ValU and Karm Solar Collaborate to Launch Electric Vehicle Charging Stations Network in District 5
ValU, the leading financial technology services company in the Middle East and North Africa, announced today the signing of a new cooperation agreement with Karm Solar, a multi-utility company specializing in renewable energy generation and distribution services. The agreement aims to launch a network of electric vehicle charging stations in District 5 through its subsidiary “Karm,” recently launched by Karm Solar.
This partnership aims to promote environmental sustainability practices by providing a network of electric vehicle charging stations in District 5, including the residential complex. Karm, the platform of Karm Solar specializing in operating the infrastructure for electric vehicle charging, is investing to enhance the transition to green and electric transportation.
Commenting on this partnership, Walid Hassouna, CEO of ValU, stated that the company is committed to supporting the development of sustainable communities by providing customers with secure and easy-to-use financial solutions. Hassouna pointed out that the extended partnership with Karm Solar will result in the sustainable expansion of electric vehicle charging stations in one of the most promising residential, entertainment, and commercial projects in East Cairo. Hassouna emphasized the importance of this partnership in facilitating the provision of solar energy technology to the residents of the District 5 residential complex, promoting the adoption of environmentally friendly practices, and reducing carbon emissions.
For his part, Ahmed Zahran, CEO of Karm Solar, expressed his delight with this cooperation, affirming the company’s commitment to leading the advancement of emerging technologies to build a smarter and more sustainable future. Zahran added that the collaboration with ValU would enhance their ability to expand their operations in a new and developed community like District 5, aligning with their primary mission of maximizing positive impact on communities across Egypt and North Africa.
It is worth mentioning that this partnership aligns with the commitment of both parties to bring about positive change and create sustainable value that considers social and environmental standards in surrounding communities. This will be achieved by leveraging ValU’s extensive experience in financial technology services and Karm Solar’s innovative renewable energy solutions, accelerating the transition to a more sustainable future. Recently, Egypt has witnessed a significant increase in demand for electric vehicle licenses, with approximately 13,192 electric vehicles licensed to date.
