Naseba : the event we attended was called the Mena Private Equity and Venture Capital Summit we were invited to meet with sovereign wealth funds, traditional PE and VC firms, and more recently, regional conglomerates and family-owned businesses who form the bedrock of the Gulf economy, these included Mubadala, Saudi Aramco, Dabol, Muhamad Bin Rashad Innovation Fund, Emaar Industries, Aurum Capital etc.
This region is replete with suitable salt formations and as the region is now ramping up their renewable infrastructure the area represents an ideal location for grid scale CAES storage plants. We are currently investigating a pilot plant with King Abdullah university (for scientific and technological education and research) and hope to provide a further update in the coming months.