{"id":86015,"date":"2024-08-13T00:00:00","date_gmt":"2024-08-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/08\/13\/aramco-funnels-usd-100-mn-towards-kaust-research-and-development-for-10-years\/"},"modified":"2024-08-13T00:00:00","modified_gmt":"2024-08-13T00:00:00","slug":"aramco-funnels-usd-100-mn-towards-kaust-research-and-development-for-10-years","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/08\/13\/aramco-funnels-usd-100-mn-towards-kaust-research-and-development-for-10-years\/","title":{"rendered":"Aramco funnels USD 100 mn towards KAUST research and development for 10 years"},"content":{"rendered":"

KAUST R&D gets a boost from Aramco: <\/strong>Saudi oil giant Aramco plans to provide King Abdullah University of Science and Technology (KAUST) with USD 100 mn to support environmental and commercial research and development projects over the next 10 years, according to a press release<\/a>. <\/p>\n

The details:<\/strong> The money will go into researching low-carbon aviation fuels, hydrogen, carbon capture and storage, renewables, and energy storage, \u201cwith an emphasis on developing commercially-viable outcomes,\u201d the statement added.<\/span><\/p>\n

KAUST is working on a lot of green projects: <\/strong>The university partnered with Materials science company Partanna Global last month to enhance the CO2 removal capabilities of Partanna's concrete products in a 12-month R&D project<\/a>. The university also tapped Hassan Allam Construction Saudi to build the world\u2019s largest coral reef restoration project<\/a> in Neom, dubbed the Kaust Coral Restoration Initiative. In January, KAUST researchers developed a novel passive cooling technique<\/a> that uses a superabsorbent polymer film to lower temperatures without the use of any electricity.<\/p>\n

Aramco\u2019s green goals: <\/strong>Aramco is looking to expand its energy portfolio<\/a> and \u201cgrow its lower-carbon hydrogen business,\u201d including through carbon capture and storage and hydrogen, and aims to reduce its Scope 1 and 2 emissions<\/a> by 15% by 2035 \u2014 to offset 52 mn metric tons of CO2 \u2014 and reach net zero emissions by 2050. <\/p>\n

Aramco has sealed several other green agreements: <\/strong>Aramco\u2019s recent efforts to achieve their emissions reduction goals include acquiring 50% of Air Products Qudra\u2019s blue hydrogen unit last month, and signing an agreement with Joby Aviation to deploy eVTOLS<\/a> in Saudi Arabia. Aramco is also part of a consortium that is building three new solar photovoltaic projects<\/a> in Saudi Arabia to produce 5.5 GW of green electricity. <\/p>\n","protected":false},"excerpt":{"rendered":"

The funds will go towards researching low-carbon aviation fuels, hydrogen, carbon capture and storage, renewables, and energy storage<\/p>\n","protected":false},"author":1,"featured_media":86016,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[243],"tags":[234,11,164,270],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-finance","tag-aramco","tag-enterpriseclimate","tag-green-finance","tag-kaust","wpautop","entry"],"acf":{"mongo_id":"125cf605-ee90-49e9-a286-23ad1c6f8806","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1085.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Aramco funnels USD 100 mn towards KAUST research and development for 10 years","related_issue":[86010],"teaser":"The funds will go towards researching low-carbon aviation fuels, hydrogen, carbon capture and storage, renewables, and energy storage","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.6911f0e3-f14c-4508-b22b-efb137aae05a.mp3"},"yoast_head":"\nAramco funnels USD 100 mn towards KAUST research and development for 10 years - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2024\/08\/13\/aramco-funnels-usd-100-mn-towards-kaust-research-and-development-for-10-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aramco funnels USD 100 mn towards KAUST research and development for 10 years\" \/>\n<meta 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