Saudi Aramco, a global leader in energy and chemicals, has solidified its commitment to research and innovation by signing a Memorandum of Understanding (MoU) with King Abdullah University of Science and Technology (KAUST).
The agreement outlines Aramco’s plan to fund up to $100 million in research and development projects at KAUST over the next 10 years.
Advancing Science and Innovation
The investment aims to support a broad range of initiatives, from fundamental research to the development of applied technologies.
KAUST is known for pushing the boundaries of science and innovation, and Aramco’s funding will further enable the university to explore new frontiers.
Statements from the Leaders
Amin Nasser, Aramco’s President & CEO, expressed his excitement about the collaboration, highlighting its potential to explore new possibilities and frontiers with a strong focus on R&D and technology development.
Tony Chan, President of KAUST, emphasized the partnership’s alignment with the university’s commitment to impactful research that drives technological advancements and addresses real-world challenges.
Key Areas of Collaboration
The collaboration between Aramco and KAUST will encompass various fields, including:
- Energy transition: Focus on liquids-to-chemicals conversion, future refineries research, and low-carbon aviation fuels.
- Sustainability: Research on hydrogen, carbon capture and storage, renewables, and energy storage solutions.
- Materials transition: Exploration of advanced carbon materials.
- Upstream technologies and digital solutions: Development of innovative solutions for the energy industry.
Focus on Commercial Viability
The partnership emphasizes the development of commercially viable outcomes from the research conducted, ensuring that the advancements made have real-world applications and benefits.