Latest news with #OilSustainabilityProgram
Asharq Al-Awsat
22-04-2025
- Automotive
- Asharq Al-Awsat
OSP Signs MoU with Hyundai Motor Company to Advance Technological Innovation in Sustainable Mobility
OSP (Oil Sustainability Program) signed a Memorandum of Understanding (MoU) with Hyundai Motor Company in Seoul, South Korea, marking a significant step towards strengthening innovation in the transportation sector and promoting the adoption of advanced, environmentally friendly technological mobility solutions. The MoU outlines the development of advanced automotive technologies, including enhancements to hybrid powertrain systems, internal combustion engine (ICE) technologies, and emission aftertreatment systems (EAS), with the aim of improving fuel efficiency and reducing emissions. The MoU also includes supporting innovations that enable the building of a sustainable mobility ecosystem that contributes to quality of life. The collaboration supports the Kingdom of Saudi Arabia's broader environmental vision through the deployment of advanced technologies and innovations in the transportation sector, while advocating for effective practices across different mobility solutions to help reach net zero ambitions. It also reflects the shared commitment of both countries to push boundaries of innovation and advance more efficient and sustainable mobility solutions.
Trade Arabia
22-04-2025
- Automotive
- Trade Arabia
OSP, Hyundai sign MoU for sustainable transport
The Oil Sustainability Program (OSP) signed a memorandum of understanding (MoU) with Hyundai Motor Company in Seoul, the capital of the Republic of Korea, aiming to accelerate innovation in the transportation sector and promote the adoption of environmentally friendly mobility solutions, reported SPA. The MoU includes the development of advanced vehicle technologies, such as enhanced hybrid powertrain systems, improvements to internal combustion engine (ICE) technologies, and innovations in emission treatment systems. These efforts aim to increase fuel efficiency and reduce environmental impact. The agreement also supports research initiatives designed to advance innovation, contribute to the development of a sustainable transportation system, and improve quality of life. This collaboration aligns with the goals of Saudi Vision 2030 to preserve the environment by supporting innovative technologies and effective practices within the transport sector. It reflects the shared commitment of both countries to delivering more efficient and sustainable mobility solutions.
Asharq Al-Awsat
22-04-2025
- Automotive
- Asharq Al-Awsat
Saudi Energy Ministry Signs MoU with Hyundai to Accelerate Sustainable Transportation
The Oil Sustainability Program (OSP), affiliated with Saudi Arabia's Energy Ministry, and Hyundai Motor Company signed on Monday a memorandum of understanding (MoU) in Seoul, South Korea, to accelerate innovation in sustainable transportation and promote eco-friendly mobility solutions. Under the agreement, both parties will collaborate on the development of advanced vehicle technologies, including improved hybrid powertrains, enhanced internal combustion engines, and innovative emission treatment systems. These advancements aim to boost fuel efficiency and reduce environmental impact. The MoU also supports joint research efforts to foster innovation, build a sustainable transportation ecosystem, and enhance quality of life. This partnership aligns with Saudi Vision 2030's environmental goals by championing cutting-edge technologies and best practices in the transport sector, reflecting a mutual commitment to more efficient and sustainable mobility. In 2020, Energy Minister Prince Abdul Aziz bin Salman launched the Oil Sustainability Program to sustain and develop the demand for hydrocarbons as a competitive energy source by raising its environmental and economic efficiency.
Leaders
21-04-2025
- Automotive
- Leaders
OSP, Hyundai Motor Sign MoU to Drive Sustainable Transport Innovation
The Oil Sustainability Program (OSP) and Hyundai Motor Company have signed a memorandum of understanding (MoU) in Seoul, South Korea, to accelerate innovation in sustainable transportation and promote eco-friendly mobility solutions. Under the agreement, both parties will collaborate on the development of advanced vehicle technologies, including improved hybrid powertrains, enhanced internal combustion engines, and innovative emission treatment systems. These advancements aim to boost fuel efficiency and reduce environmental impact. The MoU also supports joint research efforts to foster innovation, build a sustainable transportation ecosystem, and enhance quality of life. This partnership aligns with Saudi Vision 2030's environmental goals by championing cutting-edge technologies and best practices in the transport sector, reflecting a mutual commitment to more efficient and sustainable mobility. Related Topics : Prince Sultan University Leads AI Innovation, Women Empowerment Saudi Arabia Showcases Water Management Innovations at AIWW 2024 Transport Authority Boosts Saudi Arabia's Global Logistics, Innovation Hub Status Hyundai Motor, Kia Unfold New Chapter with Misk Foundation to Empower Saudi Leaders Short link : Post Views: 8 Related Stories
ME Construction
29-01-2025
- Business
- ME Construction
NovusCrete to pioneer green concrete initiative
Sustainability NovusCrete to pioneer green concrete initiative By This initiative aligns with the goals of Saudi Vision 2030, which aims to strike a balance between economic growth and environmental sustainability Saudi Arabia's Oil Sustainability Program (OSP) has announced the launch of a new consortium in collaboration with NEOM and a raft of selected international partners, NovusCrete. This initiative aligns with the goals of Saudi Vision 2030, which aims to strike a balance between economic growth and environmental sustainability. The consortium partners include the Kingdom's sovereign wealth fund PIF (Public Investment Fund), the Saudi Investment Recycling Company (SIRC), as well as leading Swiss specialty chemicals company Sika and US-based startup ClimateCrete. The move is aimed at developing sustainable and innovative technologies in concrete production, focusing on reducing the carbon footprint of the construction sector and enhancing the environmental efficiency of the materials used. The new consortium is supported by leading local and international entities, including the American Concrete Institute (ACI), which established 'Committee 243 – Seawater Concrete', responsible for developing reports, guidelines, standards and codes on the use of seawater in concrete. The agreement was signed by the consortium partners in the presence of Prince Abdulaziz bin Salman bin Abdulaziz, the Minister of Energy as well as Chairman of the OSP Supervisory Committee. The NovusCrete Consortium, led by OSP, aims to develop standards and codes on the use of seawater in concrete and promote sustainability in the building and construction sectors by recycling waste, extending infrastructure lifespan, and reducing the environmental impact of the sectors. According to OSP, the consortium marks a strategic milestone in fostering innovation and advancing sustainable development through the adoption of cutting-edge solutions designed to meet future demands. Prince Abdulaziz bin Salman bin Abdulaziz commented: 'The consortium focuses on creating new opportunities for the building and construction sector, the manufacturing sector and the Saudi value chain, and supporting the development of new technologies that can deliver sustainability and cost benefits.' The consortium seeks to accelerate technological advancements in sustainable concrete solutions, while giving priority to localisation, via the use of seawater, polymer-based materials, recycled construction and demolition waste. Through this collaboration, members aim to facilitate the adoption and expansion of seawater concrete applications, reinforced with Glass Fiber Reinforced Polymer (GFRP) rebars and other sustainable materials in the building and construction sector. The participating parties aim to empower the local construction sector by focusing on environmental protection, driving innovation, and supporting the local economy – efforts led by OSP.
