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American Chemist, Omar M. Yaghi, Receives the 2024 Tang Prize in Sustainable Development

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American Chemist, Omar M. Yaghi, Receives the 2024 Tang Prize in Sustainable Development
Business

Business

American Chemist, Omar M. Yaghi, Receives the 2024 Tang Prize in Sustainable Development

2024-06-18 12:32 Last Updated At:12:55

TAIPEI, June 18, 2024 /PRNewswire/ -- The Tang Prize, a biennial award established in 2014, has honored five cycles of laureates across various fields. Today (June 18th), the Tang Prize Foundation announced Omar M. Yaghi, an esteemed American chemist, as the recipient of the 2024 Tang Prize in Sustainable Development. Prof. Yaghi is awarded for his extraordinary contributions to sustainable development, particularly his pioneering work with Metal-Organic Frameworks (MOFs) and other ultra-porous frameworks that can be tailored for carbon capture, hydrogen and methane storage, and water harvesting from desert air. Prof. Yaghi's research has revolutionized the field of chemistry and materials science, offering transformative solutions for sustainable development through the creation of customizable materials with exceptional properties.

Prof. Yaghi is currently the James and Neeltje Tretter Chair Professor of Chemistry, Department of Chemistry, University of California, Berkeley, a Faculty Scientist Affiliate at Lawrence Berkeley National Laboratory, and the Founding Director of the Berkeley Global Science Institute. Prof. Yaghi has introduced a new method for controlling four of the smallest gas molecules in the atmosphere that significantly impact our planet's sustainable development: carbon dioxide, hydrogen, methane, and water. This was made possible through his pioneering development of a new field of chemistry known as reticular chemistry. Reticular chemistry is a new approach to creating materials by linking organic and inorganic units into strong, porous crystalline structures called metal-organic frameworks (MOFs) and covalent organic frameworks (COFs). Prof. Yaghi demonstrated how these novel framework materials can trap, concentrate, and manipulate hydrogen, methane, carbon dioxide, and water from the air, offering innovative solutions to pressing issues related to the United Nations' Sustainable Development Goals (SDGs), including energy, environment, and water resources.

As a pioneer of MOFs and COFs, Prof. Yaghi is the first scientist to apply these innovative materials to the field of sustainable development, demonstrating tangible and impressive results. His pioneering work has yielded impressive results. For example, he demonstrated that incorporating one of his MOFs increases the carbon dioxide storage capability at room temperature by 18 folds. Furthermore, chemically modified MOFs and COFs can selectively capture voluminous amounts of carbon dioxide from combustion gases. In the context of methane storage, a fuel tank filled with MOFs can triple the amount of methane stored at room temperature and safe pressures compared to a tank without MOFs under the same conditions. This achievement allows automobiles to triple the distance traveled without refueling. Additionally, for hydrogen storage, MOF and COF materials can store up to twelve weight percent of hydrogen (at 77 K and 100 bar) in a tank filled with MOFs, making this technology relevant to the safe and stationary storage of hydrogen.

Using just a kilogram of MOF materials, Prof. Yaghi can harvest water in water-scarce areas with low humidity, such as deserts, using only ambient sunlight. The water is concentrated in the pores of MOFs, and its quality exceeds the standards for drinking water set by the U.S. Food and Drug Administration (FDA) and the Environmental Protection Agency (EPA). In collaboration with industrial companies including General Electric and startups in the past few years, he has developed portable MOFs water harvesters capable of producing hundreds of liters of water per day in an energy-efficient and cost-effective manner, sufficient for meeting the needs of a family.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

American Chemist, Omar M. Yaghi, Receives the 2024 Tang Prize in Sustainable Development

American Chemist, Omar M. Yaghi, Receives the 2024 Tang Prize in Sustainable Development

HONG KONG, July 22, 2024 /PRNewswire/ -- In October 2023, Hormoz Faryar joined ATFX as the Managing Director of Institutional Sales in MENA. With over 23 years of invaluable experience in FX trading and sales, Hormoz brings a wealth of knowledge and expertise to his new role. Today, Hormoz will share insights into the opportunities in the MENA region and how he will help expand the brand in upcoming projects.

Hi Hormoz, as the Managing Director of Institutional Sales in MENA, please tell us why you joined ATFX. Can you provide an overview of your role as the Managing Director at ATFX Connect, the institutional brand of ATFX group?

Hormoz Faryar:

"There are several reasons for joining ATFX, and most of them relate to client solutions and employee empowerment. Within our industry, ATFX stands out as a remarkable organization that prioritizes creating innovative and effective solutions for its clients. What's unique about my journey is that I had the privilege of working alongside almost 10 ex-colleagues who are now part of ATFX's 700+ talented workforce. This gave me an intimate understanding of the exceptional work environment and culture even before joining.

As the Managing Director of Institutional Sales at MENA, my role is primarily focused on overseeing our institutional client business. This involves working from our new A-class Dubai office and leveraging ATFX's extensive resources, cutting-edge technologies, and global reach to provide top-notch service and support to our valued institutional clients. In this dynamic and forward-thinking environment, I am empowered to take on new challenges and continually enhance my professional skills.

By joining ATFX, I am confident that I have aligned myself with a company that not only values its employees but also prioritizes excellence in client solutions. I am excited to be part of an organization that fosters growth, encourages innovation, and truly cares about delivering exceptional results to both its clients and employees."

What do you see as the key challenges and opportunities for ATFX Connect within the MENA market?  And what strategic initiatives do you plan to implement in order to expand ATFX Connect presence in the region?

Hormoz Faryar:

"The financial services sector in the MENA region is highly competitive, with both local and international players vying for market share. ATFX Connect must effectively differentiate itself to stand out in this crowded market. Moreover, the region has diverse regulatory landscapes, with each country having its own set of regulations and compliance requirements. Navigating through these regulatory frameworks can be challenging for financial institutions.

However, the MENA region is witnessing a growing interest in financial markets, driven by economic diversification efforts, increasing wealth, and both young and mature demographics with a penchant for technology. The growth of technology and demands in the MENA financial sector presents opportunities for ATFX Connect to leverage innovative solutions and digital platforms to reach and engage with clients more effectively. In the same time, investors in the region are increasingly seeking diversified investment products beyond traditional asset classes. ATFX Connect can capitalize on this demand by offering a wide range of investment options and tailored solutions.

ATFX Connect adheres to regulatory requirements in each operating country, following local laws and regulations and striving to maintain high standards. Tailoring products, services, and marketing efforts to cater to the specific needs and preferences of the MENA market, including language localization, cultural sensitivity, and customer support in local languages, are our main focus. We also invest continuously in technology infrastructure and digital solutions to enhance trading platforms, improve user experience, and provide innovative tools and features that meet the evolving needs of MENA clients.

ATFX Connect has been successfully drawing in a high calibre of clients and team members simultaneously, which presents a significant opportunity for us to broaden our presence in the MENA market. Currently, we're dedicating efforts to a number of substantial projects that will become evident in the forthcoming months. These initiatives are expected to underscore our commitment to growth and innovation within the financial services sector."

Can you share any specific projects or partnerships in that have contributed to the success of ATFX Connect in MENA?

Hormoz Faryar:

"Over the past half-year, the most substantial factor contributing to our success has been the strategic addition of pivotal team members. For example, the FX industry veterans Drew Niv joint the group as the Chief Strategy Officer, Siju Daniel as the Chief Commercial Officer, and John Bogue as the Director of Insitutional Operation. Besides, launching partnerships and initiating projects play a valuable role, but the linchpin of maximizing outcomes from such endeavors hinges on having a team that is adept at extracting unrivalled value from them. Our hiring strategy has been laser-focused on assembling a cadre of industry trailblazers. This elite group has been tasked with innovating our product lines both for internal efficiencies and external services, which will have a transformative impact on how our clients, particularly those with ATFX Connect, interact with data as well as how they navigate and manage risk.

Moreover, we never stop forming strategic partnerships with local brokers, financial institutions, and technology providers to expand distribution channels, enhance service offerings, and strengthen market presence in the MENA region."

About ATFX
ATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities, including the UK's FCA, Cypriot CySEC, UAE's SCA, Australian ASIC, and South African FSCA. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides exceptional trading experiences to clients worldwide.

For further information on ATFX, please visit the ATFX website: https://www.atfx.com.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

ATFX Executive Talks: Hormoz Faryar, Managing Director of Institutional Sales, ATFX MENA

ATFX Executive Talks: Hormoz Faryar, Managing Director of Institutional Sales, ATFX MENA

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