AIFundingStartups

AI Startup Secures $9 Million to Tackle Industrial Inefficiencies in Middle East

A new artificial intelligence startup has secured $9 million in funding to address massive inefficiencies in critical Middle Eastern industries. The company targets sectors where mega-projects frequently run over budget and behind schedule.

Major Funding for Industrial AI Solutions

Artificial intelligence startup 1001 AI has reportedly secured $9 million in funding to develop AI infrastructure for critical industries across the Middle East and North Africa region, according to recent reports. The funding, announced in October, will enable the company to advance its mission of addressing significant inefficiencies in sectors including aviation, construction, and oil and gas.

EnergyPolicy

Rosebank Oil Field Emissions Reveal Major Climate Impact Following Legal Challenge

The controversial Rosebank oil field development faces renewed scrutiny after revised estimates show it would contribute 249 million tonnes of CO2 emissions over 25 years. Environmental groups argue the project contradicts UK climate commitments as the government faces pressure over fossil fuel dependence.

Legal Ruling Forces Full Climate Impact Assessment

Until recently, fossil fuel projects in the UK were only required to consider environmental impacts from extraction activities, according to legal reports. However, a Supreme Court ruling in June 2023 fundamentally changed assessment requirements after a Surrey resident challenged her local gas project development. The court determined that authorities must account for emissions from both extraction and end-use of the fuels, sources indicate.