Oman's Port of Duqm inks two green partnerships: The Port of Duqm inked a partnership agreement with waste management company Evergreen Gulf Recycling Hub in a bid to become an “environmentally friendly” hub, according to a statement. The Port also inked an MoU with energy-conservation solutions company Unicorn International LLC on several green projects including solar energy and green educational sessions for youth, it said in a separate statement.

A KSA lithium-tech startup is getting funds from Ma’aden and Kaust: Ma’aden has partnered with King Abdullah University of Science and Technology (Kaust) to co-invest in the latter’s lithium-tech startup Lithium Infinity (Lihytech), Ma’aden said on Thursday. Lihytech has patented a membrane-based lithium extraction technology that extracts the alkali metal from seawater, brine, red mud, and other unconventional materials. The technology also uses a ceramic membrane to filter the lithium ions effectively. The potential investment value was not disclosed.

It’s not the first time: Ma’aden and Kaust Innovation Ventures Fund announced plans to invest USD 4 mn and USD 2 mn in Lihytech, respectively, back in January. The startup said that the funds raised will be used to build a pilot facility at Kaust to extract lithium from the Red Sea and other resources in the kingdom.

Saudi is trying to get ahead of a possible future lithium crunch: The IEA expects the supply of lithium, a major component of EV batteries, to reach 420k metric tons by 2030, slightly below the 443k needed to meet announced government pledges, and well below the 702k necessary for a net zero scenario. The world could face a lithium supply deficit as early as 2025 due to the accelerated transition to EVs, CNBC said last month.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• IMF to provide Morocco with USD 1.3 bn to build climate resilience: The IMF has reached a staff-level agreement with Morocco on a USD 1.3 bn loan aimed at improving the country's resilience to climate-related disasters from the fund's Resilience and Sustainability Trust. (Reuters)
• Oman and UK discuss renewables investments: The governments of Oman and the United Kingdom reviewed ways to increase bilateral trade agreements and investments in renewable energy projects such as green hydrogen, in addition to the works of the Omani-British advisory group. (Oman News Agency)
• Iran signs cooperation agreement with China on e-bikes: Iran’s Anzali freezone has facilitated the signing of cooperation agreements between China’s Fujian Province and Iranian trade zones to invest in the production of electric bicycles and motorcycles. (IRNA)
• More transmission lines for Neom: India’s KEC International has secured a USD 138 mn contract to design, supply, and install a 380 kV overhead transmission line in Saudi Arabia’s net zero city Neom. (Statement)