Signing of the MOU between SCIT Supervisory Executive Board Member, Mohamed AbdelRehim, and Xenesis CEO, Mark LaPenna, during the LEAP event in Riyadh, Saudi Arabia 6th March 2024.
Space Communication for Information Technology Group (SCIT, a Saudi based investment house for Technology and Innovations startups, have signed a Memorandum of Understanding with Xenesis, a US based optical communications company providing services on global scale. This MOU outlined the preparation and alignment for potential strategic partnership towards an exclusive regional Networking-as-a-Service partnership prioritizing the Middle East, Africa, Turkey and India.
Led by SCIT Group, the MoU allows the framework to revolutionize the region as well as the world, positioning both Xenesis and SCIT as leaders in digital infrastructure focusing on global data movement through sustainable and scalable state-of-the-art technologies.
The objectives of this MoU and the associated potential investment to be raised are exploring and identifying the areas of cooperation between Xenesis and SCIT Group which fulfils the region’s ambition to leapfrog in the area of Global connectivity. These efforts are focused on:
- Developing the local echo system leading the transfer of know-how to Saudi Arabia by introducing the latest satellite & laser technologies being first in space of MEA, estimating to move 4.5 Tb/s of data through the entire constellation through the SCIT innovation hub the SCIT AIH.
- Jointly developing a global network infrastructure concept, having the GCC as the key pilot region with Saudi Arabia being the anchor country to introduce a new LEO based satellite service provider concept.
- Cooperating with regional & global infrastructure service providers, using the proposed high-speed data to unlock potential connectivity and speed gaps.
- Locally partnering with key Saudi investment bodies on creating a new manufacturing facility in the kingdom of Saudi Arabia to locally assemble and manufacture key satellite and laser components which aligns with the Saudi Arabia 2030 vision strategic objectives.
Headquartered in the Kingdom of Saudi Arabia, SCIT Group is driven by a strong belief in the power of technology to transform industries, solve complex challenges, and improve people’s lives by focusing on the region’s challenges and finding alignment with Xenesis and other SCIT partners.(period) SCIT Group Supervisory Executive Board Member, Mohamed K. AbdelRehim, ,stated “we at SCIT Group are pleased to announce our MOU with Xenesis to enable our ambition to bring forward advanced technologies, paving the road for Saudi Arabia to be the region 1st in Laser & Satellite Technology, both on earth & in space, now well into the future.”
Xenesis, is an unregulated telecommunications services provider, offering Networking-as-a-Service specializing in ultra-low latency/high-capacity data-agnostic data transport. Relative to alignment with SCIT and the MOU, Xenesis CEO, Mark La Penna, commented, “the next generation of telecommunications, via laser-optics in space, is here. We are focusing on moving data around the planet 25% faster, and more secure, than undersea cables or other legacy technologies…and we look forward to finding alignment with SCIT to support the Middle East, Africa, Turkey and India.”
From the LEAP conference at the signing of the MOU between SCIT and Xenesis, Mark LaPenna, Mohamed AbdelRehim, on 6 March 2024.
