GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Banking and Investments

 
  Share

Disbursement to unlock growth opportunities and expansion across the region, aligned with UAE National Innovation Strategy 

Dubai, 02 October 2018 –   The Mohammed bin Rashid Innovation Fund (MBRIF), operated by the Emirates Development Bank (EDB), today announced a disbursement of AED 5.5 million to UAE headquartered Pure Harvest. 

A regional innovator in sustainable agriculture, Pure Harvest aims to address food security issues and water scarcity in the UAE while achieving resource efficiency and overcoming local climate challenges. Founded in October 2016, the Abu Dhabi based agricultural start-up is focused on the production of greenhouse fruits and vegetables in arid climates using world-leading Dutch hydroponics and climate management technologies. The current fund from MBRIF will be deployed towards construction and pre-production of Pure Harvest's foundational, high-tech greenhouse in Nahel, UAE.

“We are pleased to support Pure Harvest. Producing fresh quality food using breakthrough technology, the business today is playing a critical role in advancing the UAE's food security ambitions. As the Mohammed bin Rashid Innovation Fund portfolio continues to grow, we proactively look to engage with entrepreneurs who are pushing the limits of innovation to bring unique solutions to today's problems. We look forward to working closely with the team at Pure Harvest to help accelerate their growth here in the UAE and around the region, addressing food security issues,” said Haytham Kamhiyah, Chief Executive Officer, Emirates Development Bank. In line with the UAE National Innovation Strategy, the Mohammed bin Rashid Innovation Fund (MBRIF) explores funding in innovative businesses in the fields of renewable energy, transportation, education, health, water, technology and space. 

Pure Harvest's tech-enabled approach to arid climate agriculture is expected to create a positive shift in the agriculture industry in the region, by enabling fresh fruit and vegetable production all year-round, using advanced, resource-efficient growing methods and climate management technologies. 

“Pure Harvest was launched with an ambition to offer true & tangible food security, helping the country's mission toward self-sufficiency and environmental sustainability. We invest in world-leading controlled-environment agriculture technologies to deliver consumers the absolute best quality produce. As a UAE-based business, we are honored to be supported by MBRIF and this strategic disbursement is instrumental in building our foundational high-tech greenhouse project, which will ultimately unlock future growth opportunities for us,” said Sky Kurtz, Cofounder and CEO of Pure Harvest. 

The Mohammed bin Rashid Innovation Fund (MBRIF) was founded to financially support entrepreneurs and SME's with unique and innovative ideas who can drive the success of the UAE through contributing to the prosperity and sustainability of the country. Applicants must be residents of the UAE, or alternatively have their company registered in the UAE. 

MBRIF is actively pursuing investment opportunities in fast-growing UAE SME's that have the potential to deliver a large-scale impact that is consistent with its visionary mandate.



Posted by : GoDubai Editorial Team
Viewed 7863 times
Posted on : Tuesday, October 2, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : New Worker's Insurance Scheme Forthcoming
Next Story : A flying economy – the economic powerhouse above the clouds
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
The Rado HyperChrome Ultra Light
Chronoswiss Shows Off Twin Limited Edition Flying Grand Regulators
212 VIP Extra Limited Edition
Innovative, Adventurous and Accurate. It's what pilots need in a timepiece. And ...
The Valentine watch collection by Coach
NuFACE launches in Bloomingdales and Harvey Nichols!
Lenovo announces Lenovo Truscale™ Infrastructure Services – a consumption-based,...
Chrono 4 Grande Taille Limited Edition - another classy reiteration of an iconic...
The Fall 2019 Michael Kors Collection Runway Show
Turkish Airlines introduces its new The LEGO® Movie 2 Inflight Safety Video, bef...
SPRING 2019: MEET ‘CECE'
Lacoste Presents. 12. 12 Collection
Create a Valentine's meal to remember with LG
Airbus and Emirates reach agreement on A380 fleet, sign new widebody orders
UAE supermarket chain Al Maya group to launch products from Woolworths Australia
Valentines Day Gift Guide from Anker
Is the runway ready for HONOR View20 Moschino edition - the season's most covete...
Jaguar Land Rover expands Ingenium family with straight six-cylinder petrol engine
Abu Dhabi University and Knowledge Group to participate in IDEX 2019
Okadoc helps UAE patients find a doctor and book an appointment online instantly
Customs World develops RIISE: first of its kind leading-edge Customs platform
Bentley launches World's fastest, most luxurious SUV
Zayed University inaugurates largest Bloomberg Finance Lab in the Middle East
Kasih Food Production Co. reveals its latest food innovation, Mezete, at Gulfood 2019
39 days shopping extravaganza brought grand success to 13 participating malls
Mushrif Mall celebrates with Talentology 2019 Winners
H.E. Minister Buhumaid leads Dubai Cares' Walk for Education alongside 15,000 pa...
The Retail Summit officially opens
IKEA's TILLTALANDE Collection - Made in collaboration with Jordanian and refugee...
DAFZA to showcase its premium services to the F&B Industry at Gulfood
A Celebration of Italian Chefs, Producers and Ingredients all Week at Gulfood
Emirates Foundation's Think Science Fair 2019 Kicks-off with 1850 finalists nati...
What's New This Month at The Edit
Celebrate Valentine's Day with IKEA
Airbus to participate in the International Defence Exhibition and Conference (ID...
Ajman Free Zone announces official commitment to culture of innovation at “Digit...
Ethihad Airways to Deploy Latest Generation 787 Dreamliners on all its Flights t...
Western Furniture shares the best 2019 interior design tips to give it a go
NYU Abu Dhabi senior admitted to the Luce Scholars Program
Etihad ESCO announces completion of Hatta Solar retrofit project
Explore the art of bespoke suits with Kachins
Rado True Thinline Gem: Inma Bermudez for Rado
Smart Grids could save GCC Billions in infrastructure investment by 2020, says M...
How safe is your heart this Valentine's day?
Furniture brand, helmii, embraces Clean Sleeping as we approach Sleep Awareness ...
Emirates Post reminds customers to renew their P.O. Box subscriptions before 28 ...
Team UAE Set Sights on Nations Cup Qualification at Five Star President of UAE S...
DC Aviation Group completes major maintenance check on Challenger 850 aircraft
Aime and MRO Middle East end on the up
Indulge Your Love for Animal Print with M&S