The Memorandum was signed by (from right): Chi-man Kwan, Group CEO and Co-founder of Raffles Family Office, Liu Yang, Chairman and CEO of National Cooperation New Energy, and His Highness Sheikh Ali Rashed Ali Saeed Al Maktoum.

As the U.A.E. pursues its commitment to an energy transition, it sets a target of having 50% electric and hybrid cars on the roads by 2050, as pledged at the 28^th UN Climate Change Conference (COP28). The U.A.E.is actively working towards installing 10,000 EV charging stations by 2030, a substantial increase from the 914 stations available in 2023.

The Private Office of His Highness Sheikh Ali Rashed Ali Saeed Al Maktoum said, "We are pleased to establish partnership with RFO, the largest multi-family office in APAC, and NCEC, a leading player in the renewable energy industry. Our vision aligns seamlessly with the objectives of Raffles Family Office and National Cooperation New Energy. We are particularly enthusiastic about collaborating in strategic investment and development between China and Dubai, specifically focusing on renewable infrastructure."

Liu Yang, Chairman and CEO of National Cooperation New Energy, said, "NCNE has consistently led the way in advancing renewable energy technologies. Our enthusiasm for this partnership with RFO stems from a shared vision to introduce our state-of-the-art solutions to the Middle East. With the strategic support of the HH Private Office, we find ourselves in an advantageous position to make a significant contribution to the region's energy transition. This collaboration not only aligns with our commitment to sustainable development but also represents a pivotal opportunity to drive meaningful change in the energy sector."

Hashtag: #RafflesFamilyOffice

The issuer is solely responsible for the content of this announcement.

References

1. ^{^} Media OutReach Newswire (www.media-outreach.com)