The agreement, signed at the World Future Energy Summit (WFES) in Abu Dhabi by TAQA CEO Saeed Hamad Al Dhaheri and LakeDiamond CEO Dr. Pascal Gallo, aims to strengthen TAQA’s energy evacuation system and redundancy by leveraging LakeDiamond’s power-beaming technology and use of photovoltaic cells to make electricity more accessible across one of TAQA’s core markets and reduce energy costs.
Speaking on the launch of the partnership, LakeDiamond CEO Dr. Pascal Gallo commented, “Today’s announcement is a technological leap for the energy sector, and we look forward to collaborating with TAQA on this innovative initiative for the future of sustainable energy distribution.”
As part of the agreement, TAQA will add redundancy to its energy evacuation system in Morocco to deploy wirelessly transmitted energy using lasers that incorporate lab-grown diamonds to high-power solar panels. Lab-grown diamonds enable the laser beam to remain strong over long distances to power the solar panel’s photovoltaic cells. By using laser technology, LakeDiamond and TAQA will be able to transfer energy more efficiently rather than using more conventional and costly cable-based electricity transfer.
TAQA’s strategy for 2019 is to enhance efficiencies across both its power and water and oil and gas assets through the deployment of innovative technologies. The partnership with LakeDiamond exemplifies TAQA’s ambition to focus on sustainability and increase its stake in renewables. By 2030, the publicly listed company aims to have 10% of its assets be renewable energy.
At the launch, TAQA CEO Saeed Hamad Al Dhaheri remarked, “TAQA is committed to exploring the most cutting-edge technology to enhance efficiency and contribute to more sustainable energy sources. Our new partnership with LakeDiamond, starting in Morocco, will contribute to cost-savings and provide an important use case for laser technology that we could potentially replicate across other assets.”
LakeDiamond has successfully tested its power-beaming technology to power drones and is part of a support program of the Swiss Space Office to transmit power to satellites. LakeDiamond uses a process of chemical vapor deposition to grow its diamonds, an approach that ensures their unique purity and reproducibility.
About TAQA
TAQA is an international energy and water company listed in Abu Dhabi, operating in 11 countries across four continents. The word “TAQA” means energy in Arabic.
TAQA strives to run its company safely and sustainably, operating to the highest ethical standards. The company is proud to align its strategy to Abu Dhabi’s Economic Vision 2030, a road map for a sustainable economy with a focus on knowledge-based industry.
TAQA has investments in power generation, water desalination, oil and gas exploration and production, pipelines and gas storage. The company's assets are located in Canada, Ghana, India, Iraq, Morocco, Oman, Saudi Arabia, the United Arab Emirates, Netherlands, United Kingdom, and United States.
About LakeDiamond
LakeDiamond is a global leader in the production of lab-grown diamonds for high-tech industrial applications. Incorporated in 2015 in Switzerland, building on years of research at EPFL (Swiss Federal Institute of Technology in Lausanne), developing reactors capable of growing ultra-pure diamonds and exploring potential high-tech industrial applications, LakeDiamond brings together globally renowned and respected professionals with a proven track record in physics, industry, computer science, marketing and finance.
LakeDiamond’s Chemical Micro-Wave Chemical Vapor Deposition (MCVD) reactors grow the highest quality of diamond on earth, suitable for the most demanding applications, thanks to a perfectly controlled and precise technology. The qualities attained are such that they trigger new exciting applications beyond the high-end jewellery market, such as micro-mechanical parts, laser power beaming, high power transistors and high-precision magnetometers. LakeDiamond has some exclusive intellectual property (patents, licences) and know-how, which are a significant competitive advantage in these high-tech markets. Currently 20 people work at LakeDiamond.
Contact: Jérôme Bailly, +41 78 878 78 26, [email protected]|lakediamond.ch | Twitter: https://twitter.com/LakeDiamond |LinkedIn: https://www.linkedin.com/company/lakediamond | Medium: https://medium.com/@LakeDiamond | YouTube: https://www.youtube.com/channel/UCax1IHyIqGPtK-XpebQAXLw
Media Contact Details
Jérôme Bailly
Head of Marketing & Communication, LakeDiamond
[email protected]
+41 78 878 78 26
Alphonse Daudré-Vignier
Head of Corporate Practice, Weber Shandwick
[email protected]
+41 79 127 63 58
