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Aramco signs five agreements with French firms

Aramco

Saudi Aramco has signed five agreements with French companies working in the hydrogen field.

Aramco said that an agreement to explore business opportunities in hydrogen-powered vehicles was signed with Gaussin, a pioneer in clean and smart transportation solutions.

The agreements were signed during workshops organized by the Ministry of Investment in Jeddah to explore investment opportunities for French companies in the Kingdom.

The signing of the agreements was attended by the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, the Minister Plenipotentiary for Foreign Trade and Economic Attraction of France, Franck Riester, and the President and Chief Executive Officer of Saudi Aramco, Eng. Amin bin Hassan Al-Nasser, and a number of company officials and heads of French companies.

Hydrogen-powered vehicles

The agreement between Aramco and Gaussin aims to establish a modern facility for the manufacture of hydrogen-powered vehicles in the Kingdom.

As a first step, Gaussin and Saudi Aramco will study the feasibility of this facility and hydrogen distribution business to serve the Middle East region.

The two companies agreed that Saudi Aramco Innovation Center (LAB7) would be closely involved in the efforts of the hydrogen-powered vehicle manufacturer Gaussin, and the development of a hydrogen-powered autonomous or remote-controlled racing truck.

LAB7, a laboratory currently being built by Saudi Aramco to develop innovation, will contribute to the integration of the company’s composite materials into the current range of products produced by Gaussin to reduce the weight, energy consumption and costs of these compounds.

Saudi Aramco is set to sponsor the world’s first hydrogen-fueled race truck developed by Gaussin, and will compete in the 2022 Dakar Rally to be held in the Kingdom next January.

Saudi Aramco’s sponsorship of the Gaussin truck participating in the Dakar Rally aims to highlight the importance of developing low-emissions transportation technologies.

Other agreements announced today also aim to enhance research and development at Saudi Aramco in the areas of carbon capture technology, artificial intelligence, and local manufacturing.

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