The new MoU will create investment opportunities by converging automation and connectivity technologies, driving value creation in the Kingdom of Saudi Arabia
LUXEMBOURG/PRNewswire/ -- OQ Technology is delighted to announce the signing of a new MoU with Aramco, further strengthening their existing collaboration and concentrating on automation and Satellite IoT connectivity for Aramco's remote site infrastructures.
Intelligent Integrated Node (IIN) technology is an innovative automation infrastructure technology invented by Aramco and developed by MOXA Inc. It combines instrumentation control, monitoring, and edge computing capabilities into a single fault-tolerant device. The technology unifies various devices from multiple vendors and has received numerous awards, including the 2018 Custodian of the Two Holy Mosques Prize for Inventors and the 2020 International Society of Automation (ISA) Excellence-In-Innovation Award.
The significance of this collaboration lies in the synergy between Aramco's automation edge technology and OQ's Low Earth Orbit (LEO) 5G NB-IoT infrastructure, offering significant potential. It will accelerate the development of IoT applications, personal products, safety, security & surveillance, fire protection, automotive, healthcare, intelligent defense, and other industries in Saudi Arabia and globally.
The parties intend to work together to create an integrated package that includes the Aramco automation edge technology being developed by MOXA with OQ Technology infrastructure, and to promote the solution opportunities in the network manufacturing value chain that are related to the oil and gas industry.
Omar Qaise, Founder and Chief Executive Officer at OQ, said, "Integrating 5G IoT and IIN technologies will increase operational efficiencies downstream, reduce raw material consumption, and minimize personnel travel to remote sites, contributing to a more efficient green economy– a key component of Saudi Arabia's 2030 vision. The MoU further advances the technological cooperation between Aramco and OQ."
While the current focus of IIN technology is to deliver value to operating energy companies, there are ample opportunities to incorporate this groundbreaking technology into other sectors, such as smart cities, power and utilities, agriculture, and transportation. Consequently, this will pave the way for lucrative business and investment opportunities in the automation and connectivity network value chain.
About OQ Technology: www.oqtec.com
OQ Technology is the world's first satellite 5G IoT operator that provides global cellular Internet-of-Things and Machine-to-Machine communication solutions through satellites. The company has successfully implemented and demonstrated Narrowband IoT connectivity over Low Earth Orbit satellites and is deploying a global constellation to provide 5G IoT telecommunication services for mobile operators and customers in industries such as energy, mining, logistics, maritime, agriculture, and defense. The company's patented technology that can be easily embedded in existing 5G chips allows billions of users around the world to have ubiquitous IoT connectivity anywhere and using both terrestrial and satellite networks.
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SOURCE OQ Technology
Aramco and OQ Technology strengthen ties with new technology connectivity MoU
OQ Technology to expand Satellite IoT services and solutions for connecting Aramco's Intelligent Integrated Node (IIN) technology
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