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Saudi Arabias Crown Prince Mohammed bin Salman (R) takes part in a working session with the US president (not pictured) at the Al Salam Royal Palace in the Saudi coastal city of Jeddah, on July 15, 2022.

Mandel Ngan | AFP | Getty Images

Saudi Arabia announced its commitment to building a nuclear energy program, as well as a pledge to allow greater oversight for atomic energy inspectors, at a time when the kingdom is pushing ahead with its drive to become a more powerful player on the international stage.

The Saudi energy minister said his country would move to much more robust safeguards and checks from the International Atomic Energy Agency, the U.N.’s nuclear watchdog, than it had previously. Under the agency’s Small Quantities Protocol (SQP), the IAEA exempts countries with little or no nuclear material from many inspections and transparency requirements. 

“The kingdom has recently taken the decision to rescind its Small Quantities Protocol and to move to the implementation of a full-scope Comprehensive Safeguards Agreement,” Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud said during the annual conference of the IAEA in Vienna on Monday. 

“The kingdom is committed through its policy on atomic energy to the highest standards of transparency and reliability,” he said.

The watchdog agency had been pushing the kingdom and other countries with SQPs to switch to the Comprehensive Safeguards Agreement (CSA) for years – IAEA Director General Rafael Grossi called them a “weakness” amid global non-proliferation efforts.

Rafael Grossi, Director General of the International Atomic Energy Agency, arrives for a meeting of the Board of Governors at IAEA headquarters on September 11, 2023 in Vienna, Austria.

Thomas Kronsteiner | Getty Images

In a post on social media platform X, Grossi wrote: “We signed an agreement for #SaudiArabia to provide the @IAEAorg with junior professional officers, marking a significant step in nuclear expertise and cooperation,” and thanked the kingdom for its support. 

The announcement put the spotlight on the kingdom’s nascent nuclear energy efforts — Saudi Arabia has a small nuclear reactor, a research unit set up with the help of Argentina, that it has not yet put into operation. Moving to the CSA will enable the kingdom to access fissile material and start running the reactor, which would make it the second Arab country in the world with a nuclear energy program after the United Arab Emirates.

“I look forward to receiving Saud Arabia’s formal communication about its decision,” Grossi said late Monday. “The IAEA stands ready to provide support in this regard.”

The Saudi energy minister did not comment on whether his country would also join the IAEA’s Additional Protocol, which requires more thorough oversight including snap inspections.

Concerns of a Middle East arms race

Prince Abdulaziz’s comments come amid increasing concern among nuclear nonproliferation experts and lawmakers about Saudi Arabia’s intentions with the technology. Saudi Crown Prince Mohammed bin Salman said in a recent wide-ranging interview with Fox News that if Iran developed nuclear weapons, Saudi Arabia would too. He initially made the same assertion in an interview with CBS in 2018. 

The kingdom under Mohammed bin Salman’s leadership has made strides in elevating its position as a global player, from hosting the G20 and mediating between Russia and Ukraine to investing billions of dollars in global sports deals and major events. It has flexed its muscle as a so-called “middle power,” establishing itself as a diplomatic actor able to leverage its relationships with both the West and Russia and China for its own benefit. A nuclear program would elevate that position further. 

Saudi Arabian Crown Prince Mohammed bin Salman Al Saud and U.S. President Joe Biden shake hands next to Indian Prime Minister Narendra Modi on the day of the G20 summit in New Delhi, India, September 9, 2023. 

Evelyn Hockstein | Reuters

Riyadh is also trying to obtain as many concessions as possible from Washington as the Biden administration tries to push it toward a normalization deal with Israel. U.S. assistance with a nuclear energy program is one of Saudi Arabia’s key demands — but not everyone is happy about that.

“A normalization agreement with Saudi Arabia would be a welcome development. But not at the cost of allowing the Saudis to develop nuclear weapons. Not at the cost of a nuclear arms race throughout the Middle East,” Israeli opposition leader Yair Lapid said in a statement last week. Numerous U.S. and European lawmakers have also voiced objections and concerns.

The development also comes against the backdrop of continued gridlock in talks between Washington and Tehran, the latter of which has been rapidly increasing its uranium enrichment levels in the years since former President Donald Trump pulled the U.S. out of the Iranian nuclear deal in 2018. The multilateral Obama-era deal had allowed the lifting of economic sanctions on Iran in exchange for curbs to its nuclear program. 

A picture taken on November 10, 2019, shows an Iranian flag in Iran’s Bushehr nuclear power plant, during an official ceremony to kick-start works on a second reactor at the facility.

ATTA KENARE | AFP via Getty Images

The IAEA in early September announced that there was “no progress” in the IAEA’s efforts to monitor Iran’s nuclear activity, and that “verification and monitoring has been seriously affected by Iran’s decision to stop implementing its nuclear-related commitments under the JCPOA,” the acronym for the Iran deal, which is formally called the Joint Comprehensive Plan of Action. 

Iran maintains that its program is solely for civilian purposes, but it has increased its uranium enrichment to 60% purity – just a short technical step away from 90% purity, which is the level needed for bomb-making capability. Iranian President Ebrahim Raisi said the changes came after European signatories to the JCPOA “trampled upon their commitments” in the deal.

Still, the U.N. watchdog said that Iran’s enriched uranium stockpile was down this month compared to May, potentially in a nod to the U.S. But it remained 18 times higher than its limit under the JCPOA. 

CNBC has contacted the Iranian foreign ministry for comment. 

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The Invanti Tornado is the Swiss Army knife of e-bikes [Video]

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The Invanti Tornado is the Swiss Army knife of e-bikes [Video]

Want your electric bike to have utility as well as comfort and style? Then, the Invanti Tornado, with its impressive array of optional accessories, could be your ideal ride.

Invanti is developing multi-functional e-bikes to reinvent the e-bike industry. It will launch an Indiegogo crowdfunding campaign on May 22 for its first product, the versatile Tornado e-bike series. Early backers can purchase the Tornado for a super early bird price of $1,299, significant savings vs. gas bikes.

Invanti makes it easy to protect your e-bike from theft with its “invantimobility” app. The smart version Tornado Pro has a smart front hub lock feature that, once activated, can only be unlocked using the app.

This zippy and efficient utility e-bike has a 750W rear hub motor, 1,000 peak power, and a 48V 14.7Ah battery with Samsung cells that give a top speed of up to 25 mph. The Shimano 7-speed transmission, 80 mm travel suspension, 4-piston hydraulic disc brakes, and torque sensor means riding is smooth. It also sports a pair of 20-by-3-inch puncture-resistant tires.

The Tornado provides a range of 60 miles on pedal assist and 25 miles on throttle only. You can additionally install an extra 48V, 10.4Ah battery that you take with you, giving a cumulative total of 100 miles on pedal assist and 43.5 miles on throttle only. Plus, you can use the extra battery as a portable powerbank for your phone.

What makes the Invanti Tornado stand out is the cool accessories it comes with. Your e-bike arrives with a front rack, a rear cargo rack, a rear fork storage bag with lockout, and rear wheel mudguards. It also features front and rear lights with integrated turn signals.

Plus, it offers a choice of nine upgrade accessories, which give this bike an almost modular feel. This means you can make your e-bike bespoke:

If you want to cart around passengers, you can make it happen with the Invanti Tornado’s optional rear seat pad and passenger foot rest, and there’s also a child safety handrail. Its dual-tube aluminum alloy frame can handle payloads of up to 440 pounds.

Invanti’s super early bird price on the Tornado is $1,299, and the official crowdfunding price is $1,499.

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This startup is about to install bladeless rooftop wind turbines on box buildings

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This startup is about to install bladeless rooftop wind turbines on box buildings

Aeromine Technologies just closed a $9 million funding round, and it’s ready to scale up production of its bladeless rooftop wind turbines.

Energy research, investing, and strategy firm Veriten is the lead investor in Aeromine Technologies’ Series A funding round.

Aeromine, launched in 2022, makes compact 50 kW or larger “wind harvesting platforms” that it mounts on the edge of a building’s roof. The rooftop wind units, which have no external moving parts or blades, capture wind flowing up and over the building and convert it into onsite electricity. Its generator system is a rotor-stator system with a highly efficient 5 kW permanent magnet generator. (Specs are here.)

The noiseless technology leverages aerodynamics like airfoils on a race car to capture and amplify each building’s airflow to generate energy. Aeromine says its systems typically consist of 20-40 units installed on the edge of a building facing the predominant wind direction.

Each 1,000-pound unit can withstand winds of between 120 and 158 mph depending on specification.

Aeromine’s units can operate independently or be integrated with existing rooftop solar arrays. Onsite power generation eliminates grid supply disruptions.

Maynard Holt, founder & CEO of Veriten, said:

We believe that distributed power innovation will play a vital role in helping companies fulfill their need for reliable, reasonably priced electricity and desire for low-impact power. We’re excited to partner with Aeromine, as its ability to quickly and affordably help a wide variety of companies meet their energy needs with wind resources is unique among distributed energy solutions.

The bladeless wind turbines are designed to power apartment buildings, warehouses, manufacturing facilities, offices, hospitals, retail centers – basically any big box building with a flat, unobstructed roof.

The company says it has 400 qualified projects in its pipeline and expects to roll out commercially in Europe and North America in 2025. 

Read more: How renewables could beat natural gas in US generating capacity within 3 years – in numbers


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Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –ad*

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Ford likely to enable all dealers to sell EVs amid shifting plans

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Ford likely to enable all dealers to sell EVs amid shifting plans

With changes expected to Ford’s electric vehicle certification program, all Ford dealers will likely be able to sell EVs. Ford is reportedly preparing to open the program amid feedback from its dealers.

Ford poised to open dealers network to sell EVs

After asking dealers to pause EV investments this week, Ford is finalizing changes to the program. Ford already eased requirements last year due to “changes in the market.”

Ford spokesperson Marty Gunsberg confirmed that several dealers opted out of the program this past December. Gunsberg said, “Enrollments for 2024 are just over 50% of the network.” That’s down from about two-thirds confirmed by CEO Jim Farley a year prior.

According to Automotive News, after a series of meetings between dealers and executives, Ford is now preparing to allow all dealers to sell EVs.

Ford is expected to update the financial requirements needed to qualify. Previously, dealers were required to invest at least $500,000 to enroll in the program. For $1.2 million, dealers could be eligible for the “Elite” tier, which included additional chargers, demo units, and a presence on Ford.com.

Ford-dealers-EVs
Ford Mustang Mach E at a Tesla Supercharger (Source: Ford)

If dealers didn’t want to invest, they couldn’t sell Ford EVs. Ford’s vice president of EV programs, Lisa Drake, said the company no longer believes having select dealers sell EVs is the right plan.

More dealers want in but with less financial commitment

“What we’re finding is more dealers want to be involved in it and we don’t want to be exclusive to just a handful,” Drake said. “And so we’re making a change where we’re opening up that and not requiring as many certifications or investments for a dealer to participate in the EV revolution.”

Meanwhile, the changes will not be finalized until early June, when Ford meets with its dealer council.

Ford-dealers-EVs
2024 Ford F-150 Lightning lineup (Source: Ford)

It’s unclear how much Ford will reduce financial requirements to sell EVs, but many believe it will be drastically relaxed to promote participation.

Drake said Ford will be “more ubiquitous with our training and make sure essentially all of our dealers are equipped to sell them” going forward. Ford will need to figure out how to deal with those who have already made investments at the upcoming dealer council meeting.

Ford-dealers-EVs
Ford Mustang Mach-E GT Bronze edition (Source: Ford)

Ford slashed prices on its popular Mustang Mach-E and F-150 Lightning in recent months to boost sales.

After cutting Mach-E prices by up to $8,100 earlier this year, Ford introduced a new 0% APR offer on 2024 models this week.

2024 Mustang Mach-E trim Range Starting Price
Mustang Mach-E Select 250 mi $39,995
Mustang Mach-E Premium 320 mi $43,995
Mustang Mach-E GT 280 mi $53,995
Mustang Mach-E Rally 265 mi $59,995
2024 Mustang Mach-E price and range by trim

Ford also introduced new discounts on the 2023 F-150 Lightning this week, offering up to $15,000 off MSRP. F-150 Lightning lease prices were cut by over $400 a month.

If you’re in the market for a new EV, now’s the time to start shopping. You can use our links below to find deals on Ford’s electric vehicles at a dealer near you.

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