Saudi Arabia’s sustainable AgTech RedSea has signed a memorandum of understanding with Saudi Downtown Company (SDC), a fully-owned Public Investment Fund (PIF) subsidiary.
The new partnership allows the two parties to discuss designing, building and operation of RedSea greenhouses at SDC locations across the Kingdom, enabling the deployment of sustainable agriculture in modern city landscapes, RedSea said in a statement.
SDC was launched in October 2022 to build and develop downtown areas and mixed-use destinations in 12 cities throughout the Kingdom, namely Al-Madinah Al-Munawarah, Al-Ahsa, Al-Khobar, Buraydah, Al-Taif, Arar, Hail, Tabuk, Dumat Al-Jandal, Jizan, Najran and Al-Baha.
RedSea’s technologies span from the roots of fruits and vegetables to the roof of the greenhouse, deployed and proven in its six-hectare facility near Riyadh and its research and development facility in KAUST.
The company has its technology deployed in seven countries and delivers produce to over 100 retail locations across Saudi Arabia under the Red Sea Farms produce brand.
(Writing by D Madhura; Editing by Anoop Menon)