Saudi Investment Recycling Company and CarbonMeta Research Sign MoU To Commercialize Construction and Demolition Waste Recycling

Rhea-AI Summary

CarbonMeta Technologies (COWI) and Saudi Investment Recycling Company (SIRC) signed a Memorandum of Understanding to collaborate on recycling construction and demolition waste into sustainable products. This partnership aims to develop up-cycled pavers and bricks that capture carbon dioxide, contributing to climate change mitigation. The companies plan to prototype manufacturing processes to meet the demands of construction contractors in Saudi Arabia. This initiative aligns with Saudi Vision 2030, fostering a circular economy in the region.

Positive

• Joint cooperation on recycling construction and demolition waste expected to yield sustainable products.
• Focus on capturing CO2 during the manufacturing process aligns with environmental goals.
• Supports the development of construction waste management technologies.

Negative

• None.

SIRC and CarbonMeta Technologies (COWI) subsidiary to focus on up-cycled pavers and bricks that capture CO2 during manufacturing process

RIYADH, SAUDI ARABIA and OXFORD, UK / ACCESSWIRE / February 2, 2022 / Saudi Investment Recycling Company (SIRC) and CarbonMeta Research Ltd, a wholly owned subsidiary of CarbonMeta Technologies Inc. (OTC PINK:COWI), ("CarbonMeta") have announced today the signing of Memorandum of Understanding (MoU) for a joint cooperation on the commercialization of recycling construction and demolition waste

"This collaboration will help advance a solution recycling construction and demolition waste recycling into products that will also mitigate climate change by capturing carbon dioxide (CO2)," said Ziyad Al-Shiha, CEO of Saudi Investment Recycling Company (SIRC). "Through this cooperation, SIRC and ‎ CarbonMeta Technologies can help advance construction waste management technologies and contribute to the development of a circular, sustainable economy."

SIRC and CarbonMeta 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.

"Collaborating with SIRC will step up our efforts to commercialize the production of up-cycled pavers and bricks in Saudi Arabia." said Mohammed Khalil, Managing Director of CarbonMeta Research. "We look forward to working closely with SIRC toward the development of a circular, sustainable economy in line with Saudi Vision 2030."

About Saudi Investment Recycling Company (SIRC)

The Saudi Investment Recycling Company (SIRC) is a wholly owned subsidiary of the Public Investment Fund (PIF) of Saudi Arabia. Headquartered in Riyadh, the company was founded in 2017 to develop, own, operate, and finance various activities across all waste types to establish recycling capacities in the Kingdom and build a circular economy for a sustainable future. Through its achievements, SIRC will help meet and exceed the objectives of the Vision 2030 and support the success of various initiatives identified by the revised Waste Management National Regulatory Framework..

For more information about SIRC, please visit https://sirc.sa

About CarbonMeta Technologies Inc.

CarbonMeta Technologies (OTC PINK:COWI), headquartered in Woodinville, Wash., is a resource reclamation company that will process organic and construction wastes and generate economically sustainable construction, hydrogen, and high-value carbon products.

For more information about CarbonMeta Technologies, please visit www.CarbonMetaTech.com.

About CarbonMeta Research Ltd.

CarbonMeta Research Ltd. is a wholly owned subsidiary of CarbonMeta Technologies that is based in the United Kingdom, and whose focus is 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.

For more information about CarbonMeta Research, please visit www.CarbonMetaResearch.co.uk.

Forward-Looking Statement

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The ability of the Company to complete and file its Fiscal Year 2016 annual report on Form 10K relies on third parties to complete their activities. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include among others, the inherent uncertainties associated with smaller reporting companies, including without limitation, other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

CONTACT INFORMATION

Mark Duiker
CarbonMeta Technologies Investor Relations
(844) 698-3777, option 3
Investor@CarbonMetaTech.com

SOURCE: CarbonMeta Research Ltd.

View source version on accesswire.com:
https://www.accesswire.com/686904/Saudi-Investment-Recycling-Company-and-CarbonMeta-Research-Sign-MoU-To-Commercialize-Construction-and-Demolition-Waste-Recycling

FAQ

What is the partnership between COWI and SIRC about?

COWI and SIRC are collaborating to recycle construction and demolition waste into sustainable products that capture CO2.

What products will COWI and SIRC develop together?

They will develop up-cycled pavers and bricks as part of their recycling initiatives.

How does the collaboration align with Saudi Vision 2030?

The partnership aims to foster a circular economy in Saudi Arabia, supporting the goals of Saudi Vision 2030.

What environmental benefits are expected from the COWI and SIRC partnership?

The initiative is expected to mitigate climate change by capturing carbon dioxide during the manufacturing process.

When was the Memorandum of Understanding signed between COWI and SIRC?

The MoU was signed on February 2, 2022.