Nusaned Investment, an investment company owned by Saudi petrochemical giant Sabic, and Germany-based Schmid Group have closed their joint venture (JV) transaction focusing on manufacturing and technology development in the field of Vanadium Redox Flow Batteries (VRFB). The joint venture Advance Energy Storage System Investment Company aims to become a global technology leader and champion in the fast-growing utility-scale energy storage segment, supporting the kingdom’s Vision 2030 economic diversification objectives ...