KAUST, NEOM Collaborate to Advance Green Economy with Hydrogen and Sustainable Fuel Technologies

NEOM's OXAGON. Photo: Asharq Al-Awsat
NEOM's OXAGON. Photo: Asharq Al-Awsat
TT

KAUST, NEOM Collaborate to Advance Green Economy with Hydrogen and Sustainable Fuel Technologies

NEOM's OXAGON. Photo: Asharq Al-Awsat
NEOM's OXAGON. Photo: Asharq Al-Awsat

King Abdullah University of Science and Technology (KAUST) has announced a strategic partnership with NEOM to accelerate the transformation of the Kingdom's green economy.

The collaboration focuses on developing hydrogen and sustainable fuel production technologies through three cutting-edge applied research projects.

Under this partnership, NEOM's Education, Research, and Innovation Foundation, through the Hydrogen and E-Fuels Applied Research Institute (HEFARI), is sponsoring the development of hydrogen as a renewable energy source.

KAUST researchers and scientists are at the forefront of these initiatives, showcasing progress at a recent two-day KAUST Research and Technology Park summit.

The summit brought together senior representatives from KAUST, NEOM, HEFARI, INOWA, Imperial College, Saudi Aramco, HyET, Cruise Saudi, Next7, and Dow. The attendees engaged in discussions on the ongoing projects, the challenges ahead, and the opportunities for advancing a green hydrogen economy in Saudi Arabia.

Key topics of the summit included the economic production of green hydrogen and ammonia, their critical applications in sustainable aviation fuel and marine propulsion, and the development of essential technologies such as electrolyzers, improved catalysts, and membranes.

Participants also addressed these technologies' crucial manufacturing, transportation, and storage needs.

Prominent KAUST faculty members lead the three research projects sponsored by HEFARI. Professor William Roberts, Professor of Mechanical Engineering, is spearheading efforts to develop carbon-neutral fuels for marine engines in response to new regulations to decarbonize shipping.

Professor Mani Sarathy, Professor of Chemical Engineering, is focused on reducing the costs of large-scale electrolysis technologies to produce cleaner hydrogen. Meanwhile, Assistant Professor of Mechanical Engineering Thibaut Guiberti is working on minimizing unwanted emissions from engines and turbines that utilize green ammonia as fuel.

This collaboration aligns with Saudi Arabia's ambitious goals to generate 50% of its electricity from renewable sources by 2030 and to become the world's largest producer and supplier of green hydrogen.

Additionally, it supports the Kingdom's target of achieving carbon neutrality by 2060 through the circular carbon economy approach. This strategy emphasizes replacing and localizing advanced carbon management technologies, enhancing integrated solutions to combat climate change and the Kingdom's commitment to maintaining global leadership in this critical field.



Trump Uncertainties Push Safe-haven Gold to Near all-time Highs

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
TT

Trump Uncertainties Push Safe-haven Gold to Near all-time Highs

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices soared to near three-month highs on Wednesday, trading below its record peak, fuelled by a soft dollar and lack of clarity around US President Donald Trump's policy plans, which investors fear could trigger trade wars and elevate market volatility.

Spot gold added 0.3% to $2,753.79 per ounce as of 9:45 a.m. ET (1445 GMT). Prices were at their highest since Oct. 31 when they hit their all-time-high of $2,790.15.

US gold futures gained 0.2% to $2,764.80.

The dollar index dipped to a more-than-three-week low, making greenback-priced bullion less expensive for holders of other currencies, Reuters reported.

"There are uncertainties with proposed tariffs and other things, and gold typically does well when there's a large or even a moderate amount of uncertainty in the market, it's a natural place where people gravitate to," said Ryan McIntyre, Senior Portfolio Manager at Sprott Asset Management.

Trump said his administration was discussing imposing a 10% tariff on goods imported from China on Feb. 1, the same day that he previously said Mexico and Canada could face levies of around 25%.

Gold is often viewed as a haven during times of economic and geopolitical turmoil, but Trump's proposed policies are broadly regarded as inflationary, potentially compelling the US Federal Reserve to sustain elevated interest rates for an extended period to rein in rising price pressures.

Trump has not provided many details about his proposed tariffs, making investors question the aggressiveness of the move, and the depth of its potential impacts.

"(Trump) has been perhaps just a shade less hawkish on tariffs as feared which helps - less/lower tariffs is taken to indicate lower inflation hence potential for more rate cuts," said Tai Wong, an independent metals trader.

Spot silver fell 0.6% to $30.68, but hovered near a one-month high hit on Jan. 16.

Platinum rose 0.3% to $946.50 and palladium gained 1.9% to $975.27.