MA’ADEN and GlassPoint sign a Memorandum of Understanding (“MOU”) to develop the world’s largest solar process steam plant

Saudi Arabia’s leading mining company signs an MOU to facilitate the review to acquire the first photo voltaic steam challenge in the kingdom to decarbonize MA’ADEN’s alumina refinery

RIYADH, Saudi Arabia, June 2, 2022 /PRNewswire/ — Saudi Arabian Mining Corporation (MA’ADEN), Saudi Arabia’s national mining champion and just one of the fastest-increasing mining organizations in the environment, and GlassPoint, the leader in industrial photo voltaic steam, have entered into a Memorandum of Understanding to establish the world’s major solar method heat plant at MA’ADEN’s Alumina refinery. When finish, the 1,500 MW photo voltaic steam facility will aid MA’ADEN realize sustainability aims by decreasing carbon emissions by around 600,000 tons annually. This signifies far more than 50% reduction of carbon footprint in MA’ADEN’s Alumina refinery and 4% of MA’ADEN’s in general carbon footprint.

MA’ADEN and GlassPoint signal MOU to establish the world’s major solar procedure steam plant

The MOU was signed at MA’ADEN HQ in Riyadh, Saudi Arabia by Riyadh Al Nassar, senior vice president of MA’ADEN’s aluminum company 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 economic system, we aspire to be a role product in ESG in the Kingdom. This major progress will substantially decrease our carbon footprint and bring us closer to our mandate of carbon neutrality by 2050. As the earth moves to environmentally friendly aluminum, MA’ADEN intends to support lead the way in this transition.”

Riyadh Al Nassar, SVP Aluminum SBU of MA’ADEN mentioned: “The proposed new facility, a solar thermal plant known as MA’ADEN Solar 1, will be found in Ras al Khair, Kingdom of Saudi Arabia, and will harness the electricity of the sunlight to deliver steam. The steam will be applied to refine bauxite ore into alumina. Alumina is a important feedstock to Aluminum, which is 1 of the world’s most essential metals for many worldwide industries likely into a future that is concentrated on ecosystem and sustainability.”

“MA’ADEN is major the way to lower industrial carbon emissions at scale by replacing fossil fuels with photo voltaic electricity to produce warmth. This facility when built will be the major industrial solar steam plant in the earth and the initial deployed in both equally Saudi Arabia and in the aluminum offer chain,” explained Rod MacGregor, CEO and founder of GlassPoint. “With this MOU, GlassPoint is getting into a new phase of progress to enable decarbonize a assortment of industries trying to find to lessen their carbon footprint.”

Underneath this arrangement, MA’ADEN and GlassPoint will get the job done with each other building a much more sustainable way to develop aluminum, which is a very important metal for lots of world-wide industries and the electrical power changeover. This MOU also signifies GlassPoint’s reemergence as a chief in photo voltaic approach warmth.

As a international electrical power producer, Saudi Arabia is fully commited to advancing the battle against local weather improve. The Kingdom has unveiled the Saudi Environmentally friendly Initiative (SGI) to aid the place come to be an global chief in sustainability. Very last 12 months, the SGI unveiled a first wave of extra than 60 initiatives, amounting to a SAR 700 billion ($186B US) investment to speed up the green economy across Saudi Arabia and outside of.

To find out additional about MA’ADEN, pay a visit to: https://www.maaden.com.sa/
To discover extra about GlassPoint, stop by: https://www.glasspoint.com/

About GlassPoint

GlassPoint decarbonizes the creation of components important to the electricity transition and makes a substantial affect combating local climate adjust. The business builds, owns and operates substantial-scale solar steam facilities to decrease carbon emissions in tough-to-abate industries these as mining and metals, chemical compounds, design materials, desalination and much more. GlassPoint is the only remedy established at scale to cut down carbon emissions from industrial system warmth and has developed additional than 50 percent of the photo voltaic steam potential in the earth. Learn additional at glasspoint.com.

About MA’ADEN

MA’ADEN operates the major and most economical vertically built-in aluminum elaborate in the earth in Ras Al Khair on Saudi Arabia’s east coast. MA’ADEN’s mine-to-market aluminum business contains the Al Ba’itha mine and fully built-in refinery, smelter, rolling and export amenities in Ras Al Khair. MA’ADEN presents high-high quality billets, ingots, slabs and flat-rolled aluminum merchandise to customers across the world, which include multinational automakers and buyer brand names.