Oman Investment Authority invests in Our Next Energy

Oman Investment Authority invests in Our Next Energy

Muscat: Oman Investment Authority (OIA) announced its investment in the US-based company 'Our Next Energy (ONE),' which specialises in innovative battery technology for Electric Vehicles (EVs) and energy storage. This step comes in continuation of OIA's efforts to diversify its international investment portfolio and achieve optimal benefit for Oman in terms of return on investment and sustainable investments that align with Oman's commitment to net zero emissions by 2050. As part of the investment, OIA and ONE signed a Strategic Collaboration Agreement (SCA) to explore potential areas of collaboration in energy storage and battery manufacturing in Oman. "OIA is proud to be part of this pioneering technology and vision, which aligns with its strategy to focus on sustainable energy and is compatible with national strategies and commitments such as Oman Vision 2040 and the net zero emissions goal by 2050," said Ibrahim Al Eisari, Director of Private Equity at OIA. "Electric vehicles are the future, and we are making sure to be a player in the transformation to ensure the growth and sustainability of the electric vehicles' market as an environmentally responsible investor," he added. "Having the support from investors like Oman Investment Authority will accelerate ONE's progress towards a