Aramco, KAUST to Form Consortium for Nonmetallics and Composites in Energy Applications

Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. (Reuters)
Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. (Reuters)
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Aramco, KAUST to Form Consortium for Nonmetallics and Composites in Energy Applications

Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. (Reuters)
Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. (Reuters)

The King Abdullah University of Science and Technology (KAUST) has signed an agreement with Aramco to establish a technology consortium focusing on performance and integrity management of nonmetallics and composites in energy applications (ENERCOMP), said KAUST in a statement.

Aramco has joined ENERCOMP as a founding member and first research sponsor to further advance nonmetallic materials in the energy sector.

"The five-year technology consortium represents a significant university-based R&D investment in nonmetallics and composites in the Kingdom, setting an example of bringing a new technology value chain together to strengthen the Kingdom’s position in the energy and materials transitions," said the statement.

The joint investment aims to support the Kingdom’s vision toward sustainability and diversification through the development of less energy-intensive and lower carbon-footprint materials.

Aramco will leverage its experience from relevant initiatives such as the Rice University Carbon Hub in the US and the Nonmetallic Innovation Center (NIC) in the UK to support ENERCOMP in transforming fundamental science into deployable integrity management solutions. This will increase industry confidence in the long-term role that nonmetallics and composites can play as an integral part of the materials transition.

Similar to the NIC model, the initiative will encourage other energy sector players to join the consortium and utilize KAUST’s cutting-edge research capabilities in engineering solutions, AI and material science.

Aramco Senior Vice President of Technology Oversight and Coordination Dr. Ali Al-Meshari said: "Through this collaboration, we aim to create an innovation hub for advanced composites in the Kingdom. By focusing on the development and integration of smart and cost-effective sensors in composite materials and applying emerging AI solutions, we can deploy novel integrity management technologies to the energy industry at large."

Director of ENERCOMP and KAUST Professor of Mechanical Engineering Prof. Gilles Lubineau highlighted the significance of this step, saying that ENERCOMP represents a new era of collaboration between KAUST and energy sector leaders.

The ambitious industry-focused partnership aims to establish a specialized team at KAUST to support engineering applications of nonmetallics and composites throughout the energy value chain. By supporting the Kingdom's nonmetallic and composite agenda, ENERCOMP will deliver innovative solutions crucial for a sustainable future, he added.



Central Bank Chief: Morocco Preparing Law to Allow Cryptocurrencies

Representations of cryptocurrency Bitcoin are seen in this illustration taken November 25, 2024. REUTERS/Dado Ruvic/Illustration
Representations of cryptocurrency Bitcoin are seen in this illustration taken November 25, 2024. REUTERS/Dado Ruvic/Illustration
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Central Bank Chief: Morocco Preparing Law to Allow Cryptocurrencies

Representations of cryptocurrency Bitcoin are seen in this illustration taken November 25, 2024. REUTERS/Dado Ruvic/Illustration
Representations of cryptocurrency Bitcoin are seen in this illustration taken November 25, 2024. REUTERS/Dado Ruvic/Illustration

A draft law on cryptocurrencies is undergoing the process of adoption in Morocco, the governor of its central bank, Abdellatif Jouahri, said on Tuesday.

The central bank, known as Bank Al Maghrib, "has prepared a draft law regulating crypto assets, which is currently in the adoption process," Jouahri told an international conference in Rabat.

Bank Al Maghrib was also exploring a central bank digital currency (CBDC), Reuters quoted him as saying.
"Regarding central bank digital currencies, and like many countries around the world, we are exploring to what extent this new form of currency could contribute to achieving certain public policy objectives, particularly in terms of financial inclusion," he said.