SINGAPORE, Sept. 30, 2024 /PRNewswire/ -- MediSun Energy and
MOAJ Holding are pleased to announce the formation of MediSun
Arabia, a joint venture designed to drive innovative energy
solutions and tackle water scarcity in Saudi Arabia. As part of this strategic
partnership, MOAJ Holding will invest USD 30
million to establish a cutting-edge manufacturing facility
and co-develop a Saudi Brine Management Program with MediSun
Energy.
The venture will include the construction of a manufacturing hub
to produce MediSun's WEGen stacks, critical components supporting
renewable energy projects across the region. This facility will
boost local industrial capabilities and play a central role in
Saudi Arabia's renewable energy
transition, aligning with Saudi Vision 2030. Additionally, MOAJ
Holding will be the exclusive distributor of MediSun Energy's
technologies throughout the Gulf Cooperation Council (GCC),
expanding MediSun's footprint in the Middle East.
Together, the partners will spearhead the Saudi Brine Management
Program in collaboration with a leading academic institution
renowned for its desalination research. This ambitious R&D
initiative aims to address the environmental challenges of
desalination brine by developing cutting-edge treatment
technologies aligned with Saudi
Arabia's sustainability goals.
Dusun Kim, CEO of MediSun Energy, commented, "This joint
venture marks a significant milestone for MediSun Energy as we
expand operations in Saudi Arabia.
Our WEGen technology, which harnesses Reverse Electrodialysis (RED)
to efficiently convert saltwater into electricity, will play a key
role in advancing Saudi Arabia's
sustainability targets by generating clean energy and reducing
consumption. With MOAJ as our partner in the GCC, we look forward
to a long-term partnership that drives meaningful impact."
HE Mohammed N. Al Jasser,
Founder of MOAJ Holding, added, "We are excited to partner with
MediSun Energy in this transformative joint venture. Our shared
vision for advancing sustainable energy and water management in
Saudi Arabia highlights the
significance of this collaboration. MediSun's WEGen technology,
which enhances energy efficiency while producing clean power, is
aligned with the region's sustainability goals. Together, we are
dedicated to delivering these innovative solutions to the broader
Middle East market."
This joint venture positions both MOAJ and MediSun as key
players in addressing the region's water and energy challenges,
aligned with Saudi Arabia's Vision
2030 for a sustainable future.
About MediSun Energy
MediSun Energy is a technology-driven company focused on
providing innovative, clean energy solutions. Its flagship WEGen
technology leverages osmotic power to enhance energy efficiency in
water desalination and renewable energy generation. Committed to a
net-carbon neutral future, MediSun delivers sustainable, practical
solutions that align with the global vision for a greener
planet.
About MOAJ Holding
MOAJ Holding is a leading investment group with a focus on
sustainable development across key sectors including energy,
technology, and infrastructure. In line with Saudi Arabia's Vision 2030, MOAJ invests in
transformative projects that promote economic diversification and
environmental sustainability.
Photo -
https://mma.prnewswire.com/media/2516942/ARW_42403102720.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/moaj-holding-invests-30m-in-joint-venture-with-medisun-energy-to-tackle-water-scarcity-and-brine-challenges-in-saudi-arabia-302261088.html