CarbonMeta Research – the subsidiary of CarbonMeta Technologies Inc. (OTC PINK: COWI), signed a Memorandum of Understanding (MoU) with Saudi Investment Recycling Company (SIRC) for a joint cooperation on the commercialization of demolition waste recycling into products that will mitigate climate change by capturing carbon dioxide (CO2).
The collaboration will aim to advance the production of up-cycled pavers and bricks. Construction sources would be converted to materials that would aim to contribute to the development of a circular, sustainable economy.
According to CarbonMeta Research, the partnership with SIRC will step up the company’s efforts to commercialize the production of these materials in Saudi Arabia.
CarbonMeta and Saudi Investment Recycling Company will be working together to prototype the development of manufacturing processes needed to convert construction waste into source materials, and scale up those manufacturing processes to meet the volume and quality production requirements of key construction contractors in Saudi Arabia.
SIRC is a wholly-owned subsidiary of the Public Investment Fund (PIF) of Saudi Arabia. The company aims to establish recycling capacities in the Kingdom and build a circular economy for a sustainable future. The company’s goal is also to achieve the ambitious target set by the Waste Management National Regulator Framework of 2035. One of the objectives is diverting 60% of construction and demolition waste from landfills.
CarbonMeta Research Ltd., on the other hand, is focused on the development of technologies and solutions for processing organic wastes and generating economically sustainable hydrogen and high-value carbon products such as carbon nanotubes.
The partnership between the two companies would facilitate both in achieving their goals and advance recycling processes and practices that are needed in the future for a sustainable economy.