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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

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Saudi institute invests $500,000 to research farming in space

  • The non-profit FII Institute has made the investment in the French firm Interstellar Lab
  • The Paris-based firm designs closed-loop bio domes for sustaining life on Earth, the moon, and Mars

The Saudi Arabia-based Future Investment Initiative Institute has invested $500,000 in the Paris-based Interstellar Lab to study farming in space.

The Saudi Press Agency reported that the non-profit FII Institute had made the investment in the French firm that designs closed-loop bio domes for sustaining life on Earth, the moon, and Mars.

The equity investment was reportedly a part of Interstellar Lab’s latest $3-million seed round.

The investment is said to be building on FII Institute’s commitment to relevant, real-world solutions in Artificial Intelligence, Robotics, Education, Healthcare, and Sustainability.

Through the investment, the institute will reportedly fund the development of AI simulation-based designs to tackle pressing environmental issues, as well as look for solutions in waste management, zero-impact living, and resource-conscious agriculture.

Barbara Belvisi, founder and CEO at Interstellar Lab, was quoted by reports as saying: “Climate change is a real emergency for Earth, and we only have a small window to bring about positive change. We are developing a new framework for sustainable living on Earth and a testbed for future space missions.”

She added: “Working with investors like FII Institute advances Interstellar Lab’s mission to support human life sustainably on Earth, the moon and Mars by generating and recycling food, water and air.”