Emirate will be a major sales hub in the region and potential future manufacturing base

27 August 2024, Abu Dhabi – Loop Global Inc, a U.S.-based turnkey provider of EV charging solutions, announced the opening of its regional office in Abu Dhabi, which will showcase Loop’s innovative charging technology and serve as the base for sales and distribution in the broader region.

“Our aim is to be the UAE’s No. 1 EV charging provider and to use Abu Dhabi as a base for our regional expansion,” said Loop CEO Olga Shevorenkova. “We will look to recruit and hire locally as well as look down the road at opportunities to bring manufacturing and R&D activities to Abu Dhabi, which would allow it to become an integrated center of excellence for Loop.”

Loop President and Co-Founder Zack Martin said: “The company established its regional HQ in Abu Dhabi in response to growing local and regional market demand for EV technologies. The UAE’s leadership has demonstrated its determination to lead the world’s clean-energy transition and has been exceptionally far-sighted in pursuit of its sustainability goals and the push to net-zero emissions.”

Abu Dhabi has signaled its intention to install tens of thousands of EV charging stations by 2030. The stations will be located at retail locations, multi-family residences, government offices, petrol stations, and other locations. Reem Mall is among the first locations in Abu Dhabi to install Loop charging stations.

Agility Global, a multi-business owner, operator and investor listed on the Abu Dhabi Securities Exchange (ADX), is an investor in Loop. Agility Global went public on the ADX in May. Agility Global is committed to bringing international investment and innovation to the UAE and the broader GCC.

Tarek Sultan, Chairman – Agility Global, said: “Agility Global shares Abu Dhabi’s vision of a cleaner energy future. By helping Loop establish roots here, we are able to help Abu Dhabi reach its sustainability goals, attract investment, create jobs, and become a center of innovation.”

Loop, based in California, has built one of the largest charging networks in the United States and currently operates more than 6,500 chargers.

Loop’s flagship Flex and Infinity systems can charge passenger and commercial vehicles alike. Its 22 kW EV-Flex stations provide up to 77 miles of range per hour. Loop’s quick-charging 300 kW Infinity Flash stations provide up to 800 miles of range per hour. Loop’s innovative technology offers substantial advantages for both drivers and charging-station hosts. Loop’s mobile app allows drivers to find the nearest chargers, then initiate, monitor, and pay for charging. Where available, drivers can also pay directly using a convenient credit card reader. Charging-station hosts pay no monthly network fees or operating costs. They set billing rates and receive 90% of charging revenue. Loop boasts the industry’s lowest total cost of ownership and an industry-leading uptime.