Danish biotechnology firm Unibio has signed a memorandum of understanding (MoU) to build a facility in Saudi Arabia which will convert natural gas into high-protein aquatic feed, as well as feed for livestock, reports Construction Week Online.
Unibio agreed the SAR 750 million ($200m) MoU with the Saudi Arabian General Investment Authority (Sagia), and will produce its patented feed named Uniprotein.
Unibio uses methane found in natural gas to grow Methylococcus capsulatus, a protein-rich bacteria.
The MoU’s $200m value was reported by Saudi Arabia’s state news agency, SPA.
The MoU was signed during a ceremony in Riyadh attended by governor of Sagia, HE Ibrahim Al Omar. Commenting on the project, he said: “With a growing population, this project represents an important step towards achieving food security for the kingdom by providing a sustainable and economically viable source of animal feed products.”
“The importance of this project is that it uses a clean and abundant natural source in the kingdom, and produces high-quality protein supplements to feed fish, poultry, and livestock, in addition to the transfer of advanced technology to the kingdom.”
Unibio’s Busch-Larsen added: “Most people envision Saudi Arabia as a country of oil and gas with limited agricultural output, but what may still be fairly unknown to most people is the Vision 2030 of the country to transform the economy for the future.”
“We are very pleased to sign an MoU with an important governmental organization such as Sagia as well as partnering up with Edhafat and other local stakeholders in our effort to participate in the development on the Saudi Arabian economy, bringing investments, jobs, and a profitable business opportunity to the kingdom.”
The story of Unibio was detailed in an Undercurrent News report in 2017.