The partnership with Archireef is testament to ADQ’s commitment to supporting biodiversity finance and contributing to the preservation of habitats and species under the umbrella of its wider ESG aspirations….reports Asian Lite News
ADQ, an Abu Dhabi-based investment and holding company, announced a partnership with Archireef, a climate technology company headquartered in Hong Kong, which will fund research and implement eco-engineering solutions for marine biodiversity restoration using the latest technologies in 3D printing, IoT, and AI.
Under the partnership, Archireef will deploy artificial terracotta-based reef tiles to support the restoration of habitats in two marine conservation sites in Abu Dhabi. As a sustainable investor creating value for the benefit of future generations, ADQ engages in projects and initiatives that complement its portfolio while benefiting local communities and the environment.
The partnership with Archireef is testament to ADQ’s commitment to supporting biodiversity finance and contributing to the preservation of habitats and species under the umbrella of its wider ESG aspirations.
Anas Jawdat AlBarguthi, Chief Operating Officer at ADQ, said, “Our collaboration with Archireef to restore the coral ecosystem is part of our commitment to harness innovative solutions to support national and international biodiversity preservation efforts. We are focused on investing in projects that create long-term value and promote the sustainable transformation of Abu Dhabi to positively impact people, society, and the environment. By harnessing and encouraging the development of R&D capabilities, we are deploying capital and cultivating mutually beneficial partnerships to tackle the key climate challenges affecting our region.”
Vriko Yu, Co-Founder and CEO at Archireef, added, “ADQ’s endorsement is invaluable in supporting the development of Climate Tech, which is making a positive impact on marine ecosystems around the world. Coral reefs are crucial to supporting marine life and contribute significantly to coastal and flood protection. As Abu Dhabi actively addresses climate change, we look forward to contributing to the UAE’s Net Zero 2050 target and helping to achieve sustainable restoration of the emirate’s marine biodiversity.”
A renowned pioneer in producing terracotta-based coral reef tiles, Archireef will lead the conservation and restoration project and has established a regional production facility in the industrial zone KIZAD, Abu Dhabi, for production of their proprietary coral reef tiles and research and development into marine conservation solutions.
The emirate of Abu Dhabi is home to 34 different types of hard coral spread in several locations, including Ras Ghanada, Butinah, Alsaadiyat and Alnouf. In 2017 alone, Abu Dhabi lost 73 percent of its reefs due to mass coral bleaching, caused by an increase in water temperature.
Although coral reefs cover less than 1 percent of the Earth’s surface, they are home to 25 percent of all marine fish species and support approximately 4000 species of fish and 800 types of coral.