MOAJ Holding invests $30M in Joint Venture with MediSun Energy to Tackle Water Scarcity and Brine Challenges in Saudi Arabia
SINGAPORE, Sept. 30, 2024 /PRNewswire/ -- MediSun Energy and MOAJ Holding are pleased to announce the formation of MediSun Arabia, a joint venture designed to drive innovative energy solutions and tackle water scarcity in Saudi Arabia. As part of this strategic partnership, MOAJ Holding will invest USD 30 million to establish a cutting-edge manufacturing facility and co-develop a Saudi Brine Management Program with MediSun Energy.
The venture will include the construction of a manufacturing hub to produce MediSun's WEGen stacks, critical components supporting renewable energy projects across the region. This facility will boost local industrial capabilities and play a central role in Saudi Arabia's renewable energy transition, aligning with Saudi Vision 2030. Additionally, MOAJ Holding will be the exclusive distributor of MediSun Energy's technologies throughout the Gulf Cooperation Council (GCC), expanding MediSun's footprint in the Middle East.
Together, the partners will spearhead the Saudi Brine Management Program in collaboration with a leading academic institution renowned for its desalination research. This ambitious R&D initiative aims to address the environmental challenges of desalination brine by developing cutting-edge treatment technologies aligned with Saudi Arabia's sustainability goals.
Dusun Kim, CEO of MediSun Energy, commented, "This joint venture marks a significant milestone for MediSun Energy as we expand operations in Saudi Arabia. Our WEGen technology, which harnesses Reverse Electrodialysis (RED) to efficiently convert saltwater into electricity, will play a key role in advancing Saudi Arabia's sustainability targets by generating clean energy and reducing consumption. With MOAJ as our partner in the GCC, we look forward to a long-term partnership that drives meaningful impact."
HE Mohammed N. Al Jasser, Founder of MOAJ Holding, added, "We are excited to partner with MediSun Energy in this transformative joint venture. Our shared vision for advancing sustainable energy and water management in Saudi Arabia highlights the significance of this collaboration. MediSun's WEGen technology, which enhances energy efficiency while producing clean power, is aligned with the region's sustainability goals. Together, we are dedicated to delivering these innovative solutions to the broader Middle East market."
This joint venture positions both MOAJ and MediSun as key players in addressing the region's water and energy challenges, aligned with Saudi Arabia's Vision 2030 for a sustainable future.
About MediSun Energy
MediSun Energy is a technology-driven company focused on providing innovative, clean energy solutions. Its flagship WEGen technology leverages osmotic power to enhance energy efficiency in water desalination and renewable energy generation. Committed to a net-carbon neutral future, MediSun delivers sustainable, practical solutions that align with the global vision for a greener planet.
About MOAJ Holding
MOAJ Holding is a leading investment group with a focus on sustainable development across key sectors including energy, technology, and infrastructure. In line with Saudi Arabia's Vision 2030, MOAJ invests in transformative projects that promote economic diversification and environmental sustainability.
For more information, visit www.medisun.energy or write to [email protected]. You can also follow MediSun on LinkedIn.
SOURCE MediSun Energy
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