Mubadala, the Abu Dhabi state investor, is close to reaching a choice on the listing of Emirates Global Aluminium (EGA), according to Khaldoon Khalifa Al Mubarak, Mubadala's Chief Executive Officer. Khaldoon Khalifa Al Mubarak said at a virtual event organized by Bahrain's Investcorp, "We've spent more in 2020 than we've ever done in any year previously." Mubarak refused to say its cost.

He believes Emirates Global Aluminium, which is owned by Mubadala and Dubai Investment Corp, is well-positioned for an IPO. “This company is now a very established enterprise with a great deal of room for expansion. Its cost structure is in the bottom quartile, it’s a great brand,” he said.

In 2018, a plan to list EGA was postponed. Mubarak said Mubadala took a 6- to 8-week break in March 2020 to fully understand the pandemic's implications. “We accelerated our reinvestment in the headwinds sectors and continued to invest in the tailwinds sectors, developing new alliances and concentrating on life sciences, technology, mobility, and digital infrastructure,” he said.

After paying $1.2 billion for a 1.85 % stake in Reliance's digital subsidiary, Jio Platform, in June, Mubadala invested $853 million in the retail division of India's Reliance Industries in October.

“We have spent more in India in 2020 than we have in the previous 19 years combined,” Mubarak said, adding that Mudabala had previously been underweight in India. Mubadala's team is looking at Saudi Aramco's pipeline market, but hasn't decided whether it should invest, and hasn't taken a position on Globalfoundries' IPO in Santa Clara. Inflation, another pandemic, a trade war between the US and China, and also a global correction and economic downturn, according to Mubarak, are all potential future threats.

Mubadala Investment Company recently announced plans to invest as a minority shareholder alongside Apax Partners in Rodenstock Group, the leading manufacturer of premium ophthalmic lenses (Apax Funds). Founded in 1877, Rodenstock is a world leader in prescription lenses for over 140 years with a strong track record of innovative product development and market-leading technologies.

Individually, Mubadala Investment Company has put $75 million into Telegram's 5-year pre-IPO convertible bonds, with Abu Dhabi Catalyst Partners putting another $75 million in. Telegram is the operator of the self-named security-focused social networking site. The companies' strategic partnership is also expected to emerge new cooperation possibilities, advancing Abu Dhabi's ecosystem of creative and tech-enabled businesses.

Mubadala has signed a Memorandum of Understanding with Snam, one of the world's leading energy infrastructure operators, to partner on joint hydrogen investment and growth initiatives. The two companies will conduct a range of assessments as part of the agreement, including technological and economic research projects to investigate possible projects and solutions to encourage and support hydrogen production in the UAE and around the world.

Snam was the first company in Europe to test the infusion of a hydrogen-natural-gas blend into its network, and it is committed to preparing its network to carry growing quantities of hydrogen. The company has established a business unit dedicated solely to searching for innovations and designing new ventures by collaborating with other partners to adopt hydrogen in a variety of industries, including railways and steel. Mubadala entered the Hydrogen Council's Investor Group last year, demonstrating the company's increasing dedication to the emerging market.

Mubadala recently established the Abu Dhabi Hydrogen Alliance with ADNOC and ADQ to establish a significant hydrogen economy for the UAE, and a strategy to increase the country's acceptance and the use of hydrogen in major sectors including utilities, mobility, and industry.

Mubadala has been focusing more on the technology sector in recent years, with a strategy of direct and fund-of-fund investments ranging from early-stage venture capital to expand. It has made a host of global technology investments in category leaders in the last 12 months, including autonomous driving technology company Waymo, AliExpress, and Jio Platforms.

Mubadala invests and associates in industries that are driving economic growth and solving key challenges to advance Abu Dhabi's diversified, globally integrated economy. Revolutionary information and communications technology investments, such as cognitive computing, ICT networks, telecoms, and satellite operations, are an important part of this mandate.

Mubadala launched its Ventures branch in 2017 to collaborate with visionary entrepreneurs and fund creative companies, demonstrating its dedication to innovation and technology. Mubadala Projects manages a range of investment funds in the United States, Europe, and the Middle East. Mubadala's current portfolio includes advanced engineering, semiconductors, metals and mining, pharmaceutical and medical technology, clean energy and infrastructure, and asset management.