GlassPoint, the global pioneer in decarbonizing industrial process heat, announced a collaboration with the Saudi Ministry of Investment (MISA) to establish a solar manufacturing plant and technological showcase in Saudi Arabia's Eastern Province.
At full capacity, the factory will produce enough renewable energy technology annually to generate 5,000 tons of solar steam each day, enough to offset four million MMBtus of gas and reduce carbon emissions by 200,000 tons each year. Technology manufactured in the facility will be used for projects in the metals & mining, building materials and additional industrial sectors. Last year, GlassPoint signed an MOU with the Saudi Arabian Mining Company (MA'ADEN) to develop the world's largest solar process steam plant. The manufacturing facility will also support technology exports throughout the region, while helping to further diversify the Kingdom's economy and deepen its leadership as a technology export hub, as per GlassPoint.
MISA will give support and advice as part of the collaboration. GlassPoint will supply technology and operational experience, beginning with the deployment of the only proven at scale solution to decarbonize industrial heat.
H. E. Khalid Al-Falih, the Saudi Minister of Investment, stated: "Saudi Arabia is committed to leading the region in economic development as well as sustainability. Our partnership with GlassPoint demonstrates important progress in doing both, while also diversifying our economy, strengthening supply chains and deepening high-tech leadership."
Asaad H. Aljomoai, M.D. Global Supply Chain Resilience Initiative stated: "MISA's partnership with GlassPoint will deepen the Kingdom's leadership in climate technology across the region. The new factory will play an important role in building some of the largest solar thermal projects in the world and also will create a new export market to advance renewable energy projects beyond our borders."