Riyadh - Sharikat Mubasher: Alat, an innovative manufacturing company launched by the Public Investment Fund (PIF), entered into partnerships with four leading technology companies: Softbank Group, Carrier Corporation, Dahua Technology, and Tahakom.

In a statement, Alat said that it will deliver sustainable manufacturing to help these global companies reduce their emissions and move towards carbon-zero manufacturing.

The newly established company targets investing $100 billion by 2030 to upgrade the capabilities of the technological sector, benefiting from the rapid development of this sector in the Kingdom.

It also aims to empower the private sector and enhance the commercial environment through its business systems and partnerships with leading international technology manufacturers.

Global CEO of Alat Amit Midha stated that the four partnerships will enable the company to redefine sustainable manufacturing, in collaboration with international and regional partners.

“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,” Midha added.

Alat’s partnership with Softbank Group aims to establish a next-generation industrial automation business in the Kingdom that will manufacture groundbreaking industrial robots. Both parties will invest up to $150 million to build a fully automated manufacturing and engineering hub that will serve local and global demand.

Additionally, Alat and Carrier Corporation will join efforts to develop a cutting-edge manufacturing and R&D facility in the Kingdom aimed at decarbonizing emissions in buildings, and dramatically increasing their energy efficiency.

Dahua Technology and Alat will form a new joint venture to produce and market solutions for safety and surveillance use that are applicable in Intelligent Cities, as well as Intelligent Buildings and Enterprise Applications.

Moreover, Alat’s partnership with Tahakom aims to develop smart mobility and intelligent cities solutions, in alignment with Vision 2030.