Connect with us

Published

3 years ago

on

A man dressed in a thawb walks past Dassault Falcon executive jets, Dubai, United Arab Emirates

Leonid Faerberg | Sopa Images | Lightrocket | Getty Images

The organizers of the Investopia x Salt conference in Abu Dhabi — the brainchild of American financier and one-time White House press secretary Anthony Scaramucci and Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum — expected to see 1,000 guests over its two-day event in early March. Instead, it got 2,500. 

“We’re a little overwhelmed, but it’s a great sign,” one of the organizers told CNBC. Some others were annoyed. “It’s too many people. Everyone is coming to the Gulf now begging for money. It’s embarrassing,” one Dubai-based fund manager said. Both sources declined to be named due to professional restrictions. 

related investing news

Merrill financial advisor survey shows they love cash and bonds, but hate stocks

CNBC Pro

13 hours ago

That oil-rich Gulf states have a lot of money to spend isn’t new. The region’s 10 largest sovereign wealth funds combined manage nearly $4 trillion, according to the Sovereign Wealth Fund Institute. That’s more than the gross domestic product of France or the U.K. — and it doesn’t include private money.

But the influx of foreign institutional investors — and visible interest from venture capitalists and startup founders in advanced sectors like fintech, digital transformation and renewable energy technology — shows a level of sophistication that’s being noticed now more than ever, industry players say.

“Investment used to only flow from the Gulf outward. Now it’s going both ways; institutional investors are coming and investing here,” Marc Nassim, managing director at Dubai-based investment bank Awad Capital, told CNBC.    

The regional investors, especially the sovereign funds but also the families, are now much more sophisticated than before.

Marc Nassim

Managing director, Awad Capital

“The Middle East feels more stable than Europe does right now,” Stephen Heller, founding partner at Germany-based AlphaQ Venture Capital, told CNBC. “Europe’s security issues, economic inequality are getting worse … meanwhile, the Gulf has its s— together.” Heller’s fund of funds, which invests in megatrends like climate technology, infrastructure, health and fintech, recently opened its first Middle Eastern office in Abu Dhabi.

“There’s an entrepreneurial energy in the UAE and Saudi Arabia today,” Heller said. “I see the potential because you have technically infinite capital, and if you have entrepreneurs coming here, you can have huge outcomes.”

Follow the capital

As oil prices made a roaring comeback in the last two years, the Gulf’s public wealth funds went on a spending spree. The top five regional funds in terms of spending in the last year — Abu Dhabi’s ADIA, ADQ and Mubadala, Saudi Arabia’s PIF and Qatar’s QIA — deployed a combined total of more than $73 billion in 2022 alone, according to sovereign wealth fund tracker Global SWF. 

Abu Dhabi city skyline, United Arab Emirates.

kasto80 | iStock | Getty Images

Meanwhile, the value of sovereign wealth funds’ assets globally dropped from $11.5 trillion to $10.6 trillion between 2021 and 2022, Global SWF reported, and those held by public pension funds also dropped amid a dramatic downturn in stock and bond markets.

“Five out of the ten most active investors hail from the Middle East,” and ADIA is currently the “world’s largest allocator to hedge funds,” Global SWF’s 2023 report wrote. It added that GCC sovereign wealth funds “played an important role in 2020 during the Covid-19 pandemic and now again in 2022 during times of financial distress.” 

So it’s an understatement to say that foreign demand is high. “A lot of places in the world are low on capital – Western institutional funds are kind of hamstrung. And this region has a lot of capital. Our phones are ringing off the hook,” one manager from a UAE investment fund said, declining to be named due to professional restrictions. 

No longer ‘dumb money’

But while many overseas companies have long seen the Gulf as a source of “dumb money,” some local investment managers said – referring to the stereotype of oil-rich sheikhdoms throwing cash at whoever wants it – investment from the region has become much more sophisticated, employing deeper due diligence and being more selective than in past years.

“The regional investors, especially the sovereign funds but also the families, are now much more sophisticated than before,” Awad Capital’s Nassim said. “They are much more diligent than before in terms of who they write the check to.” 

“Before it was much easier to come and say, ‘I’m a fund manager from San Francisco, please give me a couple million’. Now, not only are they more sophisticated but there are far more funds from all over the world – the U.S., Latin America, from Europe, Southeast Asia – coming here to raise capital. I think that a very small minority of them will be able to take money from the region – they are much more selective than before.”

A screen broadcasts Khaldoon Al Mubarak, chief executive officer of Mubadala Investment Co., during a session at the Future Investment Initiative (FII) conference in Riyadh, Saudi Arabia, on Tuesday, Oct. 25, 2022.

Tasneem Alsultan | Bloomberg | Getty Images

In the UAE in particular, liberalizing reforms, a much-praised handling of the Covid-19 pandemic and a willingness to do business with anyone — including countries like Israel and Russia – have enhanced its image to foreign investors. In Saudi Arabia, financiers are attracted to historic reforms and a massive growth market of nearly 40 million people, some 70% of whom are below the age of 34. 

The money from the GCC funds still overwhelmingly goes to developed markets, in particular the U.S. and Europe. Priority sectors include energy, renewables, climate technology, biotech, agri-tech and digital transformation, fund managers say. 

Like any commodity-related economic boom, however, fortunes are subject to change – it was not so long ago that the pandemic pushed oil prices to multi-decade lows, forcing Gulf governments to reign in spending and introduce new taxes. Saudi Arabia and the UAE in particular are investing heavily in diversification, with a view to the long term. 

“The music would stop if [the price of] oil goes down in a way that some SWFs are forced to use their reserves to help governments shore up their fiscal positions – very unlikely – or geopolitical risk” such as war or uprisings, Nassim said.

“If oil goes down, the surplus generated and which is usually allocated to the SWFs would obviously reduce, and that would force them to reduce their investments and limit them to assets that generate higher returns,” he added, though noted that not all SWFs have the same mandate when it comes to investment strategy.

For those companies seeking investment from the deep pockets of the Middle East, they are wise to do so while the music is playing.

Related Topics:
Continue Reading

Environment

Rad Power expands e-bike Black Friday Sale with more savings + lows from $999, Anker smart security devices 50% off, GE appliance, more

Published

10 hours ago

on

November 27, 2025

By

Rad Power expands e-bike Black Friday Sale with more savings + lows from 9, Anker smart security devices 50% off, GE appliance, more


Happy Thanksgiving, everyone! To celebrate the day, we’ve got another jam-packed edition of Green Deals, with plenty more that you can browse in our official Black Friday Green Deals hub here, encompassing all the sales/deals we’ve collected over the last few weeks that are still alive and well. Headlining today’s features is Rad Power’s expanded Black Friday Sale, which is seeing increased prices to new lows, like the RadExpand 5 Plus Folding e-bike at $1,399, among others. From there, we also have a large collection of Anker eufy solar cams, and other smart security devices starting from $50, as well as GE’s Profile Smart Electric Ventless Heat Pump Washer/Dryer Combo at $2,000, the next EcoFlow 48-hour flash sale, Aiper’s robot pool cleaners, smart composters, hydroponic gardens, and so much more waiting for you below. And don’t forget about the hangover deals that are collected together at the bottom of the page (and also in our Green Deals hub), like yesterday’s first post-launch price cuts on the Heybike Mars 3.0 and Ranger 3.0 Pro e-bikes, the Tesla universal EV charger retaining a $50 discount, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Rad Power expands Black Friday e-bike lineup and increases savings to new lows starting from $999

Rad Power Bikes has expanded its Black Friday Sale with additional offers while retaining the previous lineup of new lows and more. Among the bunch, we’re seeing the biggest price cut yet on the RadExpand 5 Plus Folding e-bike at $1,399 shipped. Coming down from the full $1,899 price tag that it has spent much of 2025 keeping to, we’ve mostly seen a mix of free bundle offers (without price cuts) and occasional discounts as low as $1,699. Now, for Black Friday, this newer model is getting a larger-than-ever $500 markdown to a new all-time low price. Head below to learn more about it and the expanded/increased Rad Power Black Friday savings.

The Rad Power RadExpand 5 Plus comes as the latest iteration of the brand’s space-saving, folding series, able to condense down to 29 inches high by 25 inches wide by 41 inches long to fit inside closets, car trunks, on RVs, and more. The 750W rear hub motor is paired with a 720Wh battery to carry you for up to 60+ miles with its five PAS levels activated at up to 20 MPH top speeds (supported by a torque sensor). Among its updated features, you’ll be getting a hydraulic suspension fork alongside hydraulic disc brakes for smoother rides and greater stopping power. There’s also the puncture-resistant tires, fenders to go over top of them, a rear cargo rack for added versatility, an LED headlight, a brake-activated taillight, a Shimano 7-speed derailleur, a color display with a USB-C port, and more.

Advertisement – scroll for more content

With the brand going through financial turmoil, now’s your chance to cash in on some of Rad Power’s deep clearance-meets-Black Friday savings.

Rad Power’s full Black Friday Sale lineup:

anker eufy solar security camera outside in rain

Anker’s eufy solar security cameras, smart locks, more get up to 50% Black Friday savings to new lows starting from $50

With Amazon’s Black Friday Week Sale in full momentum, Anker’s official eufy storefront is offering up to 50% discounts across its lineup of smart security devices, and the best rate yet on the SoloCam S220 Wireless Solar Security Camera that starts from $49.99 shipped, while its 4-camera package is a great get for multi-point coverage at $179.99 shipped. Normally going for $100 without any discounts, we’ve seen the cost get taken down as low as $60 previously in the year, with this holiday deal bringing even more savings to the mix by cutting the price in half. You’ll save $50 off the going rate for a 50% markdown on the single-cam package, while the 4-camera kit is seeing a 36% cut of $100 – dropping both options to new all-time lows.

If you want to learn more about this model, or check out the full lineup of deals on other cameras, video doorbells, smart locks, and more – be sure to check out our original coverage of these Black Friday deals here.

woman doing laundry with GE 2-in-1 washer dryer

GE’s 2-in-1 Profile smart ventless electric washer/dryer combo with heat pump at $2,000 (Reg. $2,700)

As part of its Black Friday Appliance Sale, Best Buy is offering the GE Profile 4.8 Cubic-Foot Smart Combo Electric Washer & Dryer with Ventless Heat Pump at $1,999.99 shipped. While it carries a $2,999 MSRP direct from the brand, at Best Buy we normally see it starting lower at $2,700, with the discounts we’ve spotted over the year regularly dropping the rate between $2,200 and $2,000, with things having gone as low as $1,750 once this year back during July’s Prime Day event. You’re still looking at a solid $700 markdown off the going rate (and $999 off the MSRP) to land at the third-lowest price we have tracked. There are also alternate options in Samsung’s massive Black Friday Appliance Sale here to weigh your options.

If you want to learn more about this specific model, be sure to check out our original coverage of these savings here.

ecoflow delta pro power station outside with extra battery and solar panel
banner for Aiper robot pool cleaner black friday sale
Govee smart electric composter being used to make soil for garden
AeroGarden Harvest Elite 360 indoor hydroponic system

Best Fall EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.


Add Electrek as a preferred source on Google
Add Electrek as a preferred source on Google

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Tesla faces class action over Powerwall recall that leaves people with bricked batteries

Published

11 hours ago

on

November 27, 2025

By

Tesla faces class action over Powerwall recall that leaves people with bricked batteries

Sunrun residential solar battery storage

Image: Sunrun

Tesla’s poorly handled Powerwall 2 recall is now turning into a potential class action lawsuit over for leaving people with bricked batteries until Tesla replaces them.

We previously reported on Tesla recalling thousands of Powerwall 2 units built between 2020 and 2022 due to a fire risk. We noted several problems with it, as it took months between the recall in Australia and the US, despite the units being identical and affected by the same issue.

We also noted that Tesla has been aware of the problems for years and tried to sneakily replace some units rather than doing a broader recall.

Now, some affected Powerwall owners are also taking issue with how Tesla is handling the recall.

Advertisement – scroll for more content

Tesla’s ability to address issues via over-the-air (OTA) software updates is usually a massive advantage, but not everyone is happy with how Tesla is using its OTA capability in this case.

According to a new class action filing in the Middle District of Florida, Jacksonville Division, that “fix” has left owners with expensive wall decorations instead of backup power systems.

The lawsuit, Brown v. Tesla, Inc., was filed yesterday. It alleges that rather than providing swift replacements for the potentially dangerous hardware, Tesla used its software backdoor to effectively shut down customer installations.

From the complaint:

“Rather than immediately providing full refunds or prompt replacement with non-defective units, Tesla has remotely accessed affected Powerwall 2 systems and discharged or limited their battery charge to near-zero levels to reduce the risk of overheating.”

The result, according to the filing, is that many owners have been “deprived of the core functions for which they purchased Powerwall 2, including backup power and energy storage.”

Imagine paying upwards of $8,000 for peace of mind during a grid outage, only to find out Tesla remotely drained your backup battery to 0% because it might otherwise catch fire.

The lawsuit further alleges that the actual physical replacement process is dragging out. The complaint argues that the replacement process “has been slow, burdensome, and incomplete,” leading to “lengthy periods” where consumers have partially or fully disabled units.

The core legal argument here is about merchantability. The plaintiffs argue that a home energy storage system that must be remotely “bricked” to prevent it from burning down a house is clearly “not fit for its ordinary purpose as a safe and reliable residential battery.”

Tesla has not yet commented on the suit or provided a timeline for when all affected customers will receive physical replacements.

Electrek’s Take

Ever since the first recall in Australia came out, I knew this thing would snowball into something much bigger.

In the Australian recall, Tesla noted that it was “considering compensating people” for revenue lost or higher utility bills due to Powerwalls being down for an extended period.

It looks like this class action lawsuit is trying to ensure that Tesla is not just considering it but actually does the right thing and compensates owners.

Tesla has up to 10,000 Powerwalls to replace in the US alone. We understand that this is a tremendously difficult task and it will take some time, but that’s not the fault of the customers and Tesla needs to own up to it.

Leaving customers in limbo with a dead battery on the wall, especially as we head into winter storm season in many parts of the US, is a massive customer service failure. Tesla needs to accelerate the replacement program and prioritize these recall replacements over new sales immediately.


Add Electrek as a preferred source on Google
Add Electrek as a preferred source on Google

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Diesel? Gas? New Holland hybrid uses METHANE to charge its batteries

Published

15 hours ago

on

November 27, 2025

By

Diesel? Gas? New Holland hybrid uses METHANE to charge its batteries

New Holland Reveals Methane Hybrid Telehandler Prototype

The latest hybrid telehandler from New Holland packs a range-extending combustion engine to boost its battery power during longer shifts – but it doesn’t run on gas or diesel. Instead, this farm-friendly machine is built to run on METHANE.

By collecting pig, cow, or poultry waste (poop), silage waste (corn husks and grass clippings), and food waste from composting and putting into a manure digester, farmers can generate valuable biogas – a renewable, low-carbon fuel that can be burned for heat, electricity, or used as fuel. And because large farming operations can produce huge amounts of biogas at an incredibly low cost compared to conventional grid and fuel costs, any machine that can run on biogas is going to have a real total cost of ownership (TCO) advantage.

Biogas generator

Manure digester, via Ag Marketing Resource Center.

CASE and New Holland (collectively, CNH) understands its customers’ desire to put that biogas to good use. They also understand that nothing is quite as efficient as battery-electric power, though; but big farms have weird duty cycles: 4-6 hour shifts most of the year, then critical, un-skippable, non-negotiable round-the-clock running during harvest.

That need to run 24 hour shifts limits the appeal of pure electric machines, and has led to companies like ZQUIP developing power-agnostic modules that swap-out, power tool-style, to keep the machines going. With its new methane hybrid, New Holland is going a more recognizable EREV and hybrid route.

Advertisement – scroll for more content

“With this prototype, New Holland shows its continuous commitment to the ‘Clean Energy Leader‘ strategy, building on our leadership in alternative fuel machines,” says Marco Gerbi, New Holland T4 and T5 tractor, loader and telehandler product management. “Our aim is to help our customers boost farm productivity and profitability by broadening our range of alternative fuel machines that do not compromise efficiency or productivity yet help to minimize agriculture’s carbon footprint.”

Primarily driven by a 70 kWh lithium-ion battery, the telehandler uses a methane-fueled version of Fiat Powertrain’s four-cylinder F28 engine as a range-extending backup whenever jobs demand more uptime. On the energy stored in the battery alone, New Holland says the machine can handle a full day’s worth of typical farm work — roughly a “350-day duty cycle,” and it can recharge from the grid, a biogas generator, or even rooftop (barntop?) solar.

It’s still just a prototype, but New Holland claims the hybrid setup cuts fuel use by up to 70% compared to a conventional diesel telehandler while delivering 30% better performance and uptime for its operators.

No word yet on availability and pricing.

SOURCE | IMAGES: CNH, via Equipment World.

If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.


Add Electrek as a preferred source on Google
Add Electrek as a preferred source on Google

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending