Saudi Aramco

Moving industry forward with next-gen advancements in energy storage and transmission

Alternative Energy

Form Energy develops long-duration utility-scale energy storage applications to bridge renewable energy supply gaps. Form’s batteries last for around 100 hours, compared to conventional lithium-ion batteries used in utility-scale storage projects that last for only five to 10 hours. Form Energy’s co-founder, Mateo Jaramillo, was the former director of Tesla's stationary storage business.In July 2021, Form Energy unveiled its first long-duration energy storage solution to be commercialized. The product is a rechargeable iron-air battery. Form’s proprietary technology, known as “<a href="https://www.youtube.com/watch?v=Ui6wWzxCrQ8">reversible rusting</a>,” uses oxygen from ambient air to turn iron metal to rust when discharging (Fe + O2 + H2O = Fe(OH2) + energy). While charging, the electrical current converts the rust back to iron. The company claims its battery would cost 1/10th of the cost of conventional lithium-ion batteries.&nbsp;Form Energy invested USD 760 million to build its first iron-air battery manufacturing facility facility in West Virginia. The 1 million sq.ft. facility will have an annual production capacity of 500 MW of batteries when in full operation. Construction of the facility began in May 2023, following which it will begin manufacturing iron-air battery systems for commercialization in 2024.Key customers and partnershipsIn <a href="https://sp-edge.com/updates/15524">December 2022</a>, Form Energy partnered with the state of West Virginia to build its first iron-air battery manufacturing facility. In <a href="https://sp-edge.com/updates/8400">February 2022</a>, Form Energy partnered with Georgia Power, a subsidiary of Southern Company, to commercially deploy a 15-megawatt project of energy storage systems.&nbsp;In <a href="https://sp-edge.com/updates/15973">January 2023</a>, the company partnered with Xcel Energy to deploy its iron-air battery systems at two of Xcel Energy’s retiring coal plant sites. The sites are expected to become operational in 2025. In <a href="https://sp-edge.com/updates/22692">September 2023</a>, Form Energy partnered with Dominion Energy Virginia to carry out a pilot project to test two potential alternatives to lithium-ion batteries: Form Energy’s iron-air batteries and Eos Energy’s zinc-hybrid batteries. In&nbsp;<a href="https://sp-edge.com/updates/34658">October 2024</a>, the company partnered with GE Vernova to expand its manufacturing operations and commercial deployment of its iron-air battery systems.Funding and financialsForm Energy’s latest funding was in <a href="https://sp-edge.com/updates/24967">December 2023</a>, when it was awarded a grant of USD 30 million from the California Energy Commission. The company planned to use the funds in the development and operation of its first project in California, a 5 MW/500 MWh multi-day energy storage system. The system was expected to be functional by 2025. Prior to this, in <a href="https://sp-edge.com/updates/21163">August 2023</a>, Form Energy received a USD 12 million grant from the New York State Energy Research and Development Authority (NYSERDA), to deploy a 10 MW/1,000 MWh iron-air battery system in New York. The system was expected to be functional by 2026.In October 2022, Form Energy raised USD 450 million in a <a href="https://sp-edge.com/updates/13524">Series E funding round</a> led by TPG Rise. The company plans to use the funds raised to accelerate its plans to develop a globally competitive battery manufacturing supply chain in the US. Prior to this in August 2021, Form Energy raised USD 240 million in a <a href="https://sp-edge.com/updates/5130">Series D funding round</a> led by the XCarb innovation fund, an initiative of ArcelorMittal.Competitors: None comparable (Only company developing 100+ hour energy storage)

Additive manufacturing makes objects by systematically adding material via a CAD program

Additive Manufacturing

Desktop Metal provides a range of additive manufacturing (AM) solutions including the sale of 3D printers with related software and materials as well as other related services targeting applications including rapid prototyping, pilot runs, mass production of tools, end-use parts, and aftermarket parts. The company mainly serves industries such as automotive, consumer goods, heavy industry, education, machine design, healthcare, and manufacturing tooling.Desktop Metal’s products include 1) Production System, a metal 3D printer for mass production; 2) X-Series, a binder jet 3D printer with patented Triple ACT (advanced compaction technology) and specialty materials including metals and ceramic; and 3) Shop System, a metal binder jetting system targeting metal 3D printing at machine shops, which also includes <a href="https://sp-edge.com/updates/12724">Shop System+, and Shop System Pro packages </a>introduced in August 2022 and <a href="https://sp-edge.com/updates/14160?industryIds=71">Shop System Forust Edition, </a>a high-speed 3D printer for upcycled wood parts; 4) Studio System 2, an office-friendly metal 3D printer; 5) Fiber; a composite 3D printer using thermoplastic material such as nylon and 6) <a href="https://sp-edge.com/updates/12867?industryIds=71">Figur G15, </a>a printer platform based on patent-pending Digital Sheet Forming (DSF) technology that fabricates sheet metal into parts with a high level of surface finish with little to no post-printing.Desktop Metal also offers <a href="https://sp-edge.com/updates/12723">Live Sinter software </a>—a sinter simulation software that allows the design of sinter-ready, printable parts.. In March 2023, it launched <a href="https://sp-edge.com/updates/16892?industryIds=71">Live Suite, </a>a premium software package to offer advanced design capabilities for metal, polymer, and ceramic parts. In September 2023, it launched <a href="https://sp-edge.com/updates/22343">Live Monitor, </a>an Industry 4.0 solution for users to monitor and use real-time data to improve efficiency.Desktop Metal has grown through the acquisition of several companies including binder jetting technology company ExOne (November 2021), AM company AIDRO hydraulics &amp; 3D printing (September 2021), powder-based material AM company Aerosint (July 2021), provider of printed elastomers for AM Adaptive3D (May 2021), and polymer AM company EnvisionTEC (January 2021) to expand its material and printer offerings.In October 2023, the company sold Belgian additive manufacturing solutions provider <a href="https://sp-edge.com/updates/23189">Aerosint SA </a>to motion technology company Schaeffler. Desktop Metal maintained its collaboration with Schaeffler in advancing binder jet 3D printing technology, while retaining the option for future commercial utilization.In July 2024, the entire company was <a href="https://sp-edge.com/updates/31161">acquired by Nano Dimension</a> for ~USD 183 million in an all-cash transaction. Key customers and partnershipsDesktop Metal operates through an internal sales team and a network of 200+ distribution partners (value-added resellers) in over 65 countries. Its customers include small and medium enterprises as well as Fortune 500 companies. The company received a major <a href="https://sp-edge.com/updates/14615?industryIds=71">contract </a>from the US Department of Veterans Affairs in November 2022. In October 2022, Desktop metal partnered with <a href="https://sp-edge.com/updates/13694?industryIds=71">Siemens </a>to accelerate the adoption of additive manufacturing at scale specifically targeting large-scale manufacturers. The company also entered into materials-related partnerships with Carbon in July 2023 to make Flexcera resins available to users of Carbon's 3D printers as well as with Henkel in August 2022 to validate Henkel's materials for DM printers. In March 2024, Desktop Metal expanded its partnership with Evonik, a chemical manufacturer, to integrate the latter’s INFINAM solution into its portfolio of polymers.

Using real-time data to create dynamic virtual representations of the real world

Digital Twin

Norway-based Cognite is a provider of digital twin modeling software for an entire operation through complex industrial data. With machine learning and physics simulators, companies are able to use these for predictive maintenance, production optimization, and better decision-making.&nbsp;Its main solution Cognite Data Fusion offers an open industrial digital twin by integrating IT, operational, and engineering data from sources such as ERPs, MES, and IoT platforms. The data is cleaned and contextualized into a single location and turned into insights for actionable advice, which then is used to build and automate workflows. The company claimed to be the first company to <a href="https://sp-edge.com/updates/17445">achieve DNV-RP-A204 compliance </a>for its core product, Cognite Data Fusion.&nbsp;In <a href="https://sp-edge.com/updates/16217">February 2023</a>, the company advanced with new data-modeling capabilities to accelerate (up to 10–25x) deployments of industrial digital solutions and reduce cost and complexity for users. In <a href="https://sp-edge.com/updates/25399">January 2024</a>, the company launched the beta version of a GenAI remote operations control room at the Celanese facility to deliver real-time operational transparency.&nbsp;Key customers and partnershipsThe company provides its solution mainly to the oil and gas, power and utilities, and manufacturing sectors. Its key customers include Siemens and Rockwell Automation.&nbsp;The company had partnered with Microsoft in January 2024 to integrate Cognite Data Fusion with Microsoft Fabric and deliver an AI-powered industrial data operations solution. In June 2022, Cognite formed a joint venture, CNTXT, with Saudi Aramco to provide its digitization services in the Middle East region for the private and public sectors. Also, in October 2022, the company partnered with industrial automation company Rockwell Automation to develop an industrial data hub for the manufacturing sector by combining Rockwell’s software, FactoryTalk, and Cognite Data Fusion.Furthermore, in September 2022, the company partnered with Schlumberger to integrate Cognite Data Fusion to Schlumberger’s Enterprise Data Solution to contextualize data in an interoperable platform.&nbsp;Funding and financialsThe company raised USD 150 million in May 2021 in an equity funding round from TCV, which brought the valuation of the company to USD 1.6 billion. The funds were allocated toward expanding its platform to global industries.&nbsp;Furthermore, in January 2022, petroleum and gas company Saudi Aramco purchased 100% of Aker BP's shares in Cognite to own a majority stake of 7.4% at a value of USD 183 million.

Horse Powertrain helps to speed up the global transition to net zero. With over 900 million hybrid and combustion-powered vehicles expected on the road by 2040, no silver bullet exists for achieving sustainable mobility. In a global context, a combination of EVs and hybrid cars running on alternative fuels is required to meet climate targets.

Rongsheng Petrochemical produces, markets, and sells petrochemicals, chemical fibers, and other related products in China and internationally. It offers synthetic fibers and films, including fiber and film grade polyester chips, bottle grade polyester chips, polyester pre-oriented yarns, draw textured yarns, fully drawn yarns, and PET films; synthetic raw materials, such as purified terephthalic acids, ethylene oxides, triethylene glycol, diethylene glycol, ethylene glycol, and P-xylene; and synthetic resins comprising ethylene-vinyl acetate copolymers, high density polyethylene, low-density polyethylene, and polypropylene.  Rongsheng Petrochemical also provides olefins consisting of butene-1, hexene-1, butadiene, propylene, and ethylene; aromatics and phenols, including cumene, acetone, phenol, styrene, ethylbenzene, xylene, mixed aromatics, methylbenzene, and purified petroleum benzine; and acrylonitrile and special chemical products, such as dimethyl carbonate, methyl methacrylate, polycarbonate, bisphenol A, acetonitrile, and acrylonitrile. Moreover, it offers intermediate and chemical raw materials comprising iso-butane, n-butane, petroleum cokes, liquid argons, liquid ammonia, methanol, liquid petroleum gas, isooctane, methyl tert-butyl ether, industrial hexane, pentane foamer, industrial aromatic hydrocarbons, high-flash aromatic naphthas, ethylene bottom oils, splitting decomposition C9 and C5, and sulphur; and oil products, such as jet fuels, diesel, and gasoline.  Rongsheng Chemical Fiber Group that began operation in 1995 became Rongsheng Petrochemical in September 2007. It has its headquarters in Hangzhou in China as a subsidiary of Zhejiang Rongsheng Holding Group.

Geely-Renault Powertrain Co. develop and supply hybrid and internal combustion engines (ICE). It's a joint venture between Geely and Renault.

Utility Global is the develops of eXERO™, a gas production technology, aimed at achieving an affordable, beyond-net-zero, low-carbon future. The company has created a proprietary reactor that converts variable industrial process gases into high-purity hydrogen and a concentrated CO2 stream, all without the need for electricity. This system enables on-site carbon capture from a single cost-effective location. In the steelmaking industry, the hydrogen generated can be reused to replace coke, while the concentrated CO2 stream's purity makes carbon capture simpler and more economical—a key step in decarbonizing steel production.

Bonat is a customer retention management program that conveniently rewards, communicates with, and analyzes customer feedback. The company develops an innovative customer engagement SaaS solution. Through Bonat's solution, businesses can leverage real-time data and insights, obtain customer feedback and rating analyses, and communicate with them to develop a beneficial understanding of their customer experience.

Cognite is a global industrial AI Software-as-a-Service (SaaS) company supporting the full-scale digital transformation of heavy-asset industries around the world. The flagship product, Cognite Data Fusion (CDF), empowers companies with contextualized Operational and IT data to drive industrial applications that increase the safety, sustainability, and efficiency of industrial operations. Cognite makes industrial data accessible to all, from engineers in the field to data scientists in the office, empowering individuals and companies to create value from data and transform an industry. Founded in January 2017, Cognite today has more than 400 software developers, data scientists, designers, 3D specialists, and industry professionals across offices in Norway, the US, and Japan.

Arabian Robotics is a designer and developer of solutions for various industrial applications. They provide competitive robotic inspection and non-destructive testing services that include non destructive testing, pipe inspection, tank inspection, and vessel inspection. Arabian Robotics continuously develops highly effective technologies in collaboration with key international partners to provide its clients with trustworthy and affordable inspection solutions and services.

Taulia is a FinTech startup that provides working capital management and electronic invoicing services for supply chain companies. Its platform helps businesses to turn every invoice into a revenue opportunity using their cash or third-party cash to fund early payments, lower the barriers for e-invoicing participation by accepting all forms of electronic invoices without having to charge suppliers, and empower suppliers to be self-sufficient by giving them access to free self-service and management tool.

Hyundai Oilbank aims to contribute to the national economy and social development by faithfully fulfilling its original purpose and social responsibility. To this end, they are practicing a management philosophy that encompasses all stakeholders.

UnitX is a deep tech company that automates safety & security monitoring at industrial sites. Vizard, our patent-pending AI platform, leverages sensor data & video analytics to equip HSE & Security managers with real-time actionable insights. It detects life-threatening hazards such as worker falls, heat stress, etc., identifies and tracks workers, monitors restricted zones, and more. We help enhance worker safety, minimize incident risks and reduce operational costs while adhering to the highest levels of responsible AI and ethics. UnitX is an ISO certified company recognized by SDAIA & NVIDIA.

Form Energy develops and commercializes a low-cost battery system that can store wind and solar energy for a long duration. It aims to make batteries that can dispatch energy for days, expanding the ability to supply wind and solar power to the grid. The company's technology transforms the electric grid by making renewable energy dispatchable year-round, as well as extending transmission capacity without building new wires, and replacing the need for conventional thermal generation. Its core technology was invented at MIT and is supported by investors which include Breakthrough Energy Ventures, MIT’s The Engine, Macquarie Capital, Eni Next, Capricorn Investment Group, and Prelude Ventures. Their team members are active learners who like working on tough technology problems that can only be solved with a combination of scientific innovation and hard work.

Golden Scent is an online destination for genuine fragrances and beauty products.

1Pass, unique product by GetMuv focusing on Corporate Wellness.  Verified employees can access any gym with a single membership and pays on monthly basis.

IBOAT is a application that helps boat owners rent their boats to sea lovers with high-quality and safe trips through their smart phones.

Sadeem is a global marketplace to help data centers and hosting providers to sell simple cloud instances, through this market place the end users can locate the most proper Cloud Service Provider fits with their requirements.(AIRBNB for Data Centers).   To achieve this, they have developed a simple and a comprehensive cloud orchestration includes a Control Panel for VMs management with embedded billing system and ticketing system via a single portal. This will ease the service provisioning process to the customers and on the other hand will off-load the cost of integration with third party tools from the Service Providers.

NexWafe will supply high quality wafers to solar cell producers .Their wafers will be fully compatible with common cell and module fabrication .They will be available at a fraction of the cost of standard wafers.

Sihatech is the solution to the problem of lack of transparency and accountability in healthcare. They have developed a responsive website and two native applications on iOS and Android. Today, a small hospital or clinic can use Sihatech for all their Hospital Information System (HIS) needs and save all the hassle and trouble of working with a third party IT developer and paying thousands of riyals in server and development costs. Sihatech is a pure cloud player. They are focusing on the marketing and appointment booking aspects of the website and apps, but this is just the simple hook to get the doctors on board. Once they experience the robustness of their back end system and their innovative ideas, they will become loyal users. They are already being referred by their existing customers. They are now in the process of building a payment gateway that will allow their users to apply for micro-loans to finance certain medical procedures that are not typically covered by insurance and it will also allow small hospitals and clinics to manage their revenue cycle with insurance companies and their medical supply payments to their vendors (pharmacies, laboratories and equipment/consumables suppliers).  Sihatech’s vision is to become the MENA regions premium provider of technology solutions to the healthcare space to improve the access, accountability and quality in healthcare. Sihatech’s mission is to allow the hospitals, polyclinics and doctor practices to outsource all business and technology processes to be able to focus on treating the patient

Goal To be the leading provider of happiness and loyalty programs, fostering a culture of joy and satisfaction among employees Vision To create a workplace where every employee and customer thrives in an environment of shared happiness and loyalty Products WalaOffer WalaBravo WalaHub WalaPioneer WalaActive Walaone

PayTabs is an innovative new economy payment processing and fraud prevention company built to provide buyers and sellers an advanced technology to pay and get paid.

Desktop Metal is a leading provider of additive manufacturing technologies, materials, and applications for industrial, medical, and consumer product production. The company's innovative 3D printing systems, materials, and software enable on-demand, digital mass production that delivers the speed, cost-efficiency, and part quality required for this transformative shift in manufacturing.

OxyMem solves energy intensive wastewater treatment with an innovative ‘Drop in’ solution for wastewater aeration, the Membrane Aerated Biofilm Reactor (MABR). OxyMem MABR complements existing treatment systems and delivers up to 50% additional biological capacity in an existing aeration or alternatively enables you to replace a legacy system. Conventional wastewater treatment consumes 2-3% of a nation’s electricity production. This is due a 100 years reliance on bubble diffusion for conventional treatment plants which will typically suffer energy losses of 65-70% in the process because of the oxygen transfer limitations in the process. OxyMem does not have any such limitations. OxyMem uses hollow fibre gas permeable membranes to support a fixed film ecosystem for the biology which allows for direct delivery of oxygen to the micro-organisms. OxyMem can achieve 95% oxygen transfer rates which results in superior energy performance (75% saving), lower sludge production (50% less sludge), along with impressive process resilience.

Smart Controls Systems offers information technology, telecommunications, building management systems, electro-mechanical systems, access control and security systems, allied civil works, and hardware supplies. They offer IT expertise for mission-critical technology installations spanning from federal agencies to small businesses. It provides access control, BMS, and hardware services.

Organic Standards is a chemical manufacturing company that provides fertilizers, agricultural fertilizers, and organic pesticides. It also offers soil fertilizers, powders and granules, biofertilizers, liquid fungicides, rodenticides, and disinfectants.

Arabian Calibration Company is a company that offers both fixed and mobile calibration services for impartial liquid and flow meters. Clients have access to a self-governing calibration facility that complies with operational requirements through the company's services, which concentrate on the delivery of flow measurement, verification, and calibration services. This enables clients to get concise engineering for their meter calibrations.

Rive is a clean energy company, commercializing advanced catalyst technology for petroleum refining to dramatically increase the yield of transportation fuels produced per barrel of crude oil. The proprietary technology, invented at MIT, makes traditional zeolite catalysts more accessible to large hydrocarbon molecules, allowing increased production of gasoline and diesel fuel. Rive's new catalyst will fit readily into existing refineries and enable refiners to increase throughput and profitability with minimal capital investment.

The Saudi Arabian Oil Company (Saudi Aramco) is the state-owned oil company of the Kingdom of Saudi Arabia. It ranks first among oil companies worldwide in terms of crude oil production and exports, and natural gas liquids (NGL) exports, and is among the leading producers of natural gas. It is also known as refiners and are moving further downstream into chemicals production. The company was founded in 1930 and is headquartered in Dhahran, Saudi Arabia.

<div> The Saudi Arabian Oil Company (Saudi Aramco) is the state-owned oil company of the Kingdom of Saudi Arabia. It ranks first among oil companies worldwide in terms of crude oil production and exports, and natural gas liquids (NGL) exports, and is among the leading producers of natural gas. It is also known as refiners and are moving further downstream into chemicals production. The company was founded in 1930 and is headquartered in Dhahran, Saudi Arabia. </div>

Saudi Aramco maintains quarterly dividend at $31bn despite 15% drop in Q3 profit

Fueling the future: Tech powering the oil and gas value chain

Oil & Gas Tech

Hardware and software solutions leveraging robotics, AI, sensors, Big Data, and drones to automate and enhance the oil and gas field exploration, extraction, and drilling processes.

Platforms for monitoring pipeline networks, oil and gas wells, and storage tanks, utilizing AI, sensors, and aerial imagery for data-driven decision-making and optimization.

Solutions utilizing advanced analytics and real-time data to predict operational outcomes, optimize schedules, and deploy predictive maintenance strategies to improve operational efficiency and minimize cost.

Solutions that use technologies like quantum sensing and electromagnetic tech for the detection and containment of gas leaks and oil spills, ensuring environmental protection.

Solutions specializing in safely storing and transporting oil and gas through the use of camera systems, sensor technology, AUVs, and ROVs, with a focus on inspection, explosion risk detection, and efficient delivery.

Operators of marketplaces that connect players across the oil and gas industry, facilitating trading, price tracking, and the buying, selling, and leasing of oil rights.

Quantum information processing is slowly becoming a reality, ushering in a new technological era.

Quantum Computing

PROMINENT_CATEGORY

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 French quantum hardware startup Pasqal has entered a partnership with Aramco to set up and manage Saudi Arabia's first quantum computer. The specifics, including financial details of the agreement, have not been publicly disclosed.
 Under this agreement, Pasqal will deploy a 200-qubit quantum computer by the latter half of 2025. The initial setup will utilize "analog mode" technology, which will be later upgraded to "analog-digital mode" for enhanced problem-solving. Both firms aim to explore new applications for quantum computing and aspire to establish a quantum research center in Saudi Arabia.
 Prior to this, in <a href="https://sp-edge.com/updates/9029"> March 2022 </a>, Pasqal and Aramco had collaborated to develop quantum-enhanced solutions specifically for the energy sector and to grow Saudi Arabia’s quantum ecosystem.
 
</div>

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