News

Wisdom Motor Brings First Zero-Emission Bus To GCC

The company is supporting the Abu Dhabi International Transport Centre’s Green Bus Assessment program that forms part of the UAE’s sustainability agenda.

Published

8 months ago

November 30, 2023

Nour Nasir

Wisdom Motor

Wisdom Motor, a Chinese technology company that designs zero-emission commercial vehicles, has announced a cooperation with the Integrated Transport Centre (ITC) in Abu Dhabi.

The partnership aims to provide new green mobility solutions, the first of which, a 12-meter Hydrogen City Bus, uses fuel cells to achieve a range of 500 km, while reducing CO2 by 105 kg per 100 km of travel.

Mr. Cliff Zhang, Chairman of the board of directors of Wisdom Motor, commented: “We are proud to partner with the ITC to bring our cutting-edge technology and customized hydrogen-powered vehicles to Abu Dhabi. This cooperation not only reinforces the quality and competitiveness of Wisdom Motor but is also a significant milestone for our company in entering the GCC market”.

So far, Wisdom Motor’s zero-emission commercial vehicles have achieved several milestones and continue to expand globally. The company builds its highly customizable vehicles at a production hub of over 480,000 sq m in Fujian, China.

Wisdom Motor aims to disrupt the competitive commercial sector with short turnarounds and custom engineering, including state-of-the-art monocoque structures and in-house-made composite materials. So far, the company has won contracts in the UK, Germany, France, the Nordics, Australia, Japan and Korea.

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Near its headquarters in Hong Kong, a fleet of Wisdom Motor tri-axle, hydrogen-powered double-decker buses are already in service, acting as proof-of-concept for long-distance commercial transportation using hydrogen.

Hydrogen offers several advantages over conventional fuels: It is lightweight, nearly three times the energy density of diesel per unit of mass, and produces zero emissions. In each operating market, Wisdom Motor works with partners to develop the infrastructure needed to make hydrogen fuel a viable solution.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

1 day ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.