Biodegradable oil-spill absorbent receives funding along with Microsoft and PricewaterhouseCoopers
DOHA, Qatar & ATLANTA (June 22, 2022) -- Green Boom, a revolutionary line of eco-friendly oil absorbent products, is proud to announce that it signed a Memorandums of Understanding (MoUs) with Investment Promotion Agency Qatar (IPA Qatar) during the second annual Qatar Economic Forum powered by Bloomberg from June 20 to June 22.
“Green Boom is excited to take this step towards creating a presence in the Middle East where our innovative products will make a meaningful impact in protecting the environment,” Green Boom Co-Founder & CEO said. “ The support of IPA Qatar is crucial to our plans, and we thank Sheikh Ali and the many members of the IPA Qatar staff who have supported and continue to support us in our efforts here.”
IPA Qatar’s partnership with Green Boom will facilitate the introduction of the company’s green cutting-edge technologies to the Qatari market through the setting up of a manufacturing plant and regional distribution center to serve the Middle East, North Africa and India. In addition to introducing new technologies and accelerating innovative manufacturing in Qatar, the partnership also entails fostering local talent and creating approximately 100 new jobs.
“This partnership with Green Boom further cements Qatar’s growing reputation as a thriving and supportive international business hub and is a testament to the country’s unwavering commitment towards developing a sustainable, knowledge-based economy,” IPA Qatar CEO Sheikh Ali Alwaleed Al-Thani said. “We look forward to supporting Green Boom’s establishment and expansion of operations in Qatar.”
IPA Qatar acts as a gateway to all investment solutions in Qatar, representing the single point of contact on a national level to network with international organizations, offering them world-class support to set up their businesses in Qatar. Since its inception, IPA Qatar has actively engaged with local, regional and international business communities, embarking on significant partnerships. The most recent include Iberdrola, Business France, German Federal Association for SMEs (BVMW), and Credit Suisse, among others.
In this context, and given the mutual interest and goals, the cooperation with Green Boom comes as a natural extension to explore new horizons of knowledge, expertise, and best practices, in addition to setting the framework for business expansion.
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About Green Boom
Green Boom is the only 100 percent biodegradable line of oil-only absorbents suitable for large spill response, industrial and transportation MRO, and safety spill kits. Available in industry-standard pillows, socks, booms and loose absorbents, these green alternative products have a larger capacity, faster absorbency, and are more durable than polypropylene at a comparable price. For more information, please visit www.greenboom.com.
About the Investment Promotion Agency Qatar
The Investment Promotion Agency Qatar (IPA Qatar) oversees investment promotion activities under the Invest Qatar brand and acts as the country’s umbrella organization for FDI attraction. Through its close coordination with Qatari licensing platforms, it helps businesses advance their ambitions and achieve long-term success by delivering the support, advice, and expertise needed. IPA Qatar’s goal is to showcase Qatar as an exceptional investment destination, connecting international investors to business opportunities, while bringing progress to the country’s economic development and diversification goals across sectors and geographies. For more information, please visit www.invest.qa.