Press Releases


21 Feb 2024

ENGIE Launches Venture Studio to Boost Climate Tech Startups Across the Middle East

ENGIE Factory is the venture building arm of ENGIE Group, a leader in low-carbon energy and services. Committed to helping customers decarbonize and accelerate the energy transition, ENGIE Factory supports the business activities with building and investing in early-stage startups. Leveraging on its diverse portfolio and proven model, ENGIE Factory is set to support the growing entrepreneurial ecosystem of the Middle East.

Dubai, February 2024 – With a commitment to building and investing in startups which accelerate the energy transition and speed of decarbonisation, ENGIE Factory aims to be at the forefront of driving a new wave of innovation in the Middle East. ENGIE Factory collaborates with entrepreneurs to develop new business models and fundable startups. “We build innovative startups from scratch with founders and leverage the Group’s expertise, funding and market access to accelerate their solutions.” said Caroline Guyot, Managing Director, ENGIE Factory.

Launched in Singapore in 2019, ENGIE Factory has built over 14 startups which are solving pressing climate issues. Examples are startups decarbonizing hard to abate industries, accelerating the distribution of renewables with business model innovation and developing intelligent software to facilitate the energy transition. “In close collaboration with investors, governments and other corporates, we have built a unique model for corporate venture building. We couldn’t do this without the support of our valued partners, which are a critical driver for success in the Middle East”, says Guyot.

“As the need for climate action becomes ever more urgent in the face of global warming, it is vital that we leverage the latest innovations available to us as a community to solve the challenges that stand in the way of reaching Net Zero. By supporting the latest innovations emerging in the tech start-up community, it is our hope that we can develop meaningful solutions that helps industry decarbonize,” said Tomaz Guadagnin, Country Manager GCC & Pakistan, ENGIE.

ENGIE Factory invites entrepreneurs and investors to join us in building the next climate tech startups in the Middle East helping to advance much needed decarbonization initiatives to safeguard our future.