- The partnership aims to address global challenges, including the treatment of cancer cells and climate change
Dubai, UAE – 18 April 2023: UAE-based company MBM Holding signed a memorandum of understanding (MoU) with Portland Holdings Investco Limited, a Canadian investment company based in Ontario, to collaborate on co-investments and partnerships across various fields, including nuclear medicine, targeted radionuclide therapy (TRT), as well as nuclear and renewable energy. The MoU was signed by Saeed Al Mutawa, CEO of MBM Holding, and Michael Lee-Chin, President and Chairman of Portland Holdings.
As part of the collaboration, the two parties seek to address global challenges by adopting innovative solutions in health sciences and nuclear and clean energy, particularly for treating cancer cells and renewable energy.
The partnership between MBM Holding and Portland Holdings Investco Limited aligns with the directives of the UAE’s wise leadership and the ambitious plans of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, to promote sustainable development, investments, and innovation across various scientific fields. Additionally, it comes as part of the UAE’s Year of Sustainability in preparation for the UAE hosting 'COP 28', and in accordance with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, for economic growth and environmental sustainability.
Saeed Al Mutawa, CEO of MBM Holding, said: “We are pleased to announce our cooperation with Portland Holdings Investco Limited, which supports the Dubai Economic Agenda (D33) that aims to double Dubai’s economy over the next ten years, raise the competitiveness of the business sector, and increase the volume of private sector investments, particularly in green industries, all to ensure a sustainable and prosperous future. With our diverse expertise, we are committed to delivering innovative solutions that enable us to address some of the most pressing challenges and contribute to the sustainable development of the UAE and the Middle East and North Africa region as a whole.”
'We will work extensively with our partners in Canada across several investment areas, but most importantly, we will cooperate to address two of the most pressing challenges facing humanity, which are treating cancer cells and addressing climate change. We are committed to deepening our partnership with the Portland Holdings group of companies, who are well positioned through their deep-rooted investments and partnerships to serve as a gateway to provide access to key technologies and intellectual property in health sciences, nuclear, and clean energy on a global scale. At MBM, we seek to contribute through our national responsibility to Dubai's journey toward sustainable economic development and the UAE's work in anticipating the future of different sciences.” he added.
Michael Lee-Chin, President and Chairman of Portland Holdings, said: “Our cooperation with MBM Holdings, one of the most successful Emirati companies, is an exceptional opportunity for us to contribute to the economic progress in scientific fields across Dubai and the UAE. Over the years, we have built a portfolio in health sciences and nuclear and clean energy, both in strong long-term growth industries. There is a need for countries around the world to curb their rising cancer incidence rates through innovative technologies such as TRT. Additionally, most countries aspire to transition to a net-zero carbon economy by 2050. Nuclear energy is considered one of the most reliable sources for lowering carbon footprints globally. In addition, other nuclear energy systems, such as micro modular reactors, will be able to produce hydrogen and steam in addition to electricity, which can help augment food security and energy security globally”.
Founded in 2014, MBM Holding is an investment company with its main activities focusing on financial services, real estate property development, investment, artificial intelligence for innovative solutions, vertical farming, consulting, energy conservation, and healthcare segments. The company aims to bring global expertise to Dubai and add substantial value to the development of the mentioned sectors.
With partners from all over the world and new innovative concepts, MBM Holding has proven to contribute to the development of Dubai and to implement the values of the mission and vision of Sheikh Mohammed bin Rashid Al Maktoum. MBM possesses a multinational management team that boasts credibility and a proven track record of successful leadership and is proudly one of the UAE’s most successful and fastest-growing entities.
Portland Holdings is headquartered in Ontario, Canada, with new deployment projects underway in the United States. It is a privately held investment company that manages public and private equities. Portland Holdings group of companies has a direct ownership interest in diverse businesses globally, operating in sectors that include life sciences, clean energy, tourism, agriculture, insurance, consumer goods, and financial services. Portland Holdings operates in over 20 countries and is responsible for directly and indirectly employing thousands of people in the Americas, including Canada and the Caribbean.
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