Supporting business growth:
Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector at the UAE Ministry of Finance, Chief Innovation Officer, and the Ministry’s representative at MBRIF, said: “The Mohammed Bin Rashid Innovation Fund plays a strategic role in advancing the UAE’s National Innovation Strategy and long-term vision to build a competitive, knowledge-based economy. By enabling innovators such as Fragrance Delivery Technologies to adopt Industry 4.0 technologies, we aim to strengthen our national industrial capabilities and establish strong foundations for a sustainable future economy. Our goal is to accelerate the transition from research and innovation to high-value economic output and support the growth of export-oriented, future-ready enterprises.”
Sustainable solutions:
Hydros Jassem, CEO of Fragrance Delivery Technologies (FDT), said: “After a decade of dedicated research and development to perfect our hydrogen fuel cell technology, the support from MBRIF marks a pivotal chapter in our journey. It enables us to transition to a highly efficient automated manufacturing model, enhancing our global competitiveness by offering sustainable alternatives to harmful aerosols. This partnership enables us to meet the growing international demand for sustainable air care while keeping our core R&D and manufacturing roots firmly planted in the UAE.”
Founded in 2008, FDT is a manufacturer of innovative non-aerosol, continuous fragrance and odor control systems powered by patented hydrogen fuel cell technology. The MBRIF guarantee will directly support FDT’s transition toward Industry 4.0 standards, upgrading their facility with high-precision automation equipment. The funding is designed to enhance FDT’s production efficiency and scalability to meet rising global demand for its eco-friendly air care solutions. With 95% of its workforce in the UAE and over 90% of its products exported, FDT is a prime example of the ‘Made in UAE’ success story.
As a key part of its support for innovative companies in the UAE, MBRIF’s Guarantee Scheme plays a pivotal role driving the country’s innovation ecosystem by providing affordable debt financing to groundbreaking companies without requiring equity transfer.
This Scheme, along with the Innovation Accelerator Program that support innovative companies in the UAE, reflects MBRIF’s dedication to helping drive the growth of disruptive enterprises and to contributing to the country’s economic diversification and sustainable development.
