Alat and Carrier Partner to Advance Climate and Energy Solutions in the Kingdom of Saudi Arabia

RIYADH, Feb. 20, 2024 - Alat (Alat), a PIF company, and Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced their commitment to build a cutting-edge manufacturing and R&D facility in Saudi Arabia that will deliver advanced heating, ventilation and air conditioning (HVAC) solutions. The partnership will serve customers in the Kingdom, and its visionary Giga projects, such as NEOM, as well as ensure broader regional – and even global – distribution. Alat was established on February 1, 2023, by His Royal Highness Prince Mohammed bin Salman Abdulaziz Al Saud, Crown Prince and Prime Minister, Chairman of the Board of Directors of Alat.