Saudi Arabia-based energy company Saudi Aramco on Sunday officially launched it corporate venturing subsidiary Saudi Aramco Energy Ventures, which was first flagged by Global Corporate Venturing in February. Khalid Al-Falih, president and chief executive, Saudi Aramco, said: “Saudi Aramco Energy Ventures represents a significant step forward in our corporate transformation to become the world’s leading integrated energy company with innovation as a key attribute. As we continue to address long-term energy challenges, SAEV will help us more effectively engage with the global community of innovators and entrepreneurs who are increasingly important enablers of growth and value in our industry through the development of leading-edge technologies.”

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