RIYADH: Saudi energy giant Aramco has announced a $100 million commitment to fund research and development at King Abdullah University of Science and Technology over the next decade.
The collaboration aims to accelerate innovation in Saudi Arabia and develop commercially viable solutions that support the global energy transition and sustainability goals, the company said in a press release.
The agreement, formalized through a memorandum of understanding, will see Aramco and KAUST partner on a range of projects that span essential research and applied technologies.
The initiatives will focus on areas including energy transition, sustainability, materials science, upstream technologies, and digital solutions.
This comes as Saudi Arabia intensifies its efforts to position itself as a global leader in energy innovation and sustainability, in line with its Vision 2030 strategy to diversify the economy and reduce reliance on oil.
As part of this broader initiative, the country is making substantial investments in research and development to advance technologies that support the energy transition and address critical environmental challenges.
Aramco President and CEO, Amin Nasser, said: “This collaboration will further deepen Aramco’s relationship with KAUST and we look forward to exploring new possibilities and frontiers with a strong focus on R&D and technology development, reflecting our firm belief in the importance of innovation across industries and applications.”
The collaboration will target key areas such as liquids-to-chemicals conversion, low-carbon aviation fuels, and future refineries within the energy transition field.
“The partnership exemplifies KAUST’s dedication to fostering impactful research that drives technological advancements and addresses real-world challenges. Our collaboration with Aramco will leverage our combined expertise to develop innovative solutions for a sustainable future,” said KAUST President Tony Chan.
As part of the deal, sustainability efforts will focus on hydrogen, carbon capture and storage, renewables, and energy storage technologies.
Additional projects are expected to address advanced carbon materials and geothermal energy, among other initiatives, according to the release.
Founded in 2009, KAUST is a graduate research university focused on addressing key scientific and technological challenges in areas such as food, health, water, energy, environment, and digital technologies.
The partnership marks a significant step in Saudi Arabia’s ongoing commitment to becoming a global hub for energy innovation and sustainable development.
