Saudi Aramco launches sustainability fund
The more than $1 billion new Saudi fund will invest in hydrogen, ammonia and other alternative fuels to oil.
Saudi’s state-owned oil company Aramco announced yesterday the launch of a venture capital fund that will focus on sustainability-related projects.
What it means: The $1.5 billion fund will "invest in technology that can support a stable and inclusive energy transition.” It will be managed by Aramco’s venture capital arm. The fund will invest in the following, Aramco said in a press release:
