Aramco Ventures: ‘We build local teams where technology thrives"

Among the strategic priorities of Saudi Arabia's Aramco Ventures are emerging energy sectors, solar energy projects, and digital technologies, the CEO of the company, Mahdi Al-Adel, stated at the 1st Azerbaijan International Investment Forum in Baku, Report informs.

The CEO noted that Aramco maintains its leadership not only in the traditional energy sector but also in innovation and technology: "For over 13 years, the company has invested in startups and technologies worldwide, applying this experience across its operations."

Al-Adel emphasized that Aramco Ventures' strategy goes beyond investing in technology: "The company also integrates the technologies it invests in into its business operations, which brings both financial returns and technological transfer benefits. Thus, Aramco Ventures acts not only as an investor but also accelerates Aramco's growth in digital and energy domains by embedding innovations across its divisions."

He added that Aramco Ventures invests globally and builds local teams in regions where technology is advancing: "This approach not only provides access to technological innovation but also creates added value as investments mature and are applied to Aramco's business models."

The CEO also highlighted that Aramco Ventures contributes to increasing the company's financial returns and ensures internal rate of return upon exit from investments: "Moreover, this strategy strengthens Saudi Arabia's global competitiveness in technology and creates new job opportunities."