SABIC, KACARE tie up for renewable energy studies

SABIC, KACARE tie up for renewable energy studies
Updated 28 February 2014

SABIC, KACARE tie up for renewable energy studies

SABIC, KACARE tie up for renewable energy studies

SABIC and the King Abdullah City for Atomic and Renewable Energy (KACARE) have signed a research and development agreement to explore untapped areas of cooperation in joint technology development.
Hashim Abdullah Yamani, KACARE president, and Mohamed Al-Mady, SABIC vice chairman and CEO, signed the deal in Riyadh.
Under the agreement, SABIC and KACARE, in the focus area of technology and innovation, will develop a range of protocols for evaluation and feasibility of renewable energies including, solar, wind, and municipal waste, with specific attention given to electricity or steam generation for industrial usage, and energy storage.
Al-Mady said: “SABIC, as a world leader in chemicals and with a strong commitment to sustainability, is proud to partner with KACARE, whose primary aim is to develop alternative energy capacity supported by local industries.”
He added: “As part of our endeavor, we are looking toward several key areas of cooperation, including facilitating renewable energy technologies in Saudi Arabia and stimulating the local production of key components for such energy generation and storage.”
Al-Mady said: “We want to ensure over time a win-win partnership with KACARE that would address the energy needs of Saudi Arabia, generate employment, stimulate the economy, and bring benefits for the coming generations.” KACARE was established in 2010 with the fundamental aim of building a sustainable future for Saudi Arabia by developing a substantial alternative energy capacity fully supported by world-class local industries.
SABIC continues to invest in innovative technologies to develop products and applications that are energy efficient and respond to sustainability needs.
SABIC ranks among the world’s top petrochemical companies.
The company is among the world’s market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.