KAUST has announced the signing of an MoU with the Saudi Investment Recycling Company (SIRC), a wholly-owned subsidiary of the Public Investment Fund (PIF). This collaboration will promote SIRC’s commitment towards supporting KAUST startups as well as support for technology development projects and other ongoing R&D to accelerate the transformation of the Kingdom’s waste recycling sector towards vision 2030 goals.
The Kingdom of Saudi Arabia produces approximately 15 million tons of waste per year with much of it ending up in landfills. The “circular economy” concept holds that any form of solid waste can be recycled into products offering greater value or new functionality. The partnership between KAUST and SIRC will examine a vast array of possible areas of collaboration as they strive to create solutions and technology development in the waste management and recyclable sector.
“This partnership with SIRC is an example of the real impact KAUST is having on improving an essential infrastructure in Saudi Arabia. We look forward to seeing how KAUST startups will work with SIRC to advance waste management and develop the Kingdom’s circular economy,” said Kevin Cullen, vice president of KAUST Innovation.
The Saudi Investment Recycling Company was founded in 2017 to develop waste processing facilities and infrastructure across the kingdom, to enable the Vision 2030 objectives. They are committed to supporting KAUST’s startups and technology development projects.
Saudi Arabia’s Vision 2030 aims to target 100% of municipal solid waste and 85% of industrial waste to be diverted from landfills. KAUST stands as a partner to Saudi Arabia’s circular economy with the aim of repurposing recovered recyclables to further promote industry and advancement. As a world leader in sustainable technologies, KAUST remains focused on cutting edge solutions to diversify the economy in KSA while also contributing to a more sustainable future.