Pacific Green Technologies, Inc. is pleased to announce that it has signed a Joint-Venture Agreement (“JV”) with Amr Khashoggi Trading Company Limited (“Amkest Group”) to incorporate a company in the Kingdom of Saudi Arabia for the sale of Pacific Green’s environmental technologies within the region.
Amkest Group, which was founded in 1983, has a 37-year history of success in Saudi Arabia developing a diverse business group, with a portfolio that includes construction material production and supply, property investment and development, and consulting and advisory services.
Scott Poulter, PGTK's Chief Executive commented: "The Kingdom of Saudi Arabia, under its ‘Vision 2030’ strategic framework, which calls for 9.5 GW of the Kingdom’s energy to be supplied through renewables by 2030, is set to undergo rapid growth, and we are very proud to partner with Amkest Group to ensure we position Pacific Green as a leader. In Amkest Group, we have aligned with an organization that brings decades of first-hand, market-specific experience and an incredible track-record of delivering industry-leading solutions across the region.”
Amr Khashoggi, Chairman of Amkest Group, commented: “We believe the combination of our experience and knowledge of the Saudi market, coupled with Pacific Green’s portfolio of technologies and relationship with PowerChina, provides the foundation for an incredible partnership and the opportunity to offer multiple complementary technologies in this market.”
Scott added: “Pacific Green’s technologies, particularly in the solar power, desalination and battery energy storage system (BESS) sectors, provide the perfect solution to the Kingdom’s growing demand, and we are excited to leverage Amkest Group’s hard-earned relationships to contribute towards the goals of Vision 2030. With the JV led by Chairman, Salman Alireza, and Managing Director, Bear Maclean, we are confident of delivering rapid growth in the whole region.”
Amkest Group is overseen by founder, Amr Khashoggi, who holds board positions in numerous influential companies and government bodies across the Kingdom and is currently serving as Strategic Advisor to the Kingdom’s prominent new development city, King Abdullah Economic City (KAEC). Amkest Group’s leadership team is led by Chief Executive Officer, Salman Alireza, whose background includes various founding, executive and director-level positions in the business development sector within the Kingdom of Saudi Arabia, in addition to an MBA from London Business School.