The Saudi Arabian Oil Company announced the signing of five agreements with top French firms, including one to develop a hydrogen car business with Gaussin, a pioneer in clean and intelligent transportation solutions.
The agreements were signed during a meeting in Jeddah convened by the Ministry of Investment to discuss investment potential in Saudi Arabia for French companies. H.E. Khalid Al Falih, Saudi Arabia’s Minister of Investment, and H.E. Franck Riester, France’s Minister Delegate for Foreign Trade and Economic Attractiveness, attended the ceremony, as did Aramco President and CEO Amin H. Nasser.
Amin H. Nasser, Aramco President and CEO, said: “This partnership is a continuation of Aramco’s long-standing relationship with a number of leading French companies. It represents an opportunity to promote hydrogen as a low-carbon solution, not just for motorsport, but eventually for mass transportation as well. Such collaboration helps us to advance economic growth in the Kingdom as part of the Namaat industrial investment program and takes us a step closer to our shared vision of a more sustainable future.”
The deal between Aramco and Gaussin intends to create a modern production plant in the Kingdom of Saudi Arabia for on- and off-road hydrogen-powered vehicles. Gaussin and Aramco will begin by evaluating the viability of establishing a production facility and a hydrogen distribution business in the Middle East region.
Additionally, the two firms agreed that Aramco’s Advanced Innovation Center (LAB7) would collaborate closely with Gaussin on the development of hydrogen-powered cars and a remote-controlled/autonomous hydrogen racing truck. LAB7’s objective is to incorporate Aramco’s composite materials into Gaussin’s existing product line in order to minimize the vehicle’s weight, energy usage, and cost.
Aramco will also finance the world’s first hydrogen-fueled racing truck, manufactured by Gaussin and set to compete in the Saudi Arabian Dakar Rally in 2022. Aramco’s funding of Gaussin’s participation in the Dakar Rally demonstrates Aramco’s commitment to advancing low-emission transportation technology.
Additional Memorandums of Understanding
Additional partnerships announced today aim to advance Aramco’s research and development efforts in the fields of carbon capture technologies, artificial intelligence, and indigenous manufacturing. Among the memorandums of understanding are the following:
- Air Liquide – Non-binding memorandum of understanding to examine low-carbon hydrogen and ammonia production, logistics, and backcracking technology, as well as a separate non-binding memorandum of understanding to evaluate Carbon Capture and Sequestration (CCS) prospects.
Alteia — Non-binding Memorandum of Understanding to develop sophisticated artificial intelligence-driven capabilities for geospatial image interpretation and processing in the Kingdom of Saudi Arabia.
Axens – non-binding memorandum of understanding to investigate the local manufacturing and maintenance of furnaces and fired heaters.
