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FINANCIAL NEWS
Saudi’s KAUST, University of Toronto ink deal
06 Oct 2011
(MENAFN) Saudi Arabia’s King Abdullah University of Science and Technology (KAUST) director of technology transfer & innovation, Terence McElwee, announced the signing of a license agreement with the University of Toronto, under which the latter grants KAUST rights to a new solar power technology.
The license agreement aims at converting solar power into electrical energy utilizing quantum dots.
KAUST said that even though the technology still needs further research and consequent amendments, the university highly believes in its efficiency and potential.
It is worth noting that KAUST adopted the vision of becoming the leading model of technology based development in Saudi Arabia and to catalyze transformation of the kingdom’s economy.
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