Sweden’s bearing and seal manufacturing company SKF will invest SEK 50 mn (USD 4.7 mn) in a new magnetic bearing plant in Morocco, according to a statement. “As this technology is now playing a central role in green industries, we need to make sure we can maintain our leading position in terms of technical development and customer service. Our new site in Morocco is an important step in this direction,” SKF’s President for Independent and Emerging Business Thomas Fröst said.

Why this matters for green industries: Magnetic bearings have multiple uses within turbomachinery and other high-speed applications, including hydrogen gas liquefaction and oil-free industrial compressors, the statement said. Active magnetic bearings provide the same advantages to hydrogen gas liquefaction for transport and storage as they do with hydrocarbons, according to the company’s website. It can also be used in carbon capture, utilization and storage (CCUS) to help keep CO2 emissions out of the air by collecting CO2 at the source and storing it in locations like empty oil and gas wells.

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AFC, Morocco partner over financing solutions for key sectors: Africa’s infrastructure solutions provider Africa Finance Corporation has signed an MoU with Morocco’s Economy and Finance Ministry to provide project development and financing solutions for projects in renewable energy and natural resources, according to a statement. Pipeline projects under discussion include cooperation under the country’s renewables strategy and the refurbishment of railway infrastructure to enhance mobility between rural towns and Rabat, the statement said.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• Oman’s Nama Power and Water Procurement Company — previously OPWP — has adjusted the combined cost of its 1 GW Manah 1 and Manah 2 solar plants to USD 800 mn instead of the previously expected USD 780 mn. (Muscat Daily)
• Abu Dhabi Waste Management Company (Tadweer) is distributing new, larger-capacity green recycling containers in central locations across the UAE as part of its initiative to improve waste sorting and promote recycling. (Wam)