Tag: Advanced Inhalation Rituals

  • Air Global Launches R&D Facility in Dubai

    Air Global Launches R&D Facility in Dubai

    Photos: Air Global

    Advanced Inhalation Rituals (AIR Global) has launched a new research, design and development (RDD) lab in Dubai.

    Backed by an AED100 million ($27.23 million) investment, the facility will be used to develop and hire tech talent, drive innovation in the shisha industry and speed up the development of new products.

    The global hub will develop new inhalation products that build on the success of OOKA, a charcoal-free, pod-based shisha device, which, according to AIR Global, provides a cleaner alternative.

    OOKA currently delivers approximately 30 percent of AIR Global’s revenue in the United Arab Emirates region.

    The lab will boast newly designed laboratories and deliver purpose-built workshops; new products are in early phases of testing and intended for launch in 2025.

    “I have always drawn personal inspiration in my career from the power of technology—to create entirely new industries, disrupt existing sectors and develop products that no one else has thought of,” said AIR Global Chief Product Officer Paul Dawson.

    “And it’s this exact mindset and ethos that we will achieve through the RDD Lab. With an aspirational team from around the world and cutting-edge technology at our fingertips, we’ll be creating new prototypes and combining them with our existing range of products to fundamentally change how people experience shisha. It’s an exciting time to be part of such a talented team that will drive forward innovation.”

    The RDD Lab will employ 26 people and 19 different nationalities, with equal numbers of men and women in its workforce.

    “The business is embarking on the next phase in its growth journey at an incredibly exciting time, where consumers are showing appetite for more eco-conscious, reduced-risk shisha experiences. The RDD lab will not only create new products that put sustainability, science and technology at the forefront but enable us to break ground into new global regions,” said Chief Legal and Corporate Officer Ronan Barry.

    “The recent launch of OOKA in Germany, a significant shisha market, was a milestone moment for us as we aspire to bring new inhalation experiences to a European market. The launch of this lab gives us even more momentum to build on as we expand our product range and presence globally.”

  • Shisha Producer Calls Banks to Pitch for IPO

    Shisha Producer Calls Banks to Pitch for IPO

    Image: Дмитрий Скорина | Adobe Stock

    Advanced Inhalation Rituals (AIR), a Dubai-based producer of shisha molasses, has invited banks to pitch for roles in its planned initial public offering (IPO), which is expected next year, according to anonymous sources with knowledge of the matter, which is not public, reports Reuters.

    AIR has not decided on a listing venue yet, but Abu Dhabi and Dubai are among the options.

    Majority owner of AIR, Britain’s Kingsway Capital, is looking to follow a dual-track process where a seller pursues a sale and an IPO simultaneously. Rothschild and Co. is acting as financial advisor to AIR.

    Last month, Kingsway Capital started meetings with tobacco firms such as BAT and Japan Tobacco.