OXON Technologies and Innovest Holding plan to develop and implement a $400 million clean fuels investment program in the U.S. and UAE that aims to extend the countries’ lead in low-carbon energy innovation.
OXON is a Nevada-based company with a clean fuel technology named OXONtech and Innovest is an Abu Dhabi-based company that specializes in identifying and facilitating strategic investments for the UAE. Their strategic agreement is valued at $400 million over 10 years, the companies reported.
The project will include a large investment in OXON. The agreement also covers purchase of OXONtech products to power next-generation, clean fuels refined in the UAE. With this clean fuels investment program, the UAE will support the growth of U.S. manufacturing and exports as well as expedite the transformation of the UAE into a global leader in clean fuels development and export.
“Oxon Technologies welcomes this exciting next step in our two years of development and technology testing with our UAE partners,” OXON CEO Andrew Lowenstein said in a news release. “This program focuses our shared vision of sustainable economic growth, technological innovation, and global leadership in environmental responsibility.”
This strategic program follows several years of successful collaboration between OXON, Innovest, and UAE energy companies, and underscores the UAE’s commitment to pioneering clean fuel and advanced chemical industries in both the U.S. and the UAE. The announcement was made during the Abu Dhabi “Make It In the Emirates 2025” event, which highlighted strategic investments and industrial partnerships, emphasizing the UAE’s vision for future growth and innovation.
The project will support the construction of two state-of-the-art industrial centers dedicated to advanced fuel enhancement solutions, the partners reported. The first, a greenfield manufacturing plant to be located in the U.S., will produce OXONtech products on a large scale. Upon full start up in late 2027, the plant will support 625 new American jobs. The second, the UAE Center for Clean Fuel Excellence to be located in Al Ain, UAE, will focus on developing new formulations of clean fuels. Upon full start up in 2027, this center will support 250 new Emirati jobs.
As a key component of the investment program, Innovest’s partners will purchase OXONtech products, which will become a key component in refining and blending clean fuels for sale in the Gulf Cooperation Council (GCC) and export from the UAE.
“At Innovest, we believe in shaping the future through transformative, sustainable technologies,” Innovest CEO Mohammed Mahfouz said. “Our partnership with OXON Technologies to bring clean fuel tech to the UAE is more than an investment—it’s a commitment to clean energy leadership, national industrial growth, and global environmental impact.
“This venture is a testament to our vision of turning innovation into action and placing the UAE at the forefront of next-generation green fuel solutions. Together, we are not only reducing emissions and fuel consumption—we are igniting a new era of responsible energy manufacturing from the heart of the Emirates.”