The Red Sea Development Company, the developer of the Red Sea project, signed two memoranda of understanding with the international company “Blue Planet Ecosystems (BPE)”.
The MoUs were signed by John Pagano, CEO of the Red Sea Development Company, and Paul Schmitsberger, CEO of Blue Planet Ecosystems (BPE). The first memorandum aims to discuss with both parties ways to implement sustainable solutions based on the latest technologies for fish farming based on intense concentration of carbon dioxide.
Pagano added, “This farming system has a lower ‘environmental footprint’ and will contribute to carbon sequestration in our main destination as well as our future projects on the Red Sea coast, which will achieve our ultimate goal of achieving 100% carbon neutrality.”
The LARA robotic aquaculture device in terrestrial environments works with the recycling technology of natural aquatic ecosystems. By directly converting CO2 into chemical-free marine products using phytoplankton and zooplankton as transitional stages during the culture process. This machine consists of three horizontal units. In the first unit, the sun’s energy is harnessed to grow the microalgae on which the LARA system depends. Then the algae are transferred to the second unit below, where the zooplankton feed on them. To move in turn to the lower unit, forming the appropriate food for the farmed fish.
The pilot phase of the project will be implemented on an area of 3,500 m2 to assess whether the climatic conditions in the Red Sea Project are appropriate to create this sustainable solution with the greatest possible efficiency and effectiveness. This pilot phase will be the first of its kind for the system in the Middle East to open a production line on a commercial scale.
Paul Schmitsberger of Blue Planet Ecosystems (BPE) commented on this agreement: “It is really fascinating to see what can be achieved when innovation from our side meets with a clear vision of a sustainable future on the part of the Red Sea Development Company. The Red Sea Project shapes the cities of the future; We are really proud to contribute to this goal.”
Schmitsberger added: “In the Red Sea project, we found the right climatic conditions to experiment and establish our aquaculture technology. We are very excited about this amazing development journey, which we seek through our shared vision as two companies concerned with the environment and sustainability to turn sunlight into marine products.”
While the second Memorandum of Understanding that was signed addresses the parties’ intent to participate as a joint team – based on their shared environmental goals – in the XPRIZE Decarbonization Competition funded by the Elon Musk Foundation. The competition, with a prize value of $100 million, aims to find radical solutions to the biggest problem facing humanity, which is climate change and the rebalancing of the carbon cycle on the planet.