Three out of four projects approved by the OPEC Fund for International Development (OFID) in 1Q 2023 were climate-focused, according to a statement released last week. OFID revealed its climate action investment strategy last September, aiming to channel 40% of all new financing into climate mitigation and resilience projects in the energy, smart city, food […]
Author Archives: enterpriseam admin
Lab engineered bacteria presents alternative to polluting textile dyes
UK biotech company Colorifix found a way to produce dyes with a fraction of the water used in conventional methods and without any toxic chemicals, Bloomberg reports. Colorifix’s method cuts down 81% in water use and 41% on natural gas, according to an environmental impact analysis prepared for the company last year. The fast fashion […]
MARCH 2023 22-24 March (Wednesday-Friday): K.ey - The Energy Transition Expo, Rimini Expo Centre, Emilia-Romagna, Italy. 22-24 March (Wednesday-Friday): UN 2023 Water Conference, New York, NY, United States. 27-29 March (Monday-Wednesday): First Meeting of the Transitional Committee in Egypt focusing on Adaptation and Loss and Damage. APRIL 2023 6 April (Thursday): Arabia CSR Awards 2022 […]
TODAY: Saudi Arabia’s Taqa establishes new JV to explore geothermal energy sources in the kingdom
Good morning, wonderful people. It’s finally Thursday, and we’re ready for the weekend. But first, we have a couple of key developments from Saudi Arabia. THE BIG CLIMATE STORY- KSA’s Taqa will form a JV with Iceland’s Reykjavik Geothermal to explore sources of geothermal energy in Saudi Arabia, and Saudi oil giant Aramco will work […]
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KSA’s Taqa establishes JV with Icelandic Reykjavik Geothermal for geothermal exploration
KSA’s Taqa establishes JV to explore geothermal energy: The Industrialization andEnergy Services Company (Taqa) signed a joint venture agreement with Iceland’s Reykjavik Geothermal (RG) to establish the Taqa Geothermal Energy Company in Riyadh, according to a statement. The new JV will explore sources of geothermal energy in Saudi Arabia to build up a generation capacity […]
Aramco and Germany’s Linde join forces on ammonia cracking
Saudi oil giant Aramco signed a cooperation agreement with British chemicals company Linde to jointly develop ammonia cracking technology and establish a demonstration facility in northern Germany, according to a company statement. What’s happening at this new demonstration plant? The facility will be where the parties will evaluate the efficiency of Aramco’s ammonia cracking catalyst […]
GCC companies rack up innovation and sustainability awards
The Saudi Investment Recycling Company (SIRC) landed second on the Forbes list of the most innovative firms in environmental sustainability, according to a statement released this week. SIRC signed an agreement with Saudi Arabia’s state-owned National Agricultural Development Company (Nadec) last month to jointly recycle 400k tons of biowaste annually with the goal of converting […]
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Iran’s lithium jackpot could net major FDI + The argument for floating solar panels on global water reservoirs
Could Iran’s latest discovery be the ticket out of sanctions? Iran could leverage its critical minerals mining potential to attract FDI and lift west-imposed sanctions, minerals economist Jamil Hijazi writes for Mining.com. As the renewables and EV industries gather steam globally, countries with lithium reservoirs like Iran — which recently announced the discovery of MENA’s […]