The Dow Chemical Company, a world leader in science and technology, today announced the Company’s intent to enter into a strategic relationship with King Abdullah University of Science and Technology (KAUST) in the Kingdom of Saudi Arabia (KSA).
During a site tour of KAUST’s facilities, Dow announced its intentions to establish a multi-year, multi-million dollar joint research framework with KAUST. The framework will initially aim at using catalysis as a means to develop new routes for producing chemical derivatives. Dow also affirmed its commitment to becoming a founding member of KAUST’s Industrial Collaboration Program (KICP), which aims to enrich the local research experience while promoting economic development in the Kingdom of Saudi Arabia. Dow also announced its intention to explore developmental efforts at the KAUST Research Park and Innovations Cluster. Areas being considered for the park include CO2 capture, enhanced oil recovery, water desalination, solar energy, and wind energy. Ernesto Occhiello, Research & Development Director for Dow in Europe, Middle East and Africa has been named as the liaison with KAUST and will be a single point of contact between Dow and KAUST. The parties agreed to work towards defining project milestones by KAUST’s scheduled opening.
Scheduled to open in September 2009, KAUST is a graduate-level research university and the realization of the vision of King Abdullah bin Abdulaziz Al Saud, Custodian of the Two Holy Mosques, to promote the advancement of science and technology in Saudi Arabia. KICP enriches the research experience while promoting economic development in Saudi Arabia. Designed to maximize the effectiveness of industrial collaboration within the Kingdom and internationally by engaging key partners, KICP’s goal is to translate knowledge into economic growth and job creation.
Andrew Liveris, chairman and chief executive officer, The Dow Chemical Company, said: “Dow is excited about the potential of expanding its R&D presence in the Middle East through this exciting new partnership with KAUST. The University’s goal of fostering economic development through the advancement of technology is completely aligned with Dow’s focus on delivering science-based solutions for everyday needs. While this is just the beginning our relationship, we are very excited to be a strategic partner as KAUST looks to become a world class educational institution determined to make a significant impact in the economic development of the Kingdom of Saudi Arabia.”
Professor Chong Fong Shih, KAUST President said: “It is the vision of King Abdullah to have KAUST act as a driver in transforming Saudi Arabia into a knowledge economy by directly integrating research produced at the University into our economy. We are pleased to have Dow, a 112-year old world leader in the field of science and technology, as a partner in realizing this great vision. While innovation occurs throughout the Dow organization, at its root is scientific research leading to new products and solutions, from which this initiative will derive much success.”