MA'ADEN and GlassPoint sign a Memorandum of Understanding ("MOU") to develop the world's largest solar process steam plant
PR96302
RIYADH, Saudi Arabia, June 2, 2022 /PRNewswire=KYODO JBN/ --
-- Saudi Arabia's leading mining company signs an MOU to facilitate the study
to develop the first solar steam project in the kingdom to decarbonize
MA'ADEN's alumina refinery
Saudi Arabian Mining Company (MA'ADEN), Saudi Arabia's national mining champion
and one of the fastest-growing mining companies in the world, and GlassPoint,
the leader in industrial solar steam, have entered into a Memorandum of
Understanding to develop the world's largest solar process heat plant at
MA'ADEN's Alumina refinery. When complete, the 1,500 MW solar steam facility
will help MA'ADEN achieve sustainability goals by reducing carbon emissions by
over 600,000 tons annually. This represents more than 50% reduction of carbon
footprint in MA'ADEN's Alumina refinery and 4% of MA'ADEN's overall carbon
footprint.
Logo - https://mma.prnewswire.com/media/1829788/glasspoint_logo_Logo.jpg
The MOU was signed at MA'ADEN HQ in Riyadh, Saudi Arabia by Riyadh Al Nassar,
senior vice president of MA'ADEN's aluminum business and Rod MacGregor, CEO and
founder of GlassPoint, witnessed by Robert Wilt, CEO of MA'ADEN and Jacob
Drejer, CCO of GlassPoint.
Robert Wilt, CEO of MA'ADEN stated: "As the third pillar of the Saudi economy,
we aspire to be a role model in ESG in the Kingdom. This significant
development will dramatically reduce our carbon footprint and bring us closer
to our mandate of carbon neutrality by 2050. As the world moves towards green
aluminum, MA'ADEN intends to help lead the way in this transition."
Riyadh Al Nassar, SVP Aluminum SBU of MA'ADEN stated: "The proposed new
facility, a solar thermal plant known as MA'ADEN Solar 1, will be located in
Ras al Khair, Kingdom of Saudi Arabia, and will harness the power of the sun to
produce steam. The steam will be used to refine bauxite ore into alumina.
Alumina is a critical feedstock to Aluminum, which is one of the world's most
crucial metals for many global industries going into a future that is focused
on environment and sustainability."
"MA'ADEN is leading the way to reduce industrial carbon emissions at scale by
replacing fossil fuels with solar power to create heat. This facility when
built will be the largest industrial solar steam plant in the world and the
first deployed in both Saudi Arabia and in the aluminum supply chain," said Rod
MacGregor, CEO and founder of GlassPoint. "With this MOU, GlassPoint is
entering a new phase of growth to help decarbonize a range of industries
seeking to lower their carbon footprint."
Under this arrangement, MA'ADEN and GlassPoint will work together developing a
more sustainable way to produce aluminum, which is a crucial metal for many
global industries and the energy transition. This MOU also represents
GlassPoint's reemergence as a leader in solar process heat.
As a global energy producer, Saudi Arabia is committed to advancing the fight
against climate change. The Kingdom has unveiled the Saudi Green Initiative
(SGI) to help the country become an international leader in sustainability.
Last year, the SGI unveiled a first wave of more than 60 initiatives, amounting
to a SAR 700 billion ($186B US) investment to accelerate the green economy
across Saudi Arabia and beyond.
To learn more about MA'ADEN, visit: https://www.maaden.com.sa/
To learn more about GlassPoint, visit: https://www.glasspoint.com/
About GlassPoint
GlassPoint decarbonizes the production of materials essential to the energy
transition and makes a substantial impact combating climate change. The company
builds, owns and operates large-scale solar steam facilities to reduce carbon
emissions in hard-to-abate industries such as mining and metals, chemicals,
construction materials, desalination and more. GlassPoint is the only solution
proven at scale to reduce carbon emissions from industrial process heat and has
built more than half of the solar steam capacity in the world. Learn more at
glasspoint.com.
About MA'ADEN
MA'ADEN operates the largest and most efficient vertically integrated aluminum
complex in the world in Ras Al Khair on Saudi Arabia's east coast. MA'ADEN's
mine-to-market aluminum business comprises the Al Ba'itha mine and fully
integrated refinery, smelter, rolling and export facilities in Ras Al Khair.
MA'ADEN provides high-quality billets, ingots, slabs and flat-rolled aluminum
products to customers across the globe, including multinational automakers and
consumer brands.
SOURCE GlassPoint
CONTACT: glasspoint@methodcommunications.com
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