Neom to Adopt Unique ‘Solar Dome’ Desalination Plant

Neom to Adopt Unique ‘Solar Dome’ Desalination Plant
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Neom to Adopt Unique ‘Solar Dome’ Desalination Plant

Neom to Adopt Unique ‘Solar Dome’ Desalination Plant

The Neom smart-city project will use cutting-edge solar technology to power a desalination plant that produces clean, low-cost, environmentally friendly freshwater. The decision aims to enhance the megacity’s position as a new global tourism destination, a center of innovation and environmental conservation, and as an accelerator of human progress.

Neom signed an agreement with UK business Solar Water Limited to build a desalination plant in the northwest of the Kingdom that uses the newly developed “solar dome” technology. It is hoped that thef first-of-its-kind, completely sustainable and carbon-neutral facility will shape the future of desalination in Neom, the Kingdom and throughout the world.

Work on the solar dome project will begin in February and is expected to be completed by the end of the year. The technology it employs will significantly reduce the environmental impact of the desalination process by producing less saline solution, a byproduct that can harm natural ecosystems.

The pioneering and innovative approach from Solar Water Limited, which was developed at Cranfield University in the UK, represents the first widespread use of concentrated solar power technology in desalination, Neom said.

Seawater is pumped into a hydrological solar dome made of glass and steel, where it is heated and evaporated to remove the salt. The process can continue at night thanks to the storage of solar energy generated throughout the day. The technology helps to prevent any damage to marine life as it does not dump saline solution created by the process back into the sea.

“Neom’s adoption of the experimental version of this program supports the sustainability goals set by the Ministry in the Kingdom, as shown in the National Water Strategy 2030, and is fully in line with the sustainable-development goals set by the United Nations,” said Minister of Environment, Water and Agriculture Abdulrahman Al-Fadhli.

Neom CEO Nadhmi Al-Nasr said that the megacity project has easy access to abundant amounts of seawater and completely renewable energy resources, which puts it in the ideal position to produce low-cost and sustainable fresh water using solar-powered desalination.

He added that the adoption of this type of technology reflects Neom’s commitment to supporting innovation, protecting the environment and preserving its purity to provide a comfortable and exceptional life. It also raises the possibility of using the technology in other parts of Saudi Arabia in cooperation with the Ministry of Environment, Water and Agriculture.

David Reavley, the CEO of Solar Water Ltd, said: “Currently, thousands of desalination plants around the world rely heavily on burning fossil fuels for water extraction, and we have the technology to desalinate water in a way that is completely sustainable and 100 percent carbon neutral."

“We are happy to partner with Neom, which has a strong vision of what the new future looks like in harmony and integration with nature.”



Bitcoin is at Doorstep of $100,000

Bitcoin tokens and a price chart are seen in this illustration picture taken November 21, 2024. REUTERS/Remo Casilli/Illustration
Bitcoin tokens and a price chart are seen in this illustration picture taken November 21, 2024. REUTERS/Remo Casilli/Illustration
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Bitcoin is at Doorstep of $100,000

Bitcoin tokens and a price chart are seen in this illustration picture taken November 21, 2024. REUTERS/Remo Casilli/Illustration
Bitcoin tokens and a price chart are seen in this illustration picture taken November 21, 2024. REUTERS/Remo Casilli/Illustration

Bitcoin topped $98,000 for the first time Thursday, extending a streak of almost daily all-time highs since the US presidential election. The cryptocurrency has rocketed more than 40% in just two weeks.
Now, bitcoin is at the doorstep of $100,000 and investors do not appear to be phased by gravity or any cautionary tales of the cryptocurrencies history of volatility, The Associated Press reported.
Cryptocurrencies and related investments like crypto exchange traded funds have rallied because the incoming Trump administration is expected to be more “crypto-friendly” than the outgoing Biden administration.
As of 8:30 a.m. ET, bitcoin traded at $97,466 after rising as high as $98,349 according to CoinDesk.
Yet cryptocurrency markets remain a wild place and what comes next is impossible to know. And while some are bullish, other experts are warning of investment risks.
Here’s what you need to know.
Back up. What is cryptocurrency again? Cryptocurrency has been around for a while now but have come under the spotlight in recent years.
In basic terms, cryptocurrency is digital money. This kind of currency is designed to work through an online network without a central authority — meaning it’s typically not backed by any government or banking institution — and transactions get recorded with technology called a blockchain.
Bitcoin is the largest and oldest cryptocurrency, although other assets like Ethereum, Tether and Dogecoin have gained popularity over the years. Some investors see cryptocurrency as a “digital alternative” to traditional money — but it can be very volatile, with its price reliant on larger market conditions.
Why are bitcoin and other crypto assets soaring? A lot of the recent action has to do with the outcome of the US election.
Trump has evolved from a crypto skeptic to a crypto champion and has pledged to make the US “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. His campaign accepted donations in cryptocurrency and he courted fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies.
Crypto industry players welcomed Trump’s victory, in hopes that he would be able to push through legislative and regulatory changes that they’ve long lobbied for. Trump also had promised that, if elected, he would remove the chair of the Securities and Exchange Commission, Gary Gensler, who has been leading the US government’s crackdown on the crypto industry and repeatedly called for more oversight.
Digital assets like bitcoin had posted notable gains in the months ahead of the election, mostly due to the early success of a new way to invest in the asset: spot bitcoin ETFs, which were approved by US regulators in January.
Inflows into spot ETFs, “have been the dominant driver of Bitcoin returns from some time, and we expect this relationship to continue in the near-term,” Citi analysts David Glass and Alex Saunders wrote in a research note two weeks ago. They added that spot crypto ETFs saw some of their largest inflows on record in the days following the election.
In April, bitcoin also saw its fourth “halving” — a preprogrammed event that impacts production by cutting the reward for mining, or the creation of new bitcoin, in half. When that reward falls, so does the number of new bitcoins entering the market. And, if demand remains strong, some analysts say this “supply shock” can also help propel the price long term.
What are the risks? History shows you can lose money in crypto as quickly as you’ve made it. Long-term price behavior relies on larger market conditions. Trading continues at all hours, every day.
At the start of the COVID-19 pandemic, bitcoin stood at just over $5,000. Its price climbed to nearly $69,000 by November 2021, in a time marked by high demand for technology assets. Bitcoin later crashed during an aggressive series of Federal Reserve rate hikes aimed at curbing inflation. The collapse of FTX in late 2022 significantly undermined confidence in crypto overall and bitcoin fell below $17,000.
Investors began returning in large numbers as inflation started to cool — and gains skyrocketed on the anticipation and then early success of spot ETFs. Experts still stress caution, especially for small-pocketed investors.
What about the climate impact? Assets like bitcoin are produced through a process called “mining,” which consumes a lot of energy. And operations relying on pollutive sources have drawn particular concern over the years.
Recent research published by the United Nations University and Earth’s Future journal found that the carbon footprint of 2020-2021 bitcoin mining across 76 nations was equivalent to the emissions from burning 84 billion pounds of coal or running 190 natural gas-fired power plants. Coal satisfied the bulk of bitcoin’s electricity demands (45%), followed by natural gas (21%) and hydropower (16%).