TEHRAN – The first national congress on artificial intelligence (AI) in natural resources aims to focus on challenges in education, research, and its applications in agriculture, natural resources, and the environment.

The two-day event will be held from September 4–5 at Shiraz University, Fars Province, with the theme ‘intelligent technology, green land, and sustainable future.

It highlights the integration of emerging technologies, such as AI, in research and technological projects.

Over 30 lecturers will share their scientific and research achievements through presentations divided into six panels and two specialized meetings, ISNA reported.

Two specialized sessions titled ‘Artificial Intelligence: Governance in Education and Research’ and ‘Precision Agriculture: Adoption, Education, Infrastructure’ will focus on AI challenges in education,  research, and its application in agriculture.

The congress will be centered around productivity and promotion of natural and agricultural industries, smart management of water resources and climate, meteorology, climate change and ecosystem, sustainable agriculture, smart agriculture, big data and agricultural development, biodiversity and pests, remote sensing of natural resources, nature management, improvement of food quality and security, smart robotics, technological education, as well as ethical research in agriculture.

Some $100 million allocated to develop AI

In April, the Vice Presidency for Science, Technology, and Knowledge-Based Economy and the National Development Fund (NDF) signed a memorandum of understanding (MOU) to create a 100-million-dollar fund for the development of the artificial intelligence (AI) sector in the country.

Signed by Hossein Afshin, an official with the vice-presidency of science and technology, and Mehdi Ghazanfari, the head of the NDF, the MOU aims to establish a framework for the development and implementation of AI in line with the seventh national development plan (2023-2027) and the Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei’s emphasis on investing in emerging fields, ISNA reported.

Accordingly, the projects introduced by the vice-presidency for science and technology will be funded through loans, partnerships, and other ways of financing. To further boost cooperation between universities and the private sector, the NDF will grant specific loans to those companies that financially support AI-based projects in universities and scientific centers.

In return, the vice-presidency for science and technology will use financing tools for emerging technologies.

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Texas-based Fermi America announced the closing of a total $350mn financing package to support the development of its private energy project HyperGrid™, a behind-the-meter energy campus designed to meet the growing needs of artificial intelligence. The financing includes a $100mn Series C preferred equity raise and a $250mn senior loan facility, both led by Macquarie Group.

The HyperGrid™ Project is being developed in partnership with the Texas Tech University System and aims to become a benchmark energy infrastructure for high-intensity data centres. Under the terms of the deal, $100mn was immediately drawn from the loan facility, provided by Macquarie Group’s Commodities and Global Markets division. The funds will enable the purchase of long-lead supply chain assets and the mobilisation of resources required to construct the project’s first phase.

Full financial support driven by Macquarie

Macquarie Group’s full participation in both debt and equity provides Fermi America with strategic financial backing. Joshua Stevens, Managing Director in Macquarie’s Commodities and Global Markets division, said that Fermi America’s platform is “well placed to address the fast-growing needs of AI and other high-performance computing applications.” No other investors were mentioned in this funding phase.

For Fermi America, this operation represents a critical step in securing global supply chain components and strengthening its operational team. Co-Founder and Chief Executive Officer Toby Neugebauer stated that the company’s speed of execution is based on proven experience in real-time power generation and industrial construction.

Initial construction phase and targeted recruitment

The first phase of the HyperGrid™ Project will begin with the support of this financing. It will include the securing of critical equipment, the integration of subject matter experts, and the launch of energy infrastructure construction. The project is being developed in a region historically tied to American energy industrialisation, reinforcing both its symbolic and logistical importance.

The financial structuring of the transaction was handled by Cantor, Newmark and Donovan & Co., while legal counsel was provided by Haynes Boone, Latham & Watkins, and Vinson & Elkins L.L.P. No full delivery timeline has yet been announced, but the rapid progress of the initial stages of the project remains a priority for Fermi America’s management.