Dana Energy Signs Strategic Memorandum with Isfahan Science and Technology Town (ISTT) for the Development of Technology and Innovation

 

 

As part of our strategies aimed at supporting innovative businesses and technology development within the country, on August 19, Mr. Mohammad Iravani, along with a group of deputies and executives, including Aidin Khatlan, Hamed Vaziri, Ehsan Nosrat, and Amir Jahani Kia visited Isfahan Science and Technology Town, a research center recognized as the first and pioneering set of growth centers and technology parks in the country.

Within the framework of Dana Energy’s strategies to support innovative businesses and promote technology development inside the country, on August 19, 2023, the Chairman of the Board and the CEO of Dana Investment Company, along with a group of executives, visited the Isfahan Science and Technology Town — recognized as the first and pioneering innovation and technology park in Iran.

Currently, about 700 companies with an annual turnover of about 20 thousand billion Tomans and 9000 personnel are based in Isfahan Science and Technology Town.

After the orientation session and discussion about the potentials of both the industrial park and Dana Energy, the seven companies within the park were visited. These enterprises are actively engaged in diverse domains of the oil and gas and petrochemical sectors, involved in the production of various polymers, hosting a reference laboratory, and manufacturing various valves, compressor parts, mechanical and pneumatic systems. Additionally, they specialize in materials with industrial applications.

Finally, a collaboration agreement was signed between Dana Energy’s Investment Company and Isfahan Scientific and Technology Town. Based on this memorandum, it has been decided that Dana Energy will inform the ISTT of the technological needs of its businesses in related fields. Moreover, leveraging its capabilities, Dana Energy assesses the competent companies recommended by ISTT within the relevant sectors. The company extends support in various forms, including collaborative project identification, investment facilitation, and addressing their requirements. Ensuring market access, creating optimal conditions for product and technology testing, attaining necessary standards, and initiating product procurement are among the primary focal points.

ISTT will also identify and evaluate related startups based on the capacities and needs received from the company and introduces them to Dana Energy based on specific priorities. In this framework, ISTT will attempt to utilize its capacities to support Dana Energy's programs for the development of the innovation ecosystem and to meet the bottleneck and strategic technological needs, for the establishment of Dana Energy's affiliated and subsidiary companies.

The parties also emphasized on holding various events. In addition, based on this memorandum, executive suggestions regarding the establishment of a joint legal entity were also raised and it was decided that the necessary investigations should be carried out by the parties.

It is noteworthy to mention that while exploring the capacities of companies situated within the park, we identified instances of equipment being utilized and imported by these businesses. Through strategic collaboration with innovative, knowledge-based companies, there is a substantial opportunity to achieve cost-effective localization of these equipment, coupled with the advantages derived from such partnerships in the realm of these productions.