LAB7 the venture building arm of Aramco energizing innovation in Europe

LAB7, a deeptech venture builder, has marked a new milestone in its European journey, with the closing of an investment round and partnership to develop a long-duration energy storage system.

LAB7, the strategic partner for transformative startups, has worked with Finland’s Halide Energy, in the first close of an investment round, that was led by BSV Ventures, for the development of an innovative redox flow battery technology.

The deal represents another significant step towards growing LAB7’s presence in Europe’s thriving technology startup sector.
LAB7 is a deeptech venture builder that acts as an extension of startup teams through active support to accelerate product launch and market access. 

Based in Dhahran, Saudi Arabia, LAB7 is located just a short stroll from the site of Aramco’s first commercial well discovered in 1938, from which it gets its name – known at the time as Dammam No. 7.

LAB7 works closely with entrepreneurs to develop and advance their technologies, build robust business models, and accelerate product launch by providing the technical infrastructure, domain expertise, and strategic support needed to transform disruptive solutions into thriving startups. With a collaborative, hands-on approach, LAB7 acts as a strategic partner to entrepreneurs, offering support from early product development to market entry.

International growth

Halide Energy is one of several recently established startups backed by LAB7, as it grows its global presence and pushes the boundaries of technology, while providing a system of support, collaboration, and expertise for accelerated product launch and market access.  
The Finnish venture is developing an innovative redox flow battery technology for grid-scale applications, addressing a key challenge in renewable energy adoption, by providing long-duration energy storage to support grid stability and reliability.  
  
Other ventures in LAB7’s portfolio include US-based startup Homeostasis, which converts captured CO₂ into high value carbon materials through an electrochemical process. Such international partnerships complement LAB7’s support for homegrown startups in Saudi Arabia, including B2Code, a digital validation of construction engineering packages against engineering standards, and SafaSun, a water-free solar panel cleaning solution using autonomous technology. Both homegrown ventures recently won Edison Awards, known as the Oscars of Innovation, for their innovative products

Global Call for Startups 

Beyond its direct support for technology-driven startups, LAB7 is also participating in the global innovation ecosystem through launching a global call for startups in Industrial Artificial Intelligence (AI) and Semiconductors. Led by LAB7 and hosted on the World Economic Forum’s UpLink, early-stage innovation engine, the startup challenge was launched at the World Economic Forum’s annual meeting in Davos in January 2026.

The startup challenge, which is open for submissions until March 31, 2026, is inspired by the growing need for faster, more efficient, and cost-effective computing systems arising from the rapid evolution of digital infrastructure and industrial AI. 

It is aimed at startups, founders, and innovators developing breakthrough semiconductor technologies that have the potential to advance the next wave of computing through novel materials and advanced packaging addressing power, memory, and communication challenges.
Through its unique approach in supporting deeptech venture builders at the earliest stage of their life cycles, LAB7 aspires to support the modern era’s pioneers of technological discovery, continuing a legacy of exploration and discovery which began more than 80 years ago.

About LAB7

LAB7 is a venture builder backed by Aramco, operating within an Aramco subsidiary. Dedicated to pushing the boundaries of technology, LAB7 provides a system of support, collaboration, and expertise for accelerated product launch and market access. 
For more information: www.LAB7.com.sa 

International growth

Halide Energy is one of several recently established startups backed by LAB7, as it grows its global presence and pushes the boundaries of technology, while providing a system of support, collaboration, and expertise for accelerated product launch and market access.  
The Finnish venture is developing an innovative redox flow battery technology for grid-scale applications, addressing a key challenge in renewable energy adoption, by providing long-duration energy storage to support grid stability and reliability.  
  
Other ventures in LAB7’s portfolio include US-based startup Homeostasis, which converts captured CO₂ into high value carbon materials through an electrochemical process. Such international partnerships complement LAB7’s support for homegrown startups in Saudi Arabia, including B2Code, a digital validation of construction engineering packages against engineering standards, and SafaSun, a water-free solar panel cleaning solution using autonomous technology. Both homegrown ventures recently won Edison Awards, known as the Oscars of Innovation, for their innovative products

Global Call for Startups 

Beyond its direct support for technology-driven startups, LAB7 is also participating in the global innovation ecosystem through launching a global call for startups in Industrial Artificial Intelligence (AI) and Semiconductors. Led by LAB7 and hosted on the World Economic Forum’s UpLink, early-stage innovation engine, the startup challenge was launched at the World Economic Forum’s annual meeting in Davos in January 2026.

The startup challenge, which is open for submissions until March 31, 2026, is inspired by the growing need for faster, more efficient, and cost-effective computing systems arising from the rapid evolution of digital infrastructure and industrial AI. 

It is aimed at startups, founders, and innovators developing breakthrough semiconductor technologies that have the potential to advance the next wave of computing through novel materials and advanced packaging addressing power, memory, and communication challenges.
Through its unique approach in supporting deeptech venture builders at the earliest stage of their life cycles, LAB7 aspires to support the modern era’s pioneers of technological discovery, continuing a legacy of exploration and discovery which began more than 80 years ago.

About LAB7

LAB7 is a venture builder backed by Aramco, operating within an Aramco subsidiary. Dedicated to pushing the boundaries of technology, LAB7 provides a system of support, collaboration, and expertise for accelerated product launch and market access. 
For more information: www.LAB7.com.sa