Saudi PIF company to set up R&D unit with Carrier Corp

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Alat, an innovative company powered by Saudi wealth fund PIF, has announced a major collaboration with US-based Carrier, a global leader in intelligent climate and energy solutions, to develop a cutting-edge manufacturing and research and development (R&D) facility in the kingdom aimed at decarbonising emissions in buildings, and dramatically increasing their energy efficiency.

As per the deal, the duo will deliver advanced heating, ventilation and air conditioning (HVAC) solutions which includes high-tech Heating Ventilation Air Conditioning Systems (HVAC) and products like VRF (Variable Refrigerant Flow), chillers, and Air Handling Units (AHUs).

The agreement includes development of a cutting-edge manufacturing and R&D center expected to create more than 5,000 local jobs, it stated.

A major Saudi entity, Alat is focused on transforming global industries (electronics and industrials) and creating a world-class manufacturing hub in the Kingdom of Saudi Arabia.

This Carrier deal comes as part of Alat's massive plan for the kingdom under which it will be investing $100 billion to boost the country's technology capabilities by 2030, benefiting from the rapid development of this sector in Saudi Arabia.

In addition to the US group, Alat has sealed global partnerships with leading technology companies including Softbank Group, Dahua Technology, a professional manufacturer in the security and safety field and Saudi Technology and Security Comprehensive Control Company (Tahakom).

Through these tieups, Alat aims to deliver sustainable manufacturing to help these global companies reduce their emissions and move towards carbon zero manufacturing.

Amit Midha, Global CEO of Alat, said: "In conjunction with our international and regional partners, the first four of which we proudly announce today, we will redefine sustainable manufacturing. Alat´s mandate is focused on harnessing the Kingdom´s solar, wind and green hydrogen clean energy."

"We are passionately using technology to transform businesses, leveraging cutting-edge AI technology and fourth industrial revolution technologies for manufacturing," stated Midha.

"This is not only using clean energy, but applying sustainability measures to all our operations, buildings, logistics and supply chain, with sustainability at the core of everything we do," he added.