Cairo, Egypt, December 7, 2023 _ Scheider Electric, the global leader in the digital transformation of energy management and automation, and Magnom Properties, a subsidiary of Rawabi Holding, have joined forces to share their expertise in smart buildings during their participation in the United Nations Climate Change Conference (COP28) in Dubai, United Arab Emirates. Both companies showcased their deployed technologies, which focus on achieving energy efficiency, reducing carbon emissions resulting from buildings, and promoting sustainability within the real estate sector through the futuristic “Forbes International Tower” in the New Administrative Capital, Egypt. The tower is the first project in the world to run entirely on the Liquid Organic Hydrogen Carrier (LOHC) system, enabling hydrogen to be stored, transported and released in a safe and sustainable manner.
During a special event held at Schneider Electric’s pavilion in COP28 and attended by Peter Herweck, CEO of Schneider Electric, Walid Sheta, Schneider Electric President of Middle East and Africa, Sebastian Riez, Cluster President of Schneider Electric Northeast Africa and Levant, Osman A. Ibrahim, Vice Chairman and Group CEO of Rawabi Holding and Vice Chairman of Magnom Properties, and Maged Marie, CEO of Magnom Properties, and in the presence of Eng. Khaled Abbas, Chairman of the Administrative Capital For Urban Development (ACUD), Egypt, the successful partnership between the two companies and the execution plan of the joint project was showcased.
Last June, Sebastien Riez, Cluster President of Schneider Electric North East Africa and Levant, and Maged Marie, CEO of Magnom Properties, signed a Memorandum of Understanding (MoU) to operate the futuristic “Forbes International Tower”, aligning with the shared strategic direction of both companies of nurturing innovation in the real estate sector. The MoU aims to increase reliance on electricity as a source of energy to create zero-carbon buildings leveraging Schneider Electric’s Electricity 4.0 concept to create a sustainable future by using cleaner and smarter energy to reduce 68% of wasted energy caused by inefficient production and consumption.
“Smart buildings and cities are experiencing rapid growth, necessitating an acceleration in digital transformation to empower developers to enhance the quality and progress of their businesses. This surge is supported by studies conducted by Schneider Electric, revealing that buildings consume approximately 30% of the world's energy and are responsible for 40% of carbon emissions,” stated Sebastien Riez, Cluster President of Schneider Electric Northeast Africa and Levant. “Collaborating with Magnom Properties via Forbes International Tower stands as a prime example of successful partnerships and its role in driving innovation, energy and resource efficiency, as well as sustainability.” Riez concluded.
Osman A. Ibrahim, Vice Chairman and Group CEO of Rawabi Holding and Vice Chairman of Magnom Properties, said: “Rawabi Holding as an institution has long been committed to long-term sustainability on a regional level. We are delighted to sign this MoU with Schneider Electric to drive innovative smart climate solutions that address pressing challenges of urban development.”
Maged Marie, CEO of Magnom Properties, stated: “At Magnom Properties, our projects are guided by a central objective, which is to deploy modern technology and embrace innovation as the cornerstone of our operations to create a greener and more sustainable future for all. By doing so, we align ourselves with the UN 2030 Sustainable Development Agenda. The widespread integration of technology in buildings necessitates collective efforts and is paramount to reducing carbon emissions and achieving sustainability. Our collaboration with Schneider Electric serves as a testament to our unwavering commitment to constructing smart buildings capable of generating clean and renewable energy, which will yield significant changes throughout the region.”
Within the framework of the partnership, Forbes International Tower will operate on Liquid Organic Hydrogen Carrier (LOHC), which is a clean, renewable and low carbon energy solution that creates clean hydrogen by using previously non-recyclable plastics and other organic wastes to generate energy. The tower will not only tackle critical energy challenges but also power its operational needs around the clock in a sustainable manner. The surplus of clean hydrogen will be used for a wide range of other applications to support the energy needs of businesses in the region. Schneider Electric also offers a wide array of smart building solutions designed to reduce emissions and sustainably manage energy including power distribution systems, building data platforms, microgrids, water treatment systems, and smart irrigation systems amongst others.
