KACST Successfully Localizes, Develops Energy-Efficient Blue LED Technology

The successful localization of the technology enhances the Kingdom’s global competitiveness and aligns with the Saudi Vision 2030 objectives. SPA
The successful localization of the technology enhances the Kingdom’s global competitiveness and aligns with the Saudi Vision 2030 objectives. SPA
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KACST Successfully Localizes, Develops Energy-Efficient Blue LED Technology

The successful localization of the technology enhances the Kingdom’s global competitiveness and aligns with the Saudi Vision 2030 objectives. SPA
The successful localization of the technology enhances the Kingdom’s global competitiveness and aligns with the Saudi Vision 2030 objectives. SPA

King Abdulaziz City for Science and Technology (KACST) successfully localized and developed blue light-emitting diode (LED) technology, which is used in modern energy-efficient lighting applications.
The achievement reflects the National Laboratory's efforts to establish infrastructure to support research, development, and innovation. It also highlights the training and qualification of national talents in designing and manufacturing electronic chips through KACST's Saudi Semiconductor Program.
The successful localization of this technology enhances the Kingdom’s global competitiveness and aligns with the Saudi Vision 2030 objectives to achieve industrial and technological leadership. It boosts local content in non-oil sectors, contributing to economic diversification and sustainable development.
The blue LED technology offers promising solutions in modern lighting by reducing energy consumption by up to 80%, increasing efficiency to 200 lumens per watt compared to traditional bulbs' 16 lumens per watt, and extending lifespan by 20 times compared to conventional technologies.
The technology helps reduce electronic waste and lowers greenhouse-gas emissions by more than six times, making it a key pillar in supporting global efforts to combat climate change and achieve sustainable development goals (SDGs) in Saudi Arabia.



Getty Images and Shutterstock to Merge, Forming $3.7 billion Stock Image Giant

Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo
Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo
TT

Getty Images and Shutterstock to Merge, Forming $3.7 billion Stock Image Giant

Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo
Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo

Getty Images said on Tuesday it will merge with rival Shutterstock to create a $3.7 billion stock image powerhouse in a deal that would help the companies navigate the AI era, but likely attract antitrust scrutiny.

Shutterstock's shares were up 9.9% in premarket trading, while shares of Getty Images were up 18.7%, according to Reuters.

The combined company will be named Getty Images Holdings Inc and will continue to trade on the New York Stock Exchange under the ticker symbol "GETY".

At close, Getty Images' CEO, Craig Peters, will serve as CEO of the combined company.

Getty competes with Reuters and the Associated Press in providing photos and videos for editorial use.