Dubai-Based Fragrance Delivery Technologies Secures US$1.96 Million Guarantee From The Mohammed Bin Rashid Innovation Fund

The Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative launched by the UAE Ministry of Finance, has extended an AED7.2 million (US$1.96 million) guarantee to Dubai-based eco-friendly air freshener firm Fragrance Delivery Technologies (FDT) to scale its manufacturing footprint in the UAE. 

Founded by Hydros Jassem in the UAE in 2008, FDT manufactures non-aerosol, continuous fragrance and odor control systems powered by oxygen fuel cell technology. With 95 percent of its workforce based in the UAE and more than 90 percent of its products exported, FDT reflects the country’s “Made in UAE” manufacturing activity. 

The new capital is set to support the upgrade of FDT’s Jebel Ali Free Zone (JAFZA) facility with automation, enabling the integration of advanced equipment to improve production efficiency and scalability in response to growing demand for its air care solutions, while supporting its transition toward Industry 4.0 standards and the UAE’s manufacturing sector. 

In a statement, Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector at the UAE Ministry of Finance, Chief Innovation Officer, and the Ministry’s representative at MBRIF, said, "The Mohammed Bin Rashid Innovation Fund plays a strategic role in advancing the UAE’s National Innovation Strategy and long-term vision to build a competitive, knowledge-based economy. By enabling innovators such as FDT to adopt Industry 4.0 technologies, we aim to strengthen our national industrial capabilities and establish strong foundations for a sustainable future economy. Our goal is to accelerate the transition from research and innovation to high-value economic output and support the growth of export-oriented, future-ready enterprises.”  

Jassem, who’s also the CEO of FDT, added, "After a decade of dedicated research and development to perfect our oxygen fuel cell technology, the support from MBRIF marks a pivotal chapter in our journey. It enables us to transition to a highly efficient automated manufacturing model, enhancing our global competitiveness by offering sustainable alternatives to harmful aerosols. This partnership enables us to meet the growing international demand for sustainable air care while keeping our core R&D and manufacturing roots firmly planted in the UAE." 

The guarantee FDT has secured has been provided under MBRIF’s Guarantee Scheme, which offers debt financing to companies without requiring equity transfer. Alongside MBRIF’s Innovation Accelerator Program, this scheme supports companies and contributes to economic diversification and the development of the UAE economy.  

Pictured in the lead image is FDT founder Hydros Jassem. Image courtesy FDT.