The following is a summary of all announcements from the past month regarding investment deals, partnerships, and other commercial news between U.S. and Saudi companies.
Oil, Gas, & Petrochemicals
Saudi Aramco Signs Long-Term LNG Supply Agreement in Louisiana
Saudi Aramco signed a long-term supply deal with Commonwealth LNG. The size of the annual shipments will be 1 million tons. The Cameron, Louisiana, facility will have a nameplate annual capacity of 9.5 million tons of liquefied gas.
Aramco is a member of the Business Council.
Defense & Aviation
Lockheed Martin Launches New Software Factory in Riyadh
Lockheed Martin, a global defense technology company, announced the opening of a software factory in Riyadh. The move is aimed at introducing the company’s advanced software development ecosystem to the Kingdom, enabling the rapid development of sovereign software applications and supporting their integration into Lockheed Martin platforms and systems.
Lockheed Martin is a member of the Business Council.
Renewables
Energy Leaders Abunayyan Holding and Nextpower Complete Formation of Joint Venture, Nextpower Arabia
Tacoma Carbon Conversion Startup Lands Major Investment from Saudi-Based Company
A Tacoma-based carbon-conversion startup has received international attention – securing a major investment from a Saudi Arabia-based company to continue turning carbon dioxide waste into much-needed materials. Homeostasis was co-founded in 2022 by Makoto Eyre and Julien Lombardi, now CEO and chief science officer, respectively.
Mining & Minerals
Critical Metals Eyes Saudi JV to Refine Rare Earths
New York-based Critical Metals said it has signed a non-binding term sheet with Saudi’s Tariq Abdel Hadi Abdullah Al-Qahtani & Brothers for a joint venture that would refine 25 percent of the planned capacity from Tanbreez’s rare earths in the Kingdom. The agreement, if finalized, would give Critical Metals guaranteed customers and likely ease its path to full financing for the project, estimated to cost $290 million to start production by 2027.
On January 15, 2026, during the Future Minerals Forum in Riyadh, Saudi Arabia, U.S. Strategic Metals (USSM), a vertically integrated, multi-metallic critical minerals platform based in Missouri, signed a Memorandum of Understanding (MOU) with the National Industrial Development Center (NIDC) to deploy USSM’s multi-metallic refining technology in the Kingdom of Saudi Arabia.
ITC
Rockwell Automation, Inc., the world’s largest company dedicated to industrial automation and digital transformation, announced a deepened collaboration with Lucid, maker of the world’s most advanced electric vehicles, to support the automaker’s expanding manufacturing facility in King Abdullah Economic City (KAEC) in Saudi Arabia. Lucid will deploy Rockwell Automation’s enterprise software solutions to manage and optimize production operations across all major shops: general assembly, paint, stamping, body, and powertrain.
Finance & Investment
More than 45 Agreements Signed at Global Labor Market Conference
Thousands of training and employment opportunities have been generated by more than 45 agreements signed on the opening day of the third Global Labor Market Conference in Saudi Arabia, including an agreement between Takamol Holding and the International Association of Exhibitions and Events to enhance operational excellence and support the development of sustainable labor market ecosystems.
