Saudi Aramco signs 5 agreements with French firms, with 1 to explore hydrogen-powered vehicle business

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Saudi Arabian Oil Co. (Saudi Aramco) today, Dec. 5, announced signing five agreements with leading French companies, including an agreement to explore a hydrogen-powered vehicle business with Gaussin, a pioneer in clean and intelligent transport solutions.

The agreements were signed during an event in Jeddah, organized by the Ministry of Investment to explore investment opportunities for French companies in Saudi Arabia. The event was attended by Khalid Al Falih, Minister of Investment of Saudi Arabia and Franck Riester, Minister Delegate for Foreign Trade and Economic Attractiveness of France, along with Aramco President and CEO, Amin Nasser.

The agreement between Aramco and Gaussin aims to establish a modern manufacturing facility for on-road and off-road hydrogen powered vehicles in the Kingdom of Saudi Arabia. As a first step, Gaussin and Aramco will study the feasibility of a manufacturing facility and a hydrogen distribution business to serve the Middle East region.

The two companies also agreed that Aramco’s Advanced Innovation Center (LAB7) will be closely involved in Gaussin’s development of hydrogen-powered vehicles and the development of a remote controlled/autonomous hydrogen racing truck.

LAB7 aims to integrate Aramco’s composite materials into Gaussin’s existing range of products to reduce the weight, energy consumption and cost of these vehicles.

Aramco will also be sponsoring the world’s first hydrogen-fueled racing truck, which has been developed by Gaussin and which will compete in the 2022 Dakar Rally in Saudi Arabia. Aramco’s sponsorship of Gaussin’s participation in the Dakar Rally continues to promote low-emission transportation technology developments.

Other agreements announced today seek to further Aramco’s research and development in the areas of carbon capture technology, artificial intelligence and local manufacturing. The MoU’s include a non-binding MoU with Air Liquide to evaluate low Carbon hydrogen and ammonia production, logistics, and backcracking technology and an additional non-binding MoU to evaluate Carbon Capture & Sequestration (CCS) opportunities. A second non-binding MoU was inked with Alteia to develop advanced artificial intelligence driven geospatial imagery interpretation and processing capabilities in the Kingdom of Saudi Arabia.
 

The last one was signed with Axens to explore the local manufacturing and maintenance services of furnaces and fired heaters.