Logistics agency Newlab inks deal to set up regional HQ in Saudi Arabia

RIYADH: Energy logistics firm Newlab will establish a regional headquarters in Saudi Arabia after signing a deal with the Kingdom’s National Industrial Development and Logistics Program.
The deal, inked at the Future Minerals Forum 2024 in Riyadh on Wednesday, will see an new entity called Newlab KSA in Saudi Arabia.
Newlab is a leading company in technology, innovation, and the development of sustainable solutions related to the energy, mining, industrial, and logistics sectors.
The deal is part of NIDLP’s efforts to enhance its international partnerships and cooperative relationships to attract investments and support entrepreneurship.
Newlab is already assisting startups in “transitioning from concept to impact while also mobilizing industry leaders, governments, and investors to accelerate tangible progress against the most pressing challenges in various fields,” the Saudi Press Agency reported.
Newlab also signed deals with a number of Saudi entities including the Ministry of Industry and Mineral Resources, the Ministry of Investment, Saudi Aramco, the Saudi Arabian Mining Company (Ma’aden), the King Abdulaziz City for Science and Technology (KACST), the Research, Development and Innovation Authority (RDIA), and the National Technology Development Program (NTDP).
“They aim to develop a new regional platform for deep technology projects, integrating innovative capabilities, operational excellence, and infrastructure assets to advance the goals and outcomes of the regional platform,” according to SPA.
“They also focus on developing challenge-based programs in various sectors to attract leading global startups to the region and stimulate high-impact pilot projects that accelerate the development, expansion, and adoption of climate solutions.”