startustartup

Unlike public stock exchanges, which offer daily trading, strict regulatory disclosure, and high liquidity, private markets are less transparent, have lower liquidity, and require long-term commitments. They also have less oversight and are generally considered riskier. With that in mind, many savvy investors wonder whether it’s time for them to invest in the private market. It can be worthwhile for these reasons: 

Higher Returns Potential

Once you’ve established the distinctions between accredited investor and qualified purchaser and established your financial capacity to engage with the risks of private investments, you may enjoy higher returns. 

Private companies tend to be earlier in their growth stages than public companies. If you invest in an early-stage company before it becomes widely known and it grows significantly, your returns can be much higher. 

WhatsApp is a great success story as a Venture Capital-backed company. The company’s only venture investor, Sequoia Capital, turned $60 million into $3 billion when Facebook bought WhatsApp for approximately $19 billion. 

Many investors had been skeptical about investing in WhatsApp because it only charged $1 per year and had no ads. However, Sequoia Capital believed in massive user growth, a simple product, and strong founders. They invested $8 million in 2011, $52 million more in 2013, and made their return upon the company’s sale when they owned around 15-20% of the company at acquisition. 

Less Daily Market Volatility

As a public stock investor, you generally keep tabs on what your investments are doing every day. They are prone to change moment to moment, driven by news and market emotions. Most changes occur within milliseconds between 9.30am and 4pm EST in the US, but volatility continues in pre-market and after-hours trading. 

Private investments are more about playing the long game. Once you invest, you must sit and wait for the magic to happen. Private investments aren’t traded daily and don’t fluctuate in price every minute. As a result, your investment can feel more stable, even though risk still exists. 

One of the least volatile private market investments is core private infrastructure, such as toll roads, airports, and data communication networks. They provide stable cash flows through contracts and regular demand. As they aren’t actively traded on public exchanges, there are fewer valuation swings. 

Diversification 

There’s no denying that the private market is risky. That’s why you must be a qualified purchaser or accredited investor to make certain investments through various platforms. Standards include a minimum annual income and net worth, professional certifications, and knowledgeable employees or investment managers.

However, in the same way that you can spread your risk across multiple investment types in the public market, you can do the same in the private market. You can invest in startups, private real estate, private credit, and infrastructure projects. The risk varies across all investment types, which helps investors diversify their portfolios and avoid concentrating their exposure in a single asset or strategy. 

Exclusive Opportunities

Startups can offer thousands of percents in returns, but the risks are very high at the seed stage.You can miss out on a lot of early growth if you wait until a company goes public before you invest (see how to build a 100 year old company). In today’s market, many high-growth companies are staying private for longer. Rather than raising capital in public markets, they raise capital through private funding rounds from private equity and venture capital investors. 

As a result, much of the early growth occurs while the company is still private, including rapid scaling, market dominance, and revenue expansion. If you invest in such companies early on, you can expand your opportunity set, increase potential return sources, and diversify your portfolio. 

You may be surprised by how many companies have chosen to remain private for longer. Stripe is one of the most valuable fintech firms and was private for over a decade. They wanted to avoid short-term scrutiny of public markets and focus on their product development and long-term infrastructure. SpaceX also raised billions of dollars in private funding and achieved major technological milestones, all while not listing on a public exchange.  

There are undoubtedly many things to be mindful of before investing your hard-earned money, but the private market is bound to pique your curiosity. As an eligible qualified purchaser or accredited investor, you may access exclusive opportunities, higher return potential, and numerous diversification options. Green Prophet does not endorse investing in any company without using an SEC-compliant, accredited investor. 

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Egypt-based agritech Viridia Tech has been named the overall winner of the 2024 Mega Green Accelerator, awarded the $100,000 grand prize in Saudi Arabia for their impactful data analytics platform, which helps farmers grow crops more sustainably and efficiently.

Viridia Tech has been named the overall winner of the 2024 Mega Green Accelerator, following an exciting industry Demo Day held in Riyadh where eight startups from across the Middle East and North Africa region showcased innovative solutions addressing food security, clean energy transitions, and the circular economy.

Read more: Red Sea farms from KAUST grows food with brackish water

The Mega Green Accelerator, launched in 2023 by PepsiCo, SABIC, AstroLabs, and eleven other strategic partners, received over 350 submissions. The eight selected startups participated in a six-month programme of trainings and workshops, mentorship from business leaders, and opportunities to network, scale their businesses, and gain access to investors.

“PepsiCo has been a key partner in the region for 70 years, and we remain committed to supporting progress and empowering the next generation. Through MENA Innovates, we are focused on driving meaningful change by backing startups and advancing broader initiatives that promote innovation across the region. We look forward to seeing how the startups will contribute to a more sustainable future,” said Wael Ismail, Vice President of Corporate Affairs, PepsiCo AMESA (Africa, Middle East, and South Asia).

At the Demo Day, Egypt-based Viridia Tech was awarded the $100,000 grand prize for their artificial intelligence and data analytics platform, which provides real-time insights and recommendations to help farmers grow crops more efficiently and sustainably and forecast yields accurately.

Foreign-founded but Saudi Arabia-based Mirai Solar out of KAUST produces an innovative solar-powered shade system, received the $30,000 second place prize.

The Mega Green Accelerator is part of PepsiCo’s MENA Innovates programs, which champion entrepreneurship, innovation, and sustainability through a series of events and initiatives that celebrate groundbreaking ideas and inspire future leaders.

Eight startups, including Mrüna and The Surpluss (UAE), AHYA TECHNOLOGIES (KSA), YY ReGen (Lebanon), P-VITA (Egypt), and Kumulus (Tunisia), were selected for this year’s edition of the Accelerator, led by PepsiCo, SABIC, AstroLabs, and eleven strategic partners.

None of the companies in the competition included submissions from Israel – a proven, global leader in agtech, solar and water tech. Green Prophet calls on Saudi Arabia aiming to be a global tourism and business hub by 2030 to fight antisemitism in all its forms, including the exclusion of Jewish candidates from MENA prizes and exhibitions. It is common for the Arab world to circumvent antisemitism by inviting “Palestinians” who can be Arab Israelis, without letting the Jewish Israeli members of the MENA region participate. Decades of quiet antisemitism are no longer acceptable in contests and calls to actions by EU-funded, UN-funded and privately-funded contests.

A few leading cleantech inventions from Israel include CropX, Ormat Geothermal, and SolarEdge, solar energy technology.

About the start-ups participating in the 2024 edition

Curious to know more about this accelerator hosted by PepsiCo, click here for last year’s winners which include companies from Lebanon, Jordan, and the UAE.

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Last year 2023 saw the highest ever increase in renewable energy jobs, from 13.7 million in 2022 to 16.2 million, according to the newly released Renewable Energy and Jobs – Annual Review 2024 by the International Renewable Energy Agency (IRENA) and the International Labour Organization (ILO). The 18% year-on-year leap reflects the strong growth of renewables generating capacities, together with a continued expansion of equipment manufacturing.

A closer look at the report’s data, however, shows an uneven global picture. Close to two-thirds of new global solar and wind capacity were installed in China alone last year. China leads with an estimated 7.4 million renewable energy jobs, or 46% of the global total. The EU followed suit with 1.8 million, Brazil with 1.56 million, and the United States and India, each with close to 1 million jobs.

As in the past few years, the strongest impetus came from the rapidly growing solar photovoltaics (PV) sector, which supported 7.2 million jobs globally. Of these, 4.6 million were in China, the dominant PV manufacturer and installer. Enabled by significant Chinese investments, Southeast Asia has emerged as an important export hub of solar PV, creating jobs in the region.

Liquid biofuels had the second-largest number of jobs, followed by hydropower and wind. Brazil topped the biofuels ranks, accounting for one third of the world’s 2.8 million jobs in this sector. Soaring production put Indonesia in second, with a quarter of global biofuels jobs.

Due to a slowdown in deployment, hydropower became an outlier to the overall growth trend, with the number of direct jobs estimated to have shrunk from 2.5 million in 2022 to 2.3 million. China, India, Brazil, Vietnam and Pakistan were the largest employers in the industry.

In the wind sector, China and Europe remain dominant. As leaders in turbine manufacturing and installations, they contributed 52% and 21% to the global total of 1.5 million jobs, respectively.

Africa’s impact still small

Despite a great promise from Desertec, bringing solar power from Africa to Europe, Africa’s impact is still small. Africa continues to receive only a small share of global renewables investments, which translated into a total of 324,000 renewables jobs in 2023.

For regions in urgent need of reliable and sustainable energy access like Africa, and especially in remote areas, decentralised renewable energy (DRE) solutions–stand-alone systems that are not connected to the utility grids–present an opportunity to both plug the access gap and generate jobs. See Innovation: Africa. Removing barriers for women to start entrepreneurship initiatives in DRE can stimulate the sector, resulting in improved local economies and energy equity.

Acknowledging the high degree of geographic concentration, Francesco La Camera, IRENA Director-General, said, “The story of the energy transition and its socio-economic gains should not be about one or two regions. If we are all to fulfil our collective pledge to triple renewable power capacity by 2030, the world must step up its game and support marginalised regions in addressing barriers impeding their transitions progress. Strengthened international collaboration can mobilise increased finance towards policy support and capacity building in countries that are yet to benefit from renewables job creation.”

To meet the energy transitions’ growing demand for diverse skills and talents, policies must support measures in favour of greater workforce diversity and gender equity. Representing 32% of the renewables total workforce, women continue to hold an unequal share even as the number of jobs keeps rising. It is essential that education and trainings lead to diverse job opportunities for women, youth, and members of minority and disadvantaged groups.

“Investing in education, skills, and training helps reskill all workers from fossil fuel sectors, address gender or other disparities, and prepare the workforce for new clean energy roles. It is essential if we are to equip workers with the knowledge and skills that they need to get decent jobs, and to ensure that the energy transition is a just and sustainable one. A sustainable transition is what the Paris Agreement requires of us, and what we committed to achieving when we signed up to the Agreement,” explained ILO Director-General, Gilbert F. Houngbo.

This 11th edition of the Annual Review is part of IRENA’s extensive analytical work on the socio-economic impacts of a renewables-based energy transition. This edition—which is the 4th edition developed in collaboration with ILO–underscores the importance of a people- and planet-centred approach to achieve a just and inclusive transition.

It calls for a holistic policy framework that goes beyond the pursuit of technological innovation to rapidly meet the tripling target at the lowest-possible cost, and prioritises local value creation, ensures the creation of decent jobs, and builds on active participation by workers and communities in shaping the energy transition. Building on its expertise on the world of work, the ILO contributed the report’s chapter on skills.

The report is found here.

IRENA or The International Renewable Energy Agency is an intergovernmental organization, founded in 2009, and mandated to facilitate cooperation, advance knowledge, and promote the adoption and sustainable use of renewable energy. It is based in Masdar City, UAE.

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With the increase of jobs and lure to tech in the Bay Area, where to lay one’s hat is still a main problem in today’s housing crisis. Maybe you are a carefree environmentalist who can work at the office by day and rent  a sleeping pod by night but if you are over the age of 27 living in teeny tiny houses and sharing “pods” and vans with friends, being green is probably no longer a fun experiment. Covid has taught us the importance of a stable home and WiFi, the need for a good kitchen and healthy food –– and also about community and space where we can wander or retreat with our bubble of friends or family. 

So what are the options for Bay dwellers? A new planned community called Lagoon Valley is being built between the Bay Area and Sacramento, and the project developers believe they are doing their part for planet earth. They are raising the green flag for all the people around the planet who may love Burning Man and glamping but ultimately want to settle into a place that helps define values and community and which may include aging parents. 

Using green building codes that will go above Californian standards, Lagoon Valley says they will also protect, improve, and preserve more than 1,300 acres of land and resources. Eighty-five percent of the community’s specific plan is dedicated to open space and parks and recreation — creating an environment where wildlife and people can thrive.

With the Bay Area as the largest tech market in the United States, San Francisco has a cost-of-living index of 269.3, almost twice as high as Vacaville, California. Lagoon Valley, on the outskirts of Vacaville, which broke ground in June, anticipates its first residents will move in summer of 2023. It is just 53 miles from San Francisco and will provide fourteen neighborhoods with 1,015 homes varying in size and price ranges, including neighborhoods offering affordable housing, as well as age-qualified residences, and estate homes designed to encourage multi-generational living. 

“We know that creating a conservation community is the right way. However, it is not the easy way, and Lagoon Valley has taken decades to plan,” says Curt Johansen, Development Director, Triad Lagoon Valley, LLC “Investing in the planet means living on it as lightly as possible. We’ve done that with this dynamic community.”

5 ways Lagoon Valley protects the earth and improves “human” well-being

Gardens in the center: The community’s organic, community-supported farming teaches children and adults to respect, protect, and care for the land in ways that inspire stewardship, social connection, and wellness, not to mention delicious dishes. 

Wetlands preservation in situ: Communities that combine wetlands preservation and expansive wildlife habitat in their neighborhood planning create positive change. In addition to encouraging the ecological literacy of community residents, they help maintain a balanced ecosystem. 

Solar Powered Homes: Solar energy, both active (for electricity) and passive (for winter heat retention and summer cooling), is no longer optional – it is essential to reduce our carbon footprint, reduce impacts to the biosphere, and mitigate climate change.

Car-optional community: like big cities where people can walk to work or walk to their local shops and community centers, Lagoon Valley is an intentional community that will make it easy for people to navigate and shop by foot or by bike.  

Using reclaimed water:  California’s drought problems are a liability if you are buying a home. Will you have water for the bath tomorrow? Lagoon homeowners have the option to reduce potable water consumption by up to 50% through reclamation of greywater built into their home. 

Some 72% of Lagoon Valley’s 2,400-acre specific plan is dedicated open space and 13% for parks and recreation. The neighborhoods are interconnected with trails that offer easy access to adjoining villages, the Town Center, the Community Farm, neighborhood parks, recreational facilities, an 18-hole golf course seeking Audubon certification, and a Community Event Center with a full complement of amenities. It will be the first conservation community of its kind in the San Francisco Bay Area.

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Switching to solar energy is a big decision, and clashing information about alternative energy can drag you in separate directions until you’re stretched thin. Although the change may sound daunting, solar-powered homes have become increasingly popular in the past few years. The growing demand for solar panels drives a competitive market, meaning manufacturers are producing higher-quality panels at lower prices.

Because of innovative panel solutions and installation methods, going solar is easier than ever. Once you’ve cleared the smog of solar panel misconceptions, you can rest easy knowing that investing in solar panel kits will charge up your home without draining your bank account.

High cost

Although a solar panel system’s initial cost is more than a monthly energy bill, the amount of money saved by forgoing power companies to run your home is worth the investment. Your house will run independently of traditional utility businesses, and you’ll ultimately avoid rising energy costs. There are also tax incentives for homeowners who choose to go solar, giving you even more savings in the future.

Not enough space

Solar panels have a lower power-density than fossil fuels or coal, which traditionally run your local power grid. Because of their decreased density, you need more solar panels to generate the same energy levels as a traditional power grid. You may not have enough space to power your entire home, but solar power isn’t all-or-nothing. You can still connect to your local power grid while saving money using solar panels for partial energy. Even one solar panel installed on your roof will help you save money on your monthly electricity bill.

The installation will cause damage

People against solar panels are often under the impression that installation will damage their roofs. However, when installed correctly by reputable alternative energy companies, your house will be safe, sound, and energy-efficient. Additionally, if your roof is under warranty, you’ll be protected from damages.

Solar panels don’t last

Although early solar panel models were finicky and prone to breaking, newer, high-tech models are durable and storm-resistant. Electrical components lay underneath layers of industrial-grade glass, protecting them from weather conditions like hail or severe rain. Not only are new solar panels long-lasting and tough, but most manufacturers also offer warranties protecting against damage within the first ten years of purchase.

Panels will tank resale value

One of the most widespread misconceptions about solar panels is that they decrease release value, turning off homebuyers when deciding to list. However, modern panels are sleek and clean in design and offer lowered energy costs across the board. Additionally, panels allow you increased control over your energy consumption, which is an incentive for potential buyers.

Solar panels only work during sunny days

Solar power is an “intermittent energy source,” meaning it isn’t always producing energy. While it’s true panels only collect energy when the sun is shining, they can still power your home after the sun has set. Solar power systems connect to batteries that store excess energy to use when the panels are no longer soaking in the rays. Another concern is cloudy days inhibiting streams of light. Although clouds may drop production slightly, your system will still produce energy on the dreariest of days.

Solar panels require a lot of maintenance

Many unknowing individuals believe panels require mass amounts of maintenance to keep them running smoothly. While alternative energy sources will require some upkeep, the workload is light and sparse. Routine maintenance isn’t more than wiping panels down and clearing collected roof debris.

Although keeping your solar panels clean and clear helps them last longer and run efficiently, insuring them under warranty is advised for extra TLC. If your system does require additional care, it’s best to call in the experts, allowing them to work out the kinks.

Final thoughts

While solar energy has drawbacks, like initial cost, space, and maintenance, the environmental and economic advantages are worth the investment. Solar power engineering is making strides in innovative approaches and increased recycling efforts. Lower the cost of your energy bill and environmental impact by going solar.

The post Going Solar? 7 Misconceptions About Solar Panels Clouding Your Judgement appeared first on Green Prophet.

Israel’s most active investor along with his counterpart in the United Arab Emirates are banding together to create a new tech investment partnership. The announcement has come hot on the heels of a peace deal between Israel and the United Arab Emirates last month. If you read some of the commentary between the two men you’d imagine it’s the biggest new love story on the planet: but I see it as a chance for individual investors to help grease the wheels of peace and an “in” for cleantech companies from Israel eyeing the Gulf region to explore new business opportunities.

OurCrowd, the world’s largest global venture investing platform, signed a memorandum of understanding this week with UAE businessman Abdullah S Al Naboodah to create Phoenix as part of a 100m investment fund. Veteran investor Sabah Al-Binali will head OurCrowd’s Gulf operations. 

This is the first announced partnership between an established UAE corporation and a major Israeli venture investment firm at this level of commitment. Until now bilateral trade and investments have been rare and almost always under the radar with Luxembourg somewhere in the story as a middle man.

Investing for peace

Times have changed for good, I hope: founded by Jonathan Medved, OurCrowd is a global leader in equity crowdfunding and is Israel’s most active venture investor with $1.5B of committed funding. 

OurCrowd plans on identifying and supporting UAE-based startups seeking growth and development in Israel, as well as leveraging its diverse portfolio of 220 companies in the UAE.

The model of crowdfunding for equity means that individuals can invest in “peace” with real money, with as little as $50,000 USD. Regular venture firms won’t accept less than $1 million USD to enter a deal. 

While individual investors may not have a lot to say about how the investments are used, they can voice their interest in a portfolio that is well balanced and suggest businesses meet sustainability goals, which are mostly absent in Israeli companies. 

Phoenix in Dubai, led by Al Naboodah, will serve as an investment platform for individuals and family offices located in the Gulf seeking opportunities to invest in Israeli tech. Phoenix will enable investors to access OurCrowd’s tech investment opportunities in Agriculture, Medtech, AI and robotics. 

Al Naboodah told the Financial Times: “The commodity-fuelled excess financial capital of the UAE fits well with Israel’s surplus technology and innovation. This will accelerate investing in opportunities both in Israel and the UAE.” 

Medved said: “The signing of OurCrowd’s first MOU in the UAE less than a month after formal normalization between the UAE and Israel shows our deep commitment to building relationships, and growing business in the UAE and beyond.”

The better known portfolio companies taken on by OurCrowd include the data-protection company BioCatch, the smart irrigation company CropX, and the cyber intelligence company Sixgill. 

OurCrowd cleantech companies suited for business in Dubai?

We reached out to Medved and Leah Stern from his team and they suggested these OurCrowd portfolio companies as potential businesses suited for expansion in the UAE: 

Enverid cleans a building’s indoor air at the molecular level, enabling the building to use far less outside air ventilation while improving indoor air quality. 

Ripple: the reduction of greenhouse gases by replacement of dairy with plant based milk, made from peas. Israel is going wild with food startups right now. This vegan cheesemaker is eyeing an IPO.

Skytran: Urban mobility solution via green flying pods on elevated rails. A little too modern for Israel right now, but perhaps Dubai is a better fit?

Juganu installs proprietary street lights maximizing energy efficiency and lighting stability. 

ClimaCell is a hyper-local weather intelligence platform, which uses the Weather-Of-Things to predict the weather. This is combined with air quality data that they collect as well in order to help companies decide if it is better to introduce outside air into the office at a certain time, or circulate the indoor air instead, on a hyper-local level.

What’s the big deal about crowd funding for angels?

A group of people investing increments in as little as $50 to $100K in a new company was always for the realm of angels, but risk-averse investors in the US wanted to get involved in Israeli startups. They didn’t want to buy Israeli bonds from the time of their grandparents.

I saw it starting in the mid-2000s when there was a frantic urge to invest in Israeli cleantech companies, solar and water specifically, with virtually no mechanism to help investors access deals without significant in pocket funds and savvy.

Investors were rushing into Israel coming to Tel Aviv looking for ways to get intel before the next exit. They knew something was brewing in Israel since M Systems and Mirabilis (ICQ) exited and made millionaires from engineering geeks, many with ties to the army.

The world sensed that Israel was brewing something big and they were right: since Israel has had exits in multiples of billions including Mobileye: $15.3 billion (2017), Frutarom (with a terrible environmental track record) $7 billion (2018), NDS $5 billion (2012) and Chromatis $4.7 billion (2000).

Back to the early 2010s and crowdfunding was just starting to make sense. People were sharing office spaces (though local hubs) and then living quarters (Couchsurfing) and the whole idea of social investments was starting to catch on. 

We heard about bands turning to the crowd to produce a music video or Kickstarter for a product and not long after, along with passing regulatory hurdles, crowdfunding for investors became a thing. This was a desirable model for American Jews to be able to support Israel without just pouring philanthropic aid into the country carte blanche.

By 2013 the Israeli-American investor Jonathan Medved stepped up to the plate and started a fund called OurCrowd that would allow almost any sized investor to own a piece of the Israeli startup pie. This excited Jews in America and it it gave new wind of support for young entrepreneurs in Israel that they they could go beyond the expensive government-funded incubator model and get funding without giving away more than half of their business in equity.

Medved is a marketing genius who probably knew all this. He is also known as a business ambassador – one who has collected some of the best to join his tribe from the media, tech and investment world.

____

Have something to say? A cleantech company you want to pitch or an idea for improving sustainability goals in the Middle East? Email me: Karin@greenprophet.com

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Ever see the video Follow the Frog? We posted it below so you can have a good laugh before you go out and embark on a poor career choice as you save the world. While the video does an excellent job of branding products for the Rainforest Alliance Certified mark, it does a less good job of conveying the real jobs that are available to you that can and will make an impact in changing the world. Like the jobs in the solar industry; like the jobs available in the Middle East waiting to be filled by skilled people like you. The job we offer below does require some years of experience, there is no time like the present in building your experience toward the direction of the sun.

Consider working in Dubai for world-changing solar energy projects: Beresford Wilson & Partners is looking for a solar sales executive to run its mission of creating energy efficient solar energy installations in the Middle East. Salaries to live in Dubai will be competitive, and it’s a great way to secure a job in an industry that is only growing steeply upward. You will need to have some experience in the industry and some experience already working in the United Arab Emirates.

Not long ago Dubai was relatively undeveloped. Today it has dreams of bringing on the best and most novel sustainability solutions for the region, stewarding them in and implementing them across the entire United Arab Emirates. Foreigners are pretty free to live their own lives, and there are large communities of English-speakers and expats from your country in town so you won’t feel lonely as you adjust to the new culture which you can be a part of shaping.

The company is looking for a key Account Manager to join their growing sales team. And your job will be to develop the solar energy market in the United Arab Emirates and Jordan.

Jordan is very much in need of renewable energy. With ample sun, it is still one of the poorest countries in the world, and new energy initiatives can jumpstart ambitious projects the nation has in areas like water security. Read about Solar Mamas for some grassroots background. And see this project on hydroponics.

The sales job will involve promoting and selling products related to solar inverters. Inverters are key for increasing efficiency and output of solar panels and installations. Even if you are yet to be experienced in solar, it’s an industry that is easy to learn, and easy to fall in love with.  The company is also working closely with the SHAMS initiative in Abu Dhabi. It is one of the world’s largest solar concentration plants, and it is diversifying the UAE’s Energy Portfolio.

If you want the sales job you will need:

• 5+ years working in the UAE with a Solar Manufacturer
• Proven sales record
• Fantastic market knowledge
• Extensive network with EPC, Developers, Engineering Consultants, ETC

MORE ABOUT THE SALES JOB HERE

We all want to see a world move away from oil. And no better place to make your impact than in the Middle East, a region still so reliant on the power of oil.

Now watch the video below and have a laugh.

Have a Good Job you want to share? One for the environment, the energy industry, water, animals, peace in the Middle East? Send us more to goodjob@greenprophet.com. We aim to feature 5 great jobs a week.

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Solar Impulse 2 took off from Abu Dhabi in the United Arab Emirates early on Monday morning and has already completed its first 250-mile (400km) leg, landing in the Omani capital of Muscat. It’s now on its way to India.

Two pilots are attempting the potentially record-breaking voyage. The journey will take several months to complete, and if successful the plane will be the first to fly round the world without any fuel.

Solar Impulse founders André Borschberg and Bertrand Piccard will take it in turns to fly the plane, swapping at each stop. Their 5,000 km (22,000 miles) journey has been organized to garner international attention on sustainable energy.

After stopping in India, the plane will head to Myanmar and China before flying over the Pacific Ocean and across the United States and southern Europe to eventually arrive back in Abu Dhabi in approximately five months.

The plane weighs around the same size as a family car (2,300 kg, 5,100 pounds,) yet it actually has a wingspan as wide as the largest passenger airliner.

The Solar Impulse website states that: “Solar Impulse wants to mobilize public enthusiasm in favor of technologies that will allow decreased dependence on fossil fuels, and induce positive emotions about renewable energies.” Well, they’ve got off to a flying that with that!

The project has been over 12 years in the making, with research, tests and development. The Solar Impulse team is made up of around 90 people, including engineers, technicians and mission controllers. It also has about 100 partners and advisers to advise on the project, financially and technologically.

Images courtesy of solarimpulse.com

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Sharm el-Sheikh already relies on solar power for 70 percent of its lighting, but the Egyptian government wants to improve this figure even more.

The Governor of South Sinai, Khaled Fouda, has indicated that Sharm el-Sheikh hopes to be fully powered by solar energy within the next three months.

Last week Egypt launched a new power plant generated by solar energy in Siwa in the  west of the country.

The move towards alternative energy sources has been a growing trend by the Egyptian government due to an energy shortfall within the country.

Egypt has been facing an energy crisis for years. It aims to build solar power plants and wind energy facilities within the next three years, with a capacity of generating 4,300 megawatts.

Egypt has also signed an agreement with Russia that will assist in the building of a nuclear power plant.

Sharm el-Sheikh will host a major investment summit from 13th-15th March with hopes that there will be investments to help Egypt’s economy.

The government recently said that it expects to start signing deals for solar PV projects at the conference.

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