There is a simple equation that predicts whether we will fail in our fight against climate change. The math is straightforward: Global energy demand is outpacing the growth of supply of clean energy capacities. The difference is being made up by burning coal, oil, and other non-renewable sources. Without significant investments over the next decade in renewable energy, many countries, especially those in the Global South will continue to rely on traditional forms of energy to drive their economies and ensure the security of supply.
- SpiderSilk raises $9 million from Aramco’s venture capital arm Wa’ed
CAIRO: Saudi Arabia’s venture capital landscape has profoundly influenced the regional ecosystem, with startups attracting investments from the Kingdom’s speculators.
One of these startups is Emirati-based SpiderSilk, which raised $9 million from Aramco’s venture capital arm Wa’ed Ventures with participation from Saudi-based STV and the UAE’s Global Ventures.