Amman, Jordan \u2013 On November 17, 2022, on stage at the MENA ICT Forum, Ibtikar Fund and Architects Contracting Company (Arco) announced their joint investment in Algebra Intelligence, a software development company that has gone to market with TaQTaK, an energy management solution powered by artificial intelligence that includes real-time monitoring, proactive notifications, predictive maintenance, as well as ticketing and reporting.<\/p>\n
\u201cUsing TaQTaK, Algebra\u2019s clients are able to understand their energy usage and wastage and can look to incorporate renewable energy systems, specifically solar energy, to decrease their electricity consumption and lower costs,\u201d explained Ahmad Altawafsheh, Algebra\u2019s CEO.<\/p>\n
TaQTaK\u2019s main features include:<\/p>\n
On average, Algebra\u2019s clients have witnessed energy savings of 25 percent, decrease in maintenance costs of 25 percent, and increase in their energy generation of 20 percent. And, since their launch in July 2021, Algebra\u2019s projects have led to a reduction of 388 tons of carbon dioxide (CO2) emissions, nearly 900,000 kilowatts (kWh) of energy savings, and nearly a 2,000 megawatts (MWh) increase in solar generation.<\/p>\n
\u201cAt Ibtikar, we believe that now is the time to invest in a company like Algebra\u2013 energy costs are increasing, energy consumption is increasing, the cost of solar energy is decreasing, and governments, including in oil-rich countries, are encouraging the use of renewable energy. TaqTak makes it easy for organizations to take control of their energy consumption and integrate solar and other renewables into their energy mix. We are excited to invest in this green-tech company and support them in their expansion,\u201d explained Ambar Amleh, Managing Partner at Ibtikar Fund.<\/p>\n
\u201cWhile demand for energy continues to grow, making it available comes with a responsibility towards our resources. We will continue to strengthen our role as an innovative and integrated energy partner. We have evolved into the Arco organization we are today with an international presence; adding value in markets we operate in. This is our heritage, our legacy \u2013 and our guiding ethos for tomorrow. We are always looking for companies that have a future vision in developing our world to support and this is what we found in Algebra Intelligence\u201d concluded Ashraf Youssef, CEO at ARCO.<\/p>\n
Algebra is currently part of the Taqadam Accelerator by the King Abdullah University of Science and Technology (KAUST) in partnership with Saudi British Bank (SABB) and will utilize this funding round to further perfect its artificial intelligence component and expansion into the Saudi market.<\/p>\n
MEDIA CONTACTS<\/strong><\/p>\n For Algebra Intelligence: For Ibtikar Fund: For Arco: Ibtikar Fund and the Architects Contracting Company are pleased to announce their investment in Algebra Intelligence, a software development firm focused on the energy sector. Amman, Jordan \u2013 On November 17, 2022, on stage at the MENA ICT Forum, Ibtikar Fund and Architects Contracting Company (Arco) announced their joint investment in Algebra Intelligence, a software … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":1033,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/posts\/1102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/comments?post=1102"}],"version-history":[{"count":1,"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/posts\/1102\/revisions"}],"predecessor-version":[{"id":1103,"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/posts\/1102\/revisions\/1103"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/media\/1033"}],"wp:attachment":[{"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/media?parent=1102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/categories?post=1102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/tags?post=1102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nMr. Ahmad Altawafsheh (English and Arabic)
\nChief Executive Officer
\n00962795076216
\nahmad@algebraintelligence.com<\/a><\/p>\n
\nMrs. Ambar Amleh (English)
\nManaging Partner
\n+970-568-501-558
\nambar@ibtikarfund.com<\/a><\/p>\n
\nEngr. Ashraf Youssef (English and Arabic)
\nChief Executive Officer
\n+971503834061
\nayoussef@arco-me.com\u00a0<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"