A memorandum of understanding (MoU) has been signed by carbon-negative concrete pioneer Partanna with Saudi-based developer Red Sea Global.
The MoU was signed at COP27 and, as part of the agreement, the parties are exploring an arrangement for Partanna to establish production facilities on Saudi Arabia’s Red Sea coast.
The MoU comes just days after Partanna announced a partnership with the Government of the Bahamas to build the world’s first carbon-negative housing development.
“It’s time for action. Whilst others use COP27 to talk and promote themselves, we’re here to do business with developers who share our vision of changing how the world builds. We’re moving quick because humanity can’t afford to wait. Red Sea Global share our vision and wanted to move quickly to make it a reality. We’re delighted to strike up an agreement with one of the world’s most ambitious and innovative developers and see this as the start of our work in the Middle East,” said Rick Fox, former Los Angeles Lakers and actor, Co-Founder of Partanna Global.
