SolarOne Solutions, Inc. and Al-AbdulKarim Holding Announce License Agreement for Solar Lighting Systems in Saudi Arabia
Deal Signed at US-Saudi Investment Forum Conducted with King Salman's First Visit to U.S.
September 9, 2015 SolarOne Solutions and Al-AbdulKarim Holding (AKH) have signed a license agreement to assemble, install and service SolarOne's solar powered street light systems in Saudi Arabia.
This agreement comes on the heels of significant orders received by the
firms to install SolarOne's solar streetlights along roadways leading to remote industrial facilities in the Kingdom.
The partners signed the deal at the September 4th "US-Saudi Investment Forum 2015" held in Washington D.C. in conjunction with King Salman's historic visit to the United States and meeting with President Obama.
The agreement is the next step in the SolarOne/AKH relationship after the firms jointly secured orders to install more than 2000 solar powered street light systems to illuminate over 60 Kilometers of roadway leading to remote oil and gas production facilities.