DUBAI, 8th October, 2026 (WAM) -- The Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative launched by the Ministry of Finance to support the UAE's innovation and entrepreneurship ecosystem, has announced an AED2 million credit guarantee for Wisewell, a UAE-based water technology company specialising in smart water purification systems.The guarantee will support Wisewell's capital investment, business development, research and innovation activities, strengthening its capabilities in Internet of Things (IoT)-enabled water purification technology.Offering a smart and sustainable alternative to single-use plastic products, Wisewell's systems purify water at the source and provide real-time data, enabling households and businesses to monitor water quality, environmental impact and consumption.Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector at the Ministry of Finance and the Ministry's representative at MBRIF, said, "The Mohammed Bin Rashid Innovation Fund remains committed to supporting innovative companies that contribute to the UAE's future-focused and sustainability-driven economy. Wisewell represents a strong example of a home-grown UAE company leveraging advanced technology to address critical environmental and public health challenges through sustainable solutions."By supporting companies such as Wisewell in scaling their operations and accelerating innovation, we continue to strengthen the UAE's position as a global hub for innovation and sustainable development."Sami Khoreibi, Founder of Wisewell, said, "The support from MBRIF marks an important milestone in Wisewell's journey as we continue to transform how households and businesses access clean drinking water. We recognise the challenges associated with bottled water, including delivery, plastic waste, and unnecessary clutter."This funding lets us replace all three faster and keep building it here. This partnership enables us to accelerate our research and development efforts, expand our operational capabilities, and continue delivering measurable environmental and health benefits while continuing to build a UAE-grown technology platform with global potential."To date, Wisewell has prevented more than 17.4 million single-use plastic bottles from reaching landfills. This impact has strengthened the company's recognition, including its selection for the Ministry of Economy's Future100 initiative and its inclusion among the top 20 finalists in Majra's Sustainable Impact Challenge 2025.As part of MBRIF's wider support for innovative companies in the UAE, the Guarantee Scheme enables high-potential businesses to access financing without giving up equity, helping them invest in technology, strengthen operations and achieve sustainable growth.


(Kaynak: WAM.ae)