Ocean Polymers plans to develop land-based recycling solutions in Saudi-Arabia

Ocean Polymers has announced that the Company has entered into a Memorandum of Understanding (“MOU”) with an undisclosed Saudi Arabian conglomerate which is a leading corporation within the Kingdom of Saudi Arabia pursuant to which the Company intends to cooperate in the fields of new and renewable energy technologies such as, but not restricted to, waste-to-energy and efficient energy technologies.

This follows an earlier announcement released on 22 August 2018, in relation to Ocean Polymers signing a MOU with InEnTec Inc. to establish, develop and promote their existing Plasma Gasification, for both maritime and land-based applications.

“We are delighted to sign this MOU together with such a major Saudi Arabian entity and greatly appreciate the support offered by them not only in Saudi Arabia but across the Gulf Co-operation Countries. Ocean Polymers are continuing to build relationships with both investors, suppliers and end-users to accelerate the growth of our innovative solution globally,” said Mr Paul Rodger, Ocean Polymers’ Chief Executive Officer. “This is a testament to the confidence our stakeholders have in our technology partners and in us as a Company, our story and our vision. It is very exciting to see individuals and companies supporting our goal to be part of Saudi Arabia’s waste management future and that of the whole Middle East and North Africa region as a result.”

The Parties are committed to cooperate in the fields of new and renewable energy technologies such as, but not restricted to, waste-to-energy and efficient energy technologies within KSA and the Gulf Co-operation Council Countries (GCC) with the following (but not exclusive) goals;

  • Sharing experience in national recycling and renewable energy policies.
  • Identifying areas of mutual interest for cooperation for the development of new and renewable energy technologies, systems, sub-systems, devices, components, etc.
  • Facilitating the identification of joint projects or partnerships.
  • Facilitating the creation of joint commercial and non-commercial activities.
  • Promoting, monitoring and evaluating cooperation activities in these fields.
  • Work to cooperate in the waste to energy needs within the KSA

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