PIF's Alat enters into 4 global partnerships with leading tech firms

Logo of Alat Co.

Saudi Arabian tech company Alat, owned by the Public Investment Fund (PIF), entered today, Feb. 20, into four global partnerships with leading technology companies: Softbank Group, Carrier Corporation, Dahua Technology Ltd., and the Saudi Technology and Security Comprehensive Control Company (Tahakom).

Under these agreements, Alat will deliver sustainable manufacturing to help these global companies reduce their emissions and move towards carbon-free manufacturing, according to a statement obtained by Argaam.

Alat said that it is quickly delivering its mandate by cooperating with the world’s leading to enhance innovation and transform the course of various sectors, with a commitment and focus on the use of clean energy.

Alat will cooperate with SoftBank Group, one of the world’s largest technology investment groups, to establish a next-generation industrial automation company in the Kingdom that will manufacture groundbreaking industrial robots.

Alat and SoftBank have agreed to invest up to $150 million in establishing a fully automated manufacturing and engineering hub to serve both local and worldwide demand. This manufacturing plant is planned to be operational by December 2024.

Furthermore, Alat will work with Carrier Cooperation, a global leader in smart climate and energy solutions, to establish an advanced manufacturing, research, and development facility in the Kingdom, with the goal of reducing carbon emissions in buildings and significantly increasing energy efficiency.

This partnership will deliver advanced heating, ventilation, and air conditioning (HVAC) solutions, including high-tech heating, ventilation, and air conditioning (HVAC) systems and products like variable refrigerant flow (VRF), chillers, and air handling units (AHUs).

The agreement also includes the development of a cutting-edge research and development center expected to create more than 5,000 local jobs, according to the statement.

Dahua Technology Ltd., a professional manufacturer in the security and safety fields, will begin manufacturing technology products in the region through a new joint venture to produce and market safety and surveillance solutions for use in intelligent cities, intelligent buildings, and enterprise applications.

Alat and Dahua Technology will invest $200 million to establish Alat AIVisio Technology Co. Ltd., a secure and compliant global company for vision-centric products, in addition to a cutting-edge manufacturing facility in Saudi Arabia. The two companies will cooperate and provide support for technology enablement, testing labs, and demo centers, the statement added.

Alat will cooperate with Tahakom, which is already working on developing intelligent transportation systems, AI-supported technologies, and advanced safety solutions, to bring their resources and capabilities together to enhance innovation in smart transportation solutions and smart cities, in line with the Saudi Vision 2030.

This partnership will include cooperation in designing solutions and product specifications, benefiting from research, development, and innovation capabilities. Moreover, it aims to create technical models and plans and develop relationships with customers and vendors.

Alat will invest SAR 375 billion by 2030 to enhance the capabilities of the technological sector, benefiting from the rapid development of this sector in Saudi Arabia.

The PIF’s subsidiary will also work to empower the private sector and enhance the activity of the commercial environment through its business systems and cooperation with leading international companies in the manufacture of advanced technologies.

Amit Midha, Global CEO of Alat, said: “In conjunction with our international and regional partners, the first four of which we proudly announce today, we will redefine sustainable manufacturing. Alat´s mandate is focused on harnessing the Kingdom´s solar, wind and green hydrogen clean energy.”

“We are passionately using technology to transform businesses, leveraging cutting-edge AI technology and fourth industrial revolution technologies for manufacturing. This is not only using clean energy, but applying sustainability measures to all our operations, buildings, logistics and supply chain, with sustainability at the core of everything we do,” Midha added.