Saudi Basic : Riyadh Governor Patronizes Inauguration of HOME OF INNOVATION™ Facility to Foster Collaboration and Local Downstream Development

25 May 2016

HRH Riyadh Governor Prince Faisal bin Bandar bin Abdulaziz Al-Saud patronized the inauguration ceremony of SABIC's Home of Innovation™ facility in Riyadh on May 25, in the presence of Prince Saud bin Abdullah bin Thenayan Al-Saud, Chairman of SABIC and of the Royal Commission for Jubail and Yanbu, Yousef Al-Benyan, SABIC Vice Chairman and CEO, in addition to a large gathering of government officials, business leaders, company executives, and media representatives.

In his speech during the inauguration ceremony, Prince Saud extended thanks to Riyadh Governor for the support he gives to SABIC, and for patronizing the ceremony, which witnessed the launch of one of SABIC's most important initiatives, the Home of Innovation™.

The Chairman of SABIC said, 'With the help of Allah, the kingdom is moving ahead with its development journey, aiming to diversify its resources, and leverage its capabilities. SABIC will move at a steady pace towards achieving its 2025 strategy.'

Speaking about the development of human resources, Prince Saud said, 'SABIC continues to build talents that are capable of dealing with all business challenges, through furthering the role of SABIC Academy. We believe the creativity, flexibility, and talents of our human resources will allow us -God willing- to continue discovering new opportunities.'

Addressing HRH Riyadh Governor, Prince Saud said, 'Today, Your Highness inaugurates the Home of Innovation, to join the SABIC technology and innovation network in the Kingdom. It will help bring the Kingdom to a leading technological position in the petrochemical industry, in a competitive and sustainable manner. The Home of Innovation will be a regional hub for developing and showcasing innovative and economic solutions.'

HH concluded by recognizing the role of King Saud University in achieving these milestones, addressing thanks to the King Saud University staff, especially Dr. Badran Al-Omar, Rector of the University, for their partnership, engagement, and collaboration.

The SABIC Home of Innovation is an initiative to promote economic growth and technical innovation in Saudi Arabia. It is designed to foster collaboration with other leading companies and target opportunities that address regional and local challenges. The initiative supports both SABIC's 2025 strategy and Saudi Arabia's 2030 Vision by generating business to promote local downstream industry growth toward a diverse and sustainable economy.

Outlining the unique features of the Demonstration House found within the Home of Innovation™, Yousef A. Al-Benyan said, 'Imagine a house in the desert, that makes its own electricity. A house that recycles its own water. It already exists. It is our Demonstration House - a fully furnished residence for modern, comfortable and sustainable living.'

Al-Benyan was hopeful that the construction industry will adopt the high-performance principles and practices from the Demonstration House to develop more sustainable home building in Saudi Arabia. 'It is our hope that it will inspire and lead the construction industry to incorporate its innovative yet proven technologies, materials, products and systems toward improving building performance.'

Speaking of the entire Home of Innovation™ program, Al-Benyan said, 'It is a place where partners, thought leaders, end-users, specifiers, converters, investors and government officials can come together to experience the high-performance Demonstration Home and do business.'

In a press conference before the inaugural ceremony, Awadh Al-Maker, SABIC Executive Vice President, Technology and Innovation, said, 'The Home of Innovation™ will foster collaboration among industry-leading companies, the government agencies in the Kingdom, academia, investors, and others interested in the sustainable economic future of the Kingdom and Middle East region. It will facilitate knowledge and technology transfer, generate ideas for local industrial growth, and help solidify Saudi Arabia as global leaders in innovation. At SABIC we see it as tangible proof of 'Chemistry that Matters'™.'

Dr. Abdullah Al-Refaie, The Home of Innovation™ Program Director , explained that the facility is open to visitors by invitation only, because it's a center for doing business, adding that, 'We welcome anyone interested in doing business with SABIC, our industry-leading participants, and others dedicated to addressing the critical challenges and opportunities facing the Kingdom and region.'

The Home of Innovation™ facility is built on an area of 3,400 square meters in Riyadh's Techno Valley. It comprises three buildings designed to support the initiative's goals, including the Collaboration Center, the Technology Showcase, and the Demonstration House, in addition to meeting halls and administration offices.

The high-performance Demonstration House is the first single-family home in the Middle East region to earn Platinum certification from the US Green Building Council's Leadership in Energy & Environmental Design (LEED) rating system, an award received only by the world's most resource-efficient buildings. The two-building Collaboration Center earned LEED-Gold certification. Seven of SABIC's facilities have achieved LEED certification since 2012.

Through its Home of Innovation™ initiative, SABIC succeeded in establishing strategic marketing relationships with 45 global, regional and local manufacturing companies to promote industry-leading technology to address opportunities in Saudi Arabia and the Middle East region, such as building performance, efficient energy and water use, and materials solutions.

Yaarob Al-Thenayan
Acting Director, Global Media

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