Ma'aden and GlassPoint MoU

When complete, the 1,500 MW solar steam facility will help MA’ADEN achieve sustainability goals by reducing carbon emissions by over 600,000 tons annually. This represents more than 50% reduction of carbon footprint in MA’ADEN’s Alumina refinery and 4% of MA’ADEN’s overall carbon footprint.

The MOU was signed at MA’ADEN HQ in Riyadh, Saudi Arabia by Riyadh Al Nassar, senior vice president of MA’ADEN’s aluminium business and Rod MacGregor, CEO and founder of GlassPoint, witnessed by Robert Wilt, CEO of MA’ADEN and Jacob Drejer, CCO of GlassPoint.

Robert Wilt, stated: “As the third pillar of the Saudi economy, we aspire to be a role model in ESG in the Kingdom. This significant development will dramatically reduce our carbon footprint and bring us closer to our mandate of carbon neutrality by 2050. As the world moves towards green aluminium, MA’ADEN intends to help lead the way in this transition.”

Riyadh Al Nassar, SVP Aluminium SBU of MA’ADEN stated: “The proposed new facility, a solar thermal plant known as MA’ADEN Solar 1, will be located in Ras al Khair, Kingdom of Saudi Arabia, and will harness the power of the sun to produce steam. The steam will be used to refine bauxite ore into alumina. Alumina is a critical feedstock to Aluminium, which is one of the world’s most crucial metals for many global industries going into a future that is focused on environment and sustainability.”