It also took a minority stake in a local artificial intelligence and cloud computing company Group 42 after transferring ownership of two information technology companies it owns – Injazat and Khazna Data Centres – to the business in November last year.
“We have the right ecosystem, we have the right partnerships globally and we are confident that we will push the economic diversification [of the UAE’s economy] going forward,” Mr Al Kaabi told the forum, which is taking place online due to Covid-19.
Mubadala is bullish on the prospects for hydrogen and earlier this week signed a preliminary agreement with Siemens to explore investment and commercial opportunities in clean energy and green hydrogen, which includes potentially setting up a demonstrator plant at Masdar City.