GlassPoint, a firm that looks at decarbonizing industrial heat, has entered into a partnership with the Ministry of Investment of Saudi Arabia (MISA). The partnership will pave the way for the set up of a cutting-edge solar manufacturing unit and technology showcase in the Eastern Province of Saudi Arabia.
The unit is said to produce renewable energy technology that can generate 5,000 tons of solar steam everyday. This, in turn, will offset a significant four million MMBtus of gas thereby curbing carbon emissions by 200,000 tons annually. The technology manufactured here has applicability in sectors that emit large volumes of carbon, such as metals & mining and building materials. While MISA will offer support and advisory services, GlassPoint will add value by providing its technology and operational expertise.
Asaad H. Aljomoai, M.D. Global Supply Chain Resilience Initiative said, “MISA’s partnership with GlassPoint will deepen the Kingdom’s leadership in climate technology across the region. The new factory will play an important role in building some of the largest solar thermal projects in the world and also will create a new export market to advance renewable energy projects beyond our borders.”
GlassPoint says that the partnership is an important one looking to decarbonize the industrial sector, while reducing the climate impact of hard-to-abate industries. It will also help meet the rising demand for low-carbon materials.
The partnership is a part of Global Supply Chain Resilience Initiative by MISA. It looks to attract strategic supply chains to Saudi Arabia.