Aramco plans $100M funding for KAUST to support R&D

Saudi Aramco signed a memorandum of understanding (MoU) with King Abdullah University of Science and Technology (KAUST) to support research to deliver environmental and commercial benefits.

The company plans to fund up to $100 million in research and development (R&D) projects with KAUST over the next 10 years.

In an emailed statement to Argaam, the giant oil exporter said the financing has been earmarked for a wide range of initiatives, from essential research to applied technologies, as KAUST seeks to push the boundaries of science and innovation.

Areas of collaboration include the energy transition, sustainability, materials transition, upstream technologies and digital solutions, with an emphasis on developing commercially-viable outcomes.  

Moreover, the topics identified within the energy transition field include liquids-to-chemicals conversion, future refineries research and low-carbon aviation fuels.

Sustainability research will include hydrogen, carbon capture and storage, renewables, and energy storage solutions. Additional projects are expected to focus on advanced carbon materials and geothermal energy, among other things, Aramco added.