Saudi Aramco, KAUST ink USD100M MOU to drive innovation, sustainability

(MENAFN) Saudi Aramco has entered into a strategic Memorandum of Understanding (MoU) with King Abdullah University of Science and Technology (KAUST), aimed at fostering research that yields both environmental and commercial benefits. Over the next decade, Saudi Aramco will allocate $100 million to fund various research and development projects in collaboration with KAUST. This significant investment will be channeled into a broad spectrum of initiatives, ranging from foundational scientific research to the development of applied technologies. Through this partnership, KAUST aims to enhance its efforts in driving innovation and advancing technological breakthroughs, reinforcing its commitment to being at the forefront of research that tackles key challenges across multiple industries.

Amin H. Nasser, President and CEO of Saudi Aramco, highlighted the importance of this collaboration in strengthening the already deep ties between the company and KAUST. Nasser expressed enthusiasm for the new opportunities this partnership will create, emphasizing Saudi Aramco’s strong focus on research and technology development as a core component of its business strategy. He reiterated the company’s unwavering belief in the critical role that innovation plays in driving progress across various industries and applications, positioning this partnership as a catalyst for exploring new frontiers in technology and research.

KAUST President Professor Tony Chan echoed these sentiments, emphasizing the university’s commitment to advancing impactful research that addresses real-world challenges and drives technological progress. He noted that the collaboration with Saudi Aramco will allow both institutions to combine their expertise to develop innovative solutions that contribute to a more sustainable future. This partnership not only reflects KAUST’s dedication to research excellence but also its mission to deliver tangible benefits to society through cutting-edge scientific and technological advancements.

MENAFN13082024000045015682ID1108548789