NEOM Launches TOPIAN to Create Sustainable Food Systems

Topian aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed. (SPA)
Topian aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed. (SPA)
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NEOM Launches TOPIAN to Create Sustainable Food Systems

Topian aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed. (SPA)
Topian aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed. (SPA)

NEOM on Sunday announced the launch of Topian, the NEOM Food Company, which aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed.
In a statement, NEOM said that Topian will seek to redefine food production, distribution, and consumption through the creation of sustainable and innovative food solutions across five vertical pillars: climate-proof agriculture, regenerative aquaculture, novel foods, personalized nutrition, sustainable food supply and environmental, social and institutional governance.

Nadhmi Al-Nasr, CEO of NEOM, said: “NEOM is an accelerator of human progress and Topian reflects our dedication to creating a positive, long-lasting transformation to lives in Saudi Arabia and the rest of the world.”
He continued: “Topian’s innovative approach will be a key driver in shaping the future landscape of a sustainable and secure food industry. We look forward to working closely with investors, partners, and food industry experts in turning ambitious ideas into reality, supporting economic diversification in the Kingdom and aligned with Saudi Vision 2030.”
For his part, Dr. Juan Carlos Motamayor, Chief Executive Officer of Topian, said: “As a wholly-owned subsidiary of NEOM, Topian is fully aligned with NEOM’s commitment to providing high-quality food products to the market, and promoting food security and sustainability, while contributing to the Kingdom’s self-sufficiency objectives and long-term economic goals.”
He added: “Topian is leading the food-security conversation to create a resilient food supply in line with the Saudi Green Initiative and the United Nations Sustainability Development Goals. We are not only committing to shaping a transformative global food system, but also to setting a global benchmark by pioneering new technologies and innovative solutions to overcome food-related challenges and create a more secure, sustainable, and prosperous future for all.”
Topian has signed many local and international strategic partnership agreements with organizations and companies that share its commitment and dedication to reshaping the future of food.
These agreements include King Abdullah University of Science and Technology (KAUST), Tabuk University, as well as Tabuk Fish Company, BlueNalu, Van der Hoeven Horticultural Projects, and Cargill.

 

 

 

 



Oil Edges Up on Strong US GDP Data

A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
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Oil Edges Up on Strong US GDP Data

A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo

Oil prices were up slightly on Friday on stronger-than-expected US economic data that raised investor expectations for increasing crude oil demand from the world's largest energy consumer.

But concerns about soft economic conditions in Asia's biggest economies, China and Japan, capped gains.

Brent crude futures for September rose 7 cents to $82.44 a barrel by 0014 GMT. US West Texas Intermediate crude for September increased 4 cents to $78.32 per barrel, Reuters reported.

In the second quarter, the US economy grew at a faster-than-expected annualised rate of 2.8% as consumers spent more and businesses increased investments, Commerce Department data showed. Economists polled by Reuters had predicted US gross domestic product would grow by 2.0% over the period.

At the same time, inflation pressures eased, which kept intact expectations that the Federal Reserve would move forward with a September interest rate cut. Lower interest rates tend to boost economic activity, which can spur oil demand.

Still, continued signs of trouble in parts of Asia limited oil price gains.

Core consumer prices in Japan's capital were up 2.2% in July from a year earlier, data showed on Friday, raising market expectations of an interest rate hike in the near term.

But an index that strips away energy costs, seen as a better gauge of underlying price trends, rose at the slowest annual pace in nearly two years, suggesting that price hikes are moderating due to soft consumption.

China, the world's biggest crude importer, surprised markets for a second time this week by conducting an unscheduled lending operation on Thursday at steeply lower rates, suggesting authorities are trying to provide heavier monetary stimulus to prop up the economy.