KAUST spin-out company NOMADD, which specializes in robotic PV cleaning systems, has secured a Series B investment from Saudi construction company CEPCO. The investment will support NOMADD's project pipeline and growth ambitions, enabling them to scale operations and serve more customers. CEPCO will also advise on technology development and local manufacturing in Saudi Arabia. Why it matters: This investment validates KAUST's innovation fund strategy and supports the deployment of sustainable energy solutions in the region, leveraging local expertise and manufacturing.
NOMADD, a KAUST startup, offers a waterless and remotely operated system to clean solar panels, addressing the challenge of dust accumulation which can reduce solar panel efficiency by 0.4-0.8% daily. KAUST recently signed its first royalty-bearing license agreement for the NOMADD system. The fifth version of the NOMADD system is 70% lighter and uses less than half the power of previous versions, while also being cheaper to manufacture. Why it matters: This technology is crucial for Saudi Arabia to achieve its ambitious goal of generating a third of its electricity from solar power by 2032, amidst the challenges posed by desert dust.
KAUST hosted the 2015 Arabian Tech Tour, a regional version of an international event for venture capitalists, entrepreneurs, and industry leaders. The event featured 50 early-stage companies from 15 countries pitching to over 100 representatives from global investment and venture capital firms. Total assets under management of attending investors were estimated at around $10 billion. Why it matters: This event highlights KAUST's role in fostering innovation, attracting knowledge-based industries to Saudi Arabia, and creating high-value jobs in the Kingdom.
KAUST spinout Sadeem, which develops wireless environmental sensing systems, has secured $2.6 million in co-investment from the KAUST Innovation Fund and Saudi Aramco's Wa'ed Ventures. The funding will support product updates, development of new monitoring technologies, and business development. Sadeem's technology is used in cities including Mexico City and Texas for flood, traffic, weather, and air quality monitoring. Why it matters: The investment highlights the growing venture capital ecosystem in Saudi Arabia and will allow Sadeem to further develop its sensor technology for environmental monitoring and disaster prevention.
KAUST and NEOM have signed an agreement to establish the KAUST-NEOM Center of Excellence for NEOM Research at KAUST. The center will focus on solutions for challenges in sustainable energy, urban planning, agriculture, seismology, water desalination, AI, big data, and sensors. NEOM will be backed by over $500 billion in funding. Why it matters: The partnership signifies a major investment in R&D and technological innovation within Saudi Arabia, aligning with the Kingdom's vision for economic diversification and development of cutting-edge technologies.