Energy Capital Group is a Riyadh-based investment firm founded in 2008 by Ali Abdulaziz Alturki. It uses a broad network to identify new opportunities and establish partnerships across the region. It focuses on energy and energy-related services, working with Saudi Vision 2030 and Aramco’s IKTVA program to support national industrial growth. ECG builds services and solutions to tackle market supply constraints across the energy and industrial value chain. The fund pursues strategic expansion through operational and capital efficiency, aiming for long-term sector growth guided by disciplined financial management and innovation in sustainable technologies.
ECG’s investment strategy centers on developing local leaders in energy and industrial services. The firm acquires and integrates high-potential service providers at critical segments of the value chain, including equipment manufacturing, engineering solutions, and advanced systems for power, water, and industrial operations. Rather than upstream oilfield services, ECG focuses on areas with lasting demand for specialized offerings. Recent moves include the acquisition of Dar Al Balad Contracting, a prominent provider of engineering and maintenance for utilities and critical infrastructure.
Alongside industrial services, ECG supports clean technology and battery development. In October 2023, the fund invested in Pure Lithium, a US company advancing lithium metal batteries that aim to reduce reliance on graphite, nickel, cobalt, and manganese. Pure Lithium anticipates manufacturing costs under $50 per kilowatt-hour and production times near three days, a notable improvement over traditional lithium-ion methods. The investment may lead to a regional joint venture that would expand manufacturing capabilities in Saudi Arabia and support the nation’s energy transition objectives.
