LakeDiamond CEO Dr. Pascal Gallo and TAQA CEO Saeed Hamad Al Dhaheri at the signing of the agreement at the World Future Energy Summit (WFES) in Abu Dhabi.
Abu Dhabi National Energy Company PJSC (TAQA), a leading water and energy company with assets in 11 markets around the world, and LakeDiamond, a leader in the production of laboratory grown diamonds for high-tech industrial applications, have launched a partnership to reduce energy infrastructure costs and and facilitate sustainable, clean, and safe electricity distribution.
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.