Abu Dhabi's Masdar Initiative Breaks Ground on City of the Future

ABU DHABI, United Arab Emirates, Feb 5 /PRNewswire/ -- On February 9, 2008 at 6:30 p.m. in Abu Dhabi, United Arab Emirates (9:30AM EST/2:30PM GMT), the Masdar Initiative will break ground on Masdar City, the world's first zero-carbon, zero-waste, car-free city, powered entirely by renewable energy. Leading architects and engineers have come together from around the world to design Masdar City, which will save more than $2 billion of oil over 25 years and serve as a benchmark for the next generation of green design.

During his keynote address, Masdar's CEO Dr. Sultan Al Jaber will announce previously unreleased details on the construction and financing of Masdar City. The event will be culminated by the laying of a "cornerstone." The entire groundbreaking will be offset by solar power reserves produced by Masdar's photovoltaic testing facilities.

This groundbreaking is the first physical step towards creating the home of the Masdar Initiative. The first phase of the city's seven-phase plan is the development of The Masdar Institute of Science and Technology (MIST) -- the world's only graduate school dedicated to renewable energy -- developed in collaboration with MIT and scheduled to open in 2009.

    WHAT:     Groundbreaking Ceremony for Masdar City
    WHEN:     Saturday, February 9th at 6:30 p.m.
    WHERE:    Masdar City location, Abu Dhabi, United Arab Emirates
              (map available upon request)
    WHO:      Masdar CEO Dr. Sultan Al Jaber, Masdar's directors and
              Abu Dhabi officials

Masdar (www.masdaruae.com) is a multi-faceted, multi-billion dollar investment in renewable and alternative energy and clean technology. In January 2008, Abu Dhabi announced an initial investment of $15 billion in Masdar, the largest single government investment of its kind. Masdar is helping to explore, develop and commercialize future energy sources.

Masdar City will become the global center for future energy, and companies and individuals from around the world will operate from the city in their quest to develop sustainable, secure and equitable energy solutions.

For more information or to schedule live interviews on-site or via satellite, please contact:

    In the Americas:
    Mark Grundy, +1 212 819 4882, mark.grundy@edelman.com
    Michael Iacovella, +1 212 704 8254, michael.iacovella@edelman.com

    In Europe:
    Laura Misselbrook, +44 (0)20 7344 1285, laura.misselbrook@edelman.com

    In the MENA Region:
    Mohammed Kharroubi, +971 50 428 9678, m.kharroubi@asdaa.com

For b-roll, renderings, fly-through animation or stills, please visit: http://thenewsmarket.com/masdar.