Tiktok Owner Bytedance Aims for Hong Kong IPO by Early 2022

The ByteDance logo is seen in this illustration taken, Nov. 27, 2019. REUTERS/Dado Ruvic/Illustration/File Photo
The ByteDance logo is seen in this illustration taken, Nov. 27, 2019. REUTERS/Dado Ruvic/Illustration/File Photo
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Tiktok Owner Bytedance Aims for Hong Kong IPO by Early 2022

The ByteDance logo is seen in this illustration taken, Nov. 27, 2019. REUTERS/Dado Ruvic/Illustration/File Photo
The ByteDance logo is seen in this illustration taken, Nov. 27, 2019. REUTERS/Dado Ruvic/Illustration/File Photo

ByteDance, the Chinese owner of short video platform TikTok, has revived its plan to go public with a listing in Hong Kong by early 2022 after addressing Chinese regulators' concerns, the Financial Times reported on Sunday.

ByteDance is planning to list in either the fourth quarter of this year or in early 2022, the FT reported, citing sources familiar with the matter.

"We are expecting final guidance from ByteDance in September. They are submitting all the filings with Chinese authorities right now and are going through the review process," the newspaper quoted a source as saying.

However, a ByteDance spokesperson told Reuters that the FT report was not accurate. The spokesperson declined to provide more details, Reuters reported.

Beijing-based BytDance said in April that it had no imminent plans for an initial public offering (IPO).

Chinese regulators have stepped up their scrutiny of the tech sector in recent months. The FT report said ByteDance has been working on addressing data security concerns raised by regulators.



Saudi KAUST Partners with Abdul Latif Jameel Motors, Toyota to Advance Zero-Carbon Fuel Cell Technologies

The collaboration aims to support the Kingdom's decarbonization efforts across the transportation sector and beyond, contributing to the national goal of achieving net-zero greenhouse gas (GHG) emissions by 2060. (SPA)
The collaboration aims to support the Kingdom's decarbonization efforts across the transportation sector and beyond, contributing to the national goal of achieving net-zero greenhouse gas (GHG) emissions by 2060. (SPA)
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Saudi KAUST Partners with Abdul Latif Jameel Motors, Toyota to Advance Zero-Carbon Fuel Cell Technologies

The collaboration aims to support the Kingdom's decarbonization efforts across the transportation sector and beyond, contributing to the national goal of achieving net-zero greenhouse gas (GHG) emissions by 2060. (SPA)
The collaboration aims to support the Kingdom's decarbonization efforts across the transportation sector and beyond, contributing to the national goal of achieving net-zero greenhouse gas (GHG) emissions by 2060. (SPA)

Saudi Arabia’s King Abdullah University of Science and Technology (KAUST), Abdul Latif Jameel Motors, and Toyota Motor Corporation (TMC) have embarked on a strategic partnership to advance hydrogen fuel cell research in Saudi Arabia.

The collaboration aims to support the Kingdom's decarbonization efforts across the transportation sector and beyond, contributing to the national goal of achieving net-zero greenhouse gas (GHG) emissions by 2060.

As a centerpiece of this partnership, KAUST has acquired Proton Electrolyte Membrane (PEM) fuel cell modules from TMC, establishing a state-of-the-art laboratory at KAUST under its Clean Energy Research Platform (CERP) dedicated to advancing this cutting-edge technology, reported the Saudi Press Agency on Tuesday.

The facility will be at the forefront of Saudi Arabia's efforts to lead in hydrogen innovation, particularly in tailoring fuel cells to the region's unique environmental conditions.

Professor Mani Sarathy, from KAUST's Physical Science and Engineering Division, said: “At KAUST, we are excited to collaborate with TMC and Abdul Latif Jameel Motors to drive the adoption of hydrogen fuel cell technology in Saudi Arabia, aligning with the Kingdom's Vision 2030 and net-zero goals for 2060.”

“Through our Clean Energy Research Platform (CERP), we are focused on advancing research that will optimize hydrogen fuel cells for the region's specific conditions, ensuring their efficiency and reliability. This partnership demonstrates our commitment to pioneering innovations that support sustainable solutions and contribute to a greener future for Saudi Arabia and beyond,” he said.

Sarathy and his team at CERP are currently leading research efforts to explore the performance, durability, and environmental integration of PEM fuel cells, supported technically and financially by TMC and Abdul Latif Jameel Motors.

The team is conducting a series of modeling and experimental studies to assess factors such as temperature sensitivity, humidity impact, and overall efficiency, with the goal of maximizing the environmental benefits of these fuel cells within the Kingdom's infrastructure.

Saudi Arabia, with its vast renewable energy resources, is well-positioned to produce both green hydrogen and blue hydrogen using Carbon Capture, Utilization, and Storage (CCUS) technology. With this in mind, the Kingdom aims to produce approximately 2.9 million tons of hydrogen by 2030, with competitive costs for both domestic use and export.