King Abdullah City for Atomic and Renewable Energy has signed a Research and Development Agreement to explore untapped areas of cooperation to develop joint technology of intellectual property in Saudi Arabia.
The agreement was signed by Dr. Hashim Yamani, President of King Abdullah City for Atomic and Renewable Energy and Mr. Mohamed Al-Mady, SABIC Vice Chairman and CEO, at the City’s Headquarters in Riyadh on Thursday 27 Rabia II 1435 , corresponding to 27 February 2014.
Under this agreement, K.A.CARE and SABIC will develop a range of initiatives in the areas of Research, Development and Innovation for evaluating feasibility of renewable energy technologies in solar, wind and municipal waste, for power generation and energy storage.
Dr. Hashim Yamani said “ This agreement comes as an extension of King Abdullah City for Atomic and Renewable Energy approach to work with its local and international partners to achieve the royal vision in establishment of sustainable energy sector in the Kingdom. “
The agreement also comes within the mechanisms included in the Royal Decree which aims to contribute to sustainable development in the Kingdom by using science, research and industries related to atomic and renewable energy for peaceful purposes, thereby raising the standard of living and improve the quality of life in the kingdom and do the support and sponsorship activities of scientific research and development and technology localization in the areas of collaboration with institutions and scientific research centers in the Kingdom. “
Committing on the agreement, Eng. Mohamed Al-Mady said “ we want to ensure a win-win partnership with King Abdullah City for Atomic and Renewable Energy that would address the energy needs of Saudi Arabia, generate employment, stimulate the economy, and bring benefits for the coming generations.”