ADQ has signed an agreement with Eni, a global energy tech company headquartered in Rome, Italy, to identify potential strategic areas of cooperation aimed at strengthening supply chains for critical minerals essential to driving the energy transition.
The collaboration will prioritise potential investments in key regions such as Africa, North America, and Central Asia, where both companies will pursue opportunities and explore synergies across the entire critical and strategic minerals value chain, from mining to refining, processing, and downstream applications. The agreement will assess the feasibility of establishing refining and processing facilities in the UAE as well as in Italy and other strategic hubs.
The International Energy Agency projects that the consumption of critical minerals could increase sixfold by 2050. This surge in demand is driven by the growing adoption of clean energy technologies, including electric vehicles, wind turbines, solar panels, and energy storage systems, all of which rely heavily on minerals such as lithium, cobalt, nickel, and rare earth elements for their production.
Hamad Al Hammadi, Deputy Group Chief Executive Officer of ADQ, said: “As the world transitions to cleaner energy solutions, safeguarding a stable and resilient supply of critical minerals is essential for enabling the development and deployment of technologies that drive this fundamental change. Through our MoU with Eni, we aim to combine our expertise and capabilities to develop high-impact projects across the entire value chain that ensure the availability and affordability of these critical resources. This underscores our commitment to forging partnerships that drive long-term, transformative value for our portfolio companies as well as for the broader economies they operate in.”
Claudio Descalzi, Chief Executive Officer of Eni S.p.A, said: “The agreement Eni signed with ADQ is part of our partnership with the UAE and a testament to our shared commitment to a sustainable energy future, leveraging innovation and collaboration across key sectors. Together with leading UAE companies, we will develop initiatives in areas that are essential to the energy transition. This strategic cooperation underscores our dedication to driving technological progress and contributing to energy security on a global scale.”
Operating in 62 countries, Eni is an integrated energy company seeking to play a key role in ensuring energy security and leading the energy transition. Eni’s stated goal is to achieve carbon neutrality by 2050 through the decarbonisation of its processes and of the products it sells to its customers. In line with this goal, Eni invests in the research and development of technologies that can accelerate the transition to increasingly sustainable energy.
The agreement with Eni complements ADQ’s existing investments in the sector, including Orion Abu Dhabi, a recently established 50-50 joint venture with Orion Resource Partners, a global investment firm specializing in the metals and materials critical to sustainable economic growth and the energy transition.
