Aramco to invest $100 million in KAUST
For a Saudi research initiative
Aramco has pledged $100 million over the next decade to the Saudi Arabia-based King Abdullah University of Science and Technology (KAUST).
The investment reflects Aramco’s dedication to supporting cutting-edge research in Saudi Arabia. It also aims to accelerate innovation in the Gulf state and address some of the most urgent global and local challenges.
The collaboration between the two Saudi entities will cover various fields, including energy transition, sustainability, materials science, and digital technologies. Specific research areas will include liquids-to-chemicals conversion, future refineries, low-carbon aviation fuels, hydrogen, carbon capture and storage, renewable energy, and energy storage solutions.
Additionally, the partnership will explore advanced carbon materials and geothermal energy, among other topics.
Ali A. Al-Meshari, Aramco’s senior vice president of technology oversight and coordination, and Ian Campbell, vice president of KAUST’s National Transformation Initiative, signed a partnership MoU on August 16, 2024. Ahmad O. Al-Khowaiter, Aramco’s Executive Vice President of Technology and innovation, and Tony Chan, President of KAUST, attended the signing ceremony at Aramco’s headquarters in Riyadh.
New frontiers
The partnership aims to explore new frontiers in science and technology, focusing on projects that promise environmental and commercial benefits. The $100 million funding will support a range of research initiatives, from basic science to applied technology, as KAUST endeavours to push the boundaries of innovation.
Amin H. Nasser, Aramco President & CEO, said: “This collaboration will deepen our relationship with KAUST, allowing us to explore new possibilities with a strong emphasis on R&D and technology development. It reflects our belief in the critical role of innovation in advancing across industries.”
KAUST President Tony Chan added, “Our partnership with Aramco highlights KAUST’s commitment to impactful research that drives technological progress and addresses real-world issues. We aim to develop innovative solutions for a sustainable future by combining our expertise.”
Featured image: (L-R seated) Ian Campbell, Vice President of KAUST’s National Transformation Initiative, and Ali A. Al-Meshari, Aramco Senior Vice President of Technology Oversight & Coordination, signed the MoU in the presence of (L-R standing) Tony Chan, KAUST President, and Ahmad O. Al-Khowaiter, Aramco Executive Vice President of Technology & Innovation. Credit: Aramco
