EV-

Green Watt to receive 1.6k EUVs from Tempo e-LV: The Netherlands-based, VivoPower subsidiary Tembo e-LV will supply 1.6k electric utility vehicles (EUVs) to local energy and environmental solutions provider Green Watt under a USD 85 mn agreement, according to a press release. Green Watt will be responsible for distributing the vehicles across Saudi Arabia over the next five years.

SOUND SMART- An EUV is an electric vehicle used by different industries to transport goods or personnel over short to medium distances. It offers an eco-friendly alternative to traditional vehicles, as its design suits rugged terrains.

OIL-

Ades disclosed Aramco as the counterparty in a previously reported 10-year renewal contract for one of its key standard offshore jack-up rigs in a disclosure to Tadawul on Thursday. The rig, earlier identified as one of six suspended units in the Kingdom, is currently completing a medium-term contract in Egypt. No commencement date has been disclosed.

STARTUP WATCH-

Homegrown AI startup Stuck? closed an undisclosed pre-seed round led by Mena TechFund, with participation from Kaust Innovation Fund and other angel investors, Wamda reported, citing a press release. Stuck? will leverage the freshly raised funds to scale up its Arabic AI models, add Chinese language support, and roll out tailored solutions for enterprise clients.

The pitch: Founded in 2022 by Asmaa Naga (LinkedIn), the startup provides language support services in Arabic and English through combining AI-powered translation with human input.

EDUCATION-

The PIF partnered with Formula E to launch Driving Force, a global STEM and sustainability education program that will roll out across the kingdom, the US, and the UK, it said in a statement. The initiative, unveiled ahead of the Miami E-Prix, will offer hands-on learning experience for electric motorsport and sustainable technology, targeting to attract some 50k students worldwide by the end of 2025.

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