By Stephen Nakrosis

Aramco and Rondo Energy on Friday said they signed a memorandum of understanding to work together on developing heat batteries in Aramco's global facilities.

The two companies have already initiated engineering studies for a first industrial scale deployment of Rondo Heat Batteries. Use of the batteries would contribute to reduction of emissions from Aramco facilities, the companies said.

Rondo said their heat batteries supply continuous energy from stored wind and solar power "at the gigawatt scale and high temperatures needed for industrial processes."

The two companies will also assess the potential for additional scale deployment of the technology at Aramco facilities across the globe, and agreed to explore joint development of different applications of the Rondo technology, including as hydrogen production and carbon capture.

In July, Aramco Ventures concluded an equity investment in Rondo.

Write to Stephen Nakrosis at

(END) Dow Jones Newswires

05-17-24 1634ET