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  2. MISA grants investment license to Mexico’s Zeomex

MISA grants investment license to Mexico’s Zeomex

NOHA.GAD
Jun 5, 2024
MISA grants license to Mexico’s Zeomex to invest SAR 200 million in the Kingdom

Riyadh - Sharikat Mubasher: Saudi Arabia’s Ministry of Investment (MISA) granted the investment license to Mexico’s Zeomex to invest SAR 200 million to localize manufacturing zeolite-based products for the water industry, according to the ministry’s statement.

This move aligns with Saudi Vision 2030’s goals of diversifying the national economy.

MISA also witnessed the signing of a joint venture framework agreement to establish a Saudi-Mexican joint venture (JV), Zeomex Middle East.

The new JV underpins Mexico’s efforts to explore potential investment opportunities and expand cooperation with Saudi Arabia.

Zeolite is a superior water purification material used as a sustainable and natural treatment solution for drinking water, greywater, and wastewater treatment. It can be produced synthetically with a heated solution of alumina, silica, and sodium hydroxide.

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Vitalls secures $1.5 mn investment from EST Growmore
Abu Dhabi - Sharikat Mubasher: Vitalls, an AI-powered digital health passport platform headquartered in Abu Dhabi, secured a $1.5 million investment from EST Growmore, EST Group's investment arm, as part of its seed round.Both parties signed the investment agreement at the Abu Dhabi Future Health Summit, under which EST Growmore may invest an additional $1 million in Vitalls, the health platform announced today.The agreement was signed by Mehdi Bouchenak, Founder of Vitalls, and Sindhu Bhaskar, Chairman of EST Group.Beyond capital, the partnership opens access to EST Growmore's investment ecosystem, including group telecom and healthcare portfolio companies. The two companies will explore collaboration opportunities across distribution, partnerships, and product development to accelerate Vitalls' growth regionally and globally.Commenting on the agreement, Bouchenak said: “This agreement is a major step for Vitalls. More than the capital, it confirms that the problem we set out to solve is real and urgent. When an investor of Dr. Sindhu Bhaskar's experience commits after looking closely at what we have built, it tells us the need is understood. Patient-owned health records are no longer a niche idea. They are where healthcare is going."Moreover, the investment reflects a shared conviction that people should own their health history and carry it with them wherever they live, work, or travel.

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