Abdulaziz Alghamdi, General Manager, Alupco; Steven Fox, Senior Director, Business Development, ARRAY; Miguel Alonso, Operations; Director and VP Sales of North America, Alupco; Khaled Abdel-Moneim, Chief Executive Officer, Alupco; Aaron Gabelnick, Chief Technical Officer, ARRAY; Ahmad Adel Yousef, Business Development Manager, Alupco; Abdulmohsen Alfozan, Business Development Manager, Alupco
ARRAY Technologies and Aluminum Products Company (ALUPCO®) are pleased to announce they have entered into a strategic partnership, combining ARRAY’s industry-leading products with ALUPCO®’s leading production capabilities to support local manufacturing in the Kingdom of Saudi Arabia and the significant growth of renewable energy projects in the Middle East.
Riyadh, 7 of February 2024 – ARRAY Technologies (NASDAQ: ARRY) (“Array” or “the Company”), a global leader in utility-scale solar tracking solutions has signed its intent for a strategic partnership with Aluminum Products Company (ALUPCO®), a leading aluminum extrusion company in the Middle East and North African region (MENA). This partnership brings together expertise, reliability, innovation, and a local prominence, well-situated to help advance the future of clean energy in Saudi Arabia and the Middle East.
“Our alliance with ALUPCO® and expansion into the Middle East underscores our dedication to the global clean energy market. Our partners around the world share our commitment, and consistently rely on us for our differentiators – engineered simplicity, relentless reliability and a track record built on decades of experience, performance and trust. We’re eager to bring this partnership to life with ALUPCO® and leverage the strengths and dedication of both organizations to transform the energy landscape,” states ARRAY CEO, Kevin G. Hostetler.
Aluminum Products Company (ALUPCO®) CEO, Khaled Abdel-Moneim adds, “As the leading aluminum solutions provider in the Middle East and North African region, we are thrilled to partner with ARRAY as a pioneer and innovator, uniquely positioned to pave the way in the renewables industry. With our shared commitment to excellence focusing on performance and sustainability, we’re eager to unlock new opportunities, continue driving innovation and contribute to the Saudi and global economic landscape.”
To signify this relationship, both organizations participated in the second Private Sector Forum on Feb. 6 and 7, hosted in Riyadh – the capital of the largest economy in the Middle East – by Saudi Arabia’s Public Investment Fund. The forum featured discussions between top business leaders and policymakers on the private sector’s importance in the Kingdom’s development and opportunities in emerging regions.
Under its Vision 2030 blueprint, the Private Sector Forum is a strategic step in Saudi Arabia’s economic diversification, centered around innovation, technology and sustainable solutions. Saudi Arabia has one of the highest solar irradiations in the world, estimated at approximately 2,200 thermal kWh of solar radiation per square meter. As of 2023, the country has 13 renewable energy projects under development with a collective capacity of over 11 GW. Its solar PV installations are expected to boom from 2023 onward, reaching a peak in 2028 with more than 4 GW of annual installs while the Middle East is poised to add nearly 70 GW of PV capacity through 2030. According to Minister of Energy Prince Abdulaziz bin Salman, Saudi Arabia aims to add 20 gigawatts of renewable energy annually to reach 130 gigawatts of renewable energy before 2030.
The Private Sector Forum provides a favorable environment for ARRAY to expand its global footprint and establish strategic partnerships, solidifying its position as a driving force in the transition to a cleaner energy matrix. It serves as a catalyst for collaboration and awareness, playing a crucial role in helping promote a more sustainable and renewable future in the Middle East.
About ARRAY Technologies
ARRAY Technologies (NASDAQ: ARRY) is a leading global renewable energy company and provider of utility-scale solar tracking technology. Engineered to withstand the harshest conditions on the planet, ARRAY’s high-quality solar trackers and sophisticated software maximize energy production, accelerating the adoption of cost-effective and sustainable energy. Founded and headquartered in the United States, ARRAY relies on its diversified global supply chain and customer-centric approach to deliver, commission and support solar energy developments around the world, lighting the way to a brighter, smarter future for clean energy. For more news and information on ARRAY, please visit arraytechinc.com.
About Aluminum Products Company (ALUPCO®)
Founded in 1975, Aluminum Products Company (ALUPCO®) stands as the leading aluminum extrusion company in the Middle East and North African region (MENA). Our headquarters is located in Dammam, with an additional plant in Jeddah, ensuring our unrivaled presence across MENA. With a total capacity exceeding 85,000 MT per year, ALUPCO consistently enhances efficiency by offering a comprehensive range of cutting-edge aluminum products and innovative building solutions to our customers worldwide. Our commitment to excellence is underscored by a focus on performance and sustainability, ensuring that our offerings surpass industry standards.
Forward Looking Statements
This press release contains forward-looking statements, and these statements are not historical facts but rather are based on the Company’s current expectations and projections regarding its business, operations, and other factors relating there to. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors.
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Media Contact:
Karen Rand (Americas)
505-314-6901
krand@arraytechinc.com
Rana Abdelmoneim (Middle East)
+973-3903-3394
rana.abdelmoneim@alupco.com
Investor Relations Contact:
ARRAY Technologies, Inc.
Investor Relations
505-437-0010
investors@arraytechinc.com
