SWCC signs two MoUs with South Korea's Taekyung Group and DL E&C
The Saline Water Conversion Corporation (SWCC) signed this Sunday two memorandums of understanding (MoUs) with South Korea’s DL E&C and Taekyung Group to enhance the prospects for strategic cooperation in the scientific, knowledge and consultancy fields, and to exchange expertise, studies and innovations and their applications, aiming to explore and develop opportunities for growth and prosperity and adoption of flexible options and solutions that help accelerate the pace of growth in renewable energy solutions, which will achieve mutual future goals and aspirations.
The MoUs were signed during the Saudi-Korean Investment Forum 2023, organized by the Ministry of Investment at the Fairmont Hotel in Riyadh, in presence of several international experts concerned with research and development of investment relations between the two countries. The Deputy Governor for Research and Execution of Innovative Projects, Eng. Tariq Alghaffari signed on behalf of SWCC, Chief Executive Officer Kim Hayron signed on behalf of the South Korea’s Taekyung Group and the Vice President of Strategy, Planning and Nuclear Energy Sanjun Rio signed on behalf of DL E&C.
Under the first MoU, SWCC and South Korea’s DL E&C will promote the utilization of solar energy solutions as a new source of zero-carbon energy and will conduct joint studies and research on the green hydrogen and ammonia production model and promoting a sustainable and eco-friendly hydrogen economy to utilize the renewable energy sources in generating additional value in the production systems. This will allow for the development of more sustainable and reliable desalination methods of better quality. It further enhances the pivotal role of hydrogen in helping the desalination industry and its sectors move towards low-carbon production and raise contribution to reducing the effects of climate change.
Cooperation between SWCC and Taekyung Group will focus on development of research on technologies for the use of seawater and saline water for the production and extraction of valuable materials and the use and storage of carbon, in addition to adopting strategies to accelerate and innovate solutions for precipitates of calcium carbonate and magnesium salts in their multiple forms. The partnership also includes a commitment to the commercialization of advanced technologies and the exchange of intellectual property. This exchange is expected to enhance the capabilities of the two parties to innovate and accelerate the development of advanced solutions to address the urgent global challenges associated with the future of the desalination industry.