The UAE has unveiled the XPRIZE Water Scarcity competition, which has a total prize purse of $119 million, to encourage global innovators to focus on transforming the reliability, affordability and sustainability of water desalination technologies.
The five-year contest was announced following a partnership between the Mohamed bin Zayed Water Initiative and XPRIZE valued at $150 million in investments.
Greenlighted by UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the Mohamed bin Zayed Water Initiative aims to prioritise water scarcity globally by advancing sustainable technological solutions to mitigate its threats to people, businesses, and communities.
"The solutions that currently exist to address the water scarcity crisis are not sufficient to prevent a range of unacceptable scenarios from occurring," said Sheikh Abdullah bin Zayed Al Nahyan, Foreign Minister and Chairman of the Mohamed bin Zayed Water Initiative.
"New solutions are therefore urgently required, and the Mohamed bin Zayed Water Initiative is committed to collaborating with stakeholders from around the world to uncover these new ideas, to prove their viability, and to bring them to fruition as efficiently as possible."
The Mohamed bin Zayed Water Initiative is part of broader efforts led by the UAE to tackle global water scarcity that poses a growing threat, impacting billions annually due to various factors like population growth, infrastructure challenges, and climate change.
UAE President witnesses partnership announcement between Mohamed bin Zayed Water Initiative and XPRIZE#WamNews https://t.co/3lPv9A0Hhh pic.twitter.com/MhO6IvC6PV
— WAM English (@WAMNEWS_ENG) March 1, 2024
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