RDIA Approval in the Kingdom of Saudi Arabia
Active Energy Group plc has received formal approval from the Research, Development and Innovation Authority in Saudi Arabia, a significant step in its Middle East expansion strategy. This approval enables the company to establish a locally incorporated operating entity and deploy its AI and High-Performance Computing modular data centre platform, aligning with Saudi Arabia's Vision 2030 objectives for digital transformation and energy optimisation. The company will now progress with incorporating a Saudi Special Purpose Vehicle, applying for investment licensing, establishing a local office, and advancing site identification and partnership discussions.
Select text to share a quote on X · sign in to keep highlights & notes in your AEG notes
| Active Energy Group plc (AIM: AEG | OTCID: AEUSF), the renewable energy and digital infrastructure company, is pleased to announce that it has formally received approval from the Research, Development and Innovation Authority ("RDIA") in the Kingdom of Saudi Arabia ("KSA"). |
This approval represents a significant milestone in the Company's Middle East expansion strategy and enables AEG to progress to the next stage of establishing a locally incorporated operating entity within the Kingdom.
The RDIA approval supports AEG's intention to deploy its next-generation AI and High-Performance Computing ("HPC") modular data centre platform within Saudi Arabia. The Company intends to form a Saudi-incorporated subsidiary to develop and operate its energy-optimised digital infrastructure model in alignment with the Kingdom's Vision 2030 objectives.
Strategic Importance
Saudi Arabia is undertaking substantial investment in digital transformation, artificial intelligence, advanced infrastructure and energy optimisation as part of its Vision 2030 programme. The Board believes that AEG's modular, energy-efficient infrastructure model is well aligned with these national priorities.
The receipt of RDIA approval:
- Provides formal recognition of AEG's technology-led approach within the Kingdom;
- Enables progression towards incorporation of a Saudi-based operating vehicle;
- Facilitates engagement with government bodies, utilities, industrial partners and financial institutions within KSA; and
- Positions the Company to participate in national programmes supporting innovation, digital infrastructure and advanced technologies.
Next Steps
Following RDIA approval, AEG will:
- Progress incorporation of a Saudi Special Purpose Vehicle ("SPV");
- Apply for the necessary investment licensing through the Ministry of Investment of Saudi Arabia (MISA);
- Establish a local office and recruit key personnel within the Kingdom; and
- Advance site identification and partnership discussions to support deployment of its AI & HPC modular data centre platform.
The Saudi SPV will be supported by Active Energy Group plc as the London-listed parent company, providing governance oversight, technical expertise and capital markets access.
The Board views entry into Saudi Arabia as a strategically important step in building a regional digital infrastructure platform across the Gulf Cooperation Council ("GCC") region.
Commenting, Paul Elliott, CEO of AEG, said:
"Receiving RDIA approval is an important endorsement of AEG's technology platform and our strategic direction in the Kingdom of Saudi Arabia. Saudi Arabia is one of the most dynamic and forward-looking markets globally in AI, digital infrastructure and energy innovation.
This milestone allows us to move forward with establishing a local presence and aligning our modular, energy-optimised infrastructure model with the ambitions of Vision 2030. We look forward to building long-term partnerships within the Kingdom and contributing to its rapidly developing digital ecosystem."
The Company will provide further updates as additional milestones are achieved.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.