Saudi Aramco has announced the launch of its new wholly-owned corporate venturing subsidiary Saudi Aramco Energy Ventures (SAEV). Headquartered in Dhahran, SAEV will invest in technologies of strategic importance to Saudi Aramco that will enhance its position as a technology leader in the global energy industry, and support its broader Kingdom-wide initiatives in advancing sustainable domestic energy and water consumption. SAEV's global investments will target start-up and high growth companies, which can generate greater value through innovative upstream and downstream technologies as well as from renewable energy, water and energy efficiency technologies. SAEV's investments will accelerate the development of new technologies and ultimately contribute to in-Kingdom economic development as innovations are applied to new commercial opportunities, cost reduction and performance improvement, according to a latest press release of Saudi Aramco. --MORE
