New Saudi Aramco venture to target energy technologies

Dhahran Saudi Arabia – Saudi Aramco has launched of a new corporate venturing subsidiary Saudi Aramco Energy Ventures LLC (SAEV), which is to will “invest in technologies of strategic importance” to the company.

Headquartered in Dhahran, and with offices in North America and Europe, SAEV’s mission is to invest globally in start-up and high-growth companies with technologies of strategic importance to its parent, Saudi Aramco.

Target investment areas include upstream and downstream technologies, renewable energy, water and energy efficiency technologies, the company said.

“Saudi Aramco Energy Ventures represents a significant step forward in our corporate transformation to become the world’s leading integrated energy company with innovation as a key attribute,” said Khalid A. Al-Falih, president and CEO, Saudi Aramco.

“As we continue to address long-term energy challenges, SAEV will help us more effectively engage with the global community of innovators and entrepreneurs who are increasingly important enablers of growth and value in our industry through the development of leading-edge technologies.”