquisition by IHC, Zelo now enters a new chapter as part of IHC's broader commitment to enabling future-ready economies through responsible investment and fintech innovation. The platform addresses one of the region's most pressing challenges: a nearly USD 250 billion SME credit gap across the Middle East and North Africa. While SMEs account for over 95% of the UAE's registered businesses and generate more than half of national GDP, many face delays of 60 to 120 days in receiving payment for approved invoices restricting growth and operational agility. Zelo bridges this gap by offering a seamless, technology-driven platform for invoice financing across priority industries, including construction, logistics, healthcare, industrial services, and oil & gas. Syed Basar Shueb, CEO of IHC, said: 'SMEs are the backbone of a diversified and future-ready economy. Through our strategic acquisition of Zelo, we are proud to support a platform that solves one of the most fundamental barriers facing SMEs, access to timely working capital. This rebrand signals a confident new chapter, one that is fully aligned with IHC's long-term vision of building smart, scalable solutions and dynamic value networks that deliver real and lasting economic impact.' Dhanush Arjun, CEO of Zelo, noted: 'Zelo exists to eliminate the wait. The wait for payments, the wait for growth, the wait for opportunity. Our rebrand signals not just a new name, but a renewed commitment to SMEs in the UAE who deserve faster, smarter access to capital. With IHC's strategic backing, we're accelerating that future.' Zelo's platform is purpose-built for speed and simplicity, offering a fully digital onboarding experience, automated funding decisions, and near-instant access to capital, eliminating cash flow delays and accelerating reinvestment into growth. The platform also scales financing limits in line with business performance, creating a responsive and frictionless funding experience. Zelo's operations continue to be led by the co-founders of eFunder – Dhanush Arjun (CEO) and Deepak Sekar (COO), supported by a seasoned group of professionals with deep expertise in fintech, SME lending, and digital infrastructure. To date, the platform has facilitated over 9,000 transactions and deployed more than USD 200 million in funding, a testament to its impact and scalability within the region's SME ecosystem. About Zelo Zelo (formerly eFunder) is a private financing platform operating under ADGM FSRA regulations. The platform specializes in fast, flexible, and fully digital invoice financing and revenue-based financing for SMEs. Zelo has funded over 9,000 transactions and supported businesses with over USD 200 million in capital deployed, empowering growth across the UAE's most vital sectors. About IHC Established in 1999, IHC has become the most valuable holding company in the Middle East and one of the world's largest investment firms, with a market capitalization of AED 879.6 billion (USD 239.3 billion). Since then, it has transformed to represent a new generation of investors. IHC's commitment to sustainability, innovation, and economic diversification spans over 1,300 subsidiaries, driving growth across industries like Asset Management, Healthcare, Real Estate, Financial Services, IT, and more. IHC continually looks beyond the stand-alone value of its assets for opportunities, stepping outside of traditional approaches and artificial barriers to unlock opportunities across its portfolio, enabling sector-agnostic Dynamic Value Networks and creating results that are often much greater than the sum of their parts. At IHC, we take our responsibility to shareholders, customers, and employees seriously. Our commitment to responsible investment ensures that we create sustainable value by staying connected to the communities we serve, making a positive difference with every investment. Media Contacts Simon Hailes Managing Director, Head of Edelman Smithfield Middle East IHC@