DUBAI: A Dubai-based company is using solar energy to produce water out of air.
Source Global, which was established in Dubai in 2017, recently introduced sun-powered hydro-panels to make clean drinking water.
It is aiming to get 75 percent of its energy use from clean sources by 2050, CNN reported.
“These hydro panels are effectively producing high quality drinking water day in, day out without requiring any infrastructure, any power or any type of grid,” the company’s Vice President Vahid Fotuhi told CNN in an interview.
The new technology uses solar energy to power a fan that draws in air, which then goes through a sponge-like material where water molecules are absorbed.
Source Global, which operates in 48 countries, chose Dubai to develop its biggest water farm because of the emirate’s keenness to invest in innovation, Fotuhi said.
“First of all, the fact that it is a hub for the Middle East Africa region, it also is a center for new innovations for key sectors, such as agriculture and water,” he explained.
Technologies that turn air into water are not new, but Fotuhi said they want to make it more sustainable by adopting a clean energy strategy.
Experts said the challenge with these technologies is distribution, but Source Global thinks getting people on board harder.
People here are accustomed to a staple solution for water generation and what we’re proposing is kind of diversified menu effectively,” he said. “As with most disruptive technologies, initially people are hesitant to change.”
Dubai firm uses solar power to make water out of air
https://arab.news/86akq
Dubai firm uses solar power to make water out of air
Closing Bell: Saudi main index extends gains as market opens wider to foreign investment
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Monday, gaining 153.61 points, or 1.38 percent, to close at 11,321.09.
The total trading turnover of the benchmark index was SR5.85 billion ($1.56 billion), as 207 of the listed stocks advanced, while 55 retreated.
The MSCI Tadawul Index increased, up 21.20 points or 1.41 percent, to close at 1,524.18.
The Kingdom’s parallel market Nomu gained 278.13 points, or 1.17 percent, to close at 24,013.03. This comes as 43 of the listed stocks advanced, while 29 retreated.
The best-performing stock was Saudi Pharmaceutical Industries and Medical Appliances Corp., with its share price surging by 7.26 percent to SR28.94.
Other top performers included Rasan Information Technology Co., which saw its share price rise by 6.51 percent to SR144, and Knowledge Economic City, which saw a 6.25 percent increase to SR13.09.
On the downside, the worst performer of the day was Najran Cement Co., whose share price fell by 2.11 percent to SR6.49.
Almasane Alkobra Mining Co. and Saudi Cable Co. also saw declines, with their shares dropping by 2 percent and 1.88 percent to SR103.10 and SR166.80, respectively.
On the announcement front, Riyad Bank has announced its annual financial results for 2025, with the total income from special commission of financing reaching SR24.1 billion, while net income from special commission of financing amounted to SR12 billion.
In a statement on Tadawul, the bank said: “Net income increased by 11.7 percent mainly due to an increase in total operating income and a decrease in total operating expenses.”
The bank further noted that the rise in total operating income was primarily driven by increased revenue from fees and commissions, trading activities, special commissions, gains on non-trading investments, and other operating sources. This growth was partially tempered by declines in exchange and dividend income.
“Net provision of expected credit losses and other losses decreased by 15.8 percent due to a decrease in impairment charge of credit losses and impairment charge for other financial assets, partially offset by an increase in impairment charge for investments,” it added.
RIBL’s share price closed at SR18.18 on the main market, marking a 1.43 percent increase.
