Mubadala Investment Company (Mubadala), The Abu Dhabi National Oil Company (ADNOC), and ADQ, announced in a statement regarding the signing of a Memorandum of Understanding (MoU) to establish the Abu Dhabi Hydrogen Alliance.
As per the statement, the Alliance partners will collaborate to establish Abu Dhabi as a trusted leader of low-carbon green and blue hydrogen in emerging international markets. They will also work together to build a substantial green hydrogen economy in the UAE.
Under the terms of the agreement, the Alliance will develop a roadmap to accelerate the UAE’s adoption and use of hydrogen in major sectors such as utilities, mobility and industry, through their respective operating companies and with international partners.
Mubadala, ADNOC and ADQ will also align on their approach to international markets, for projects developed under the Alliance, to position Abu Dhabi as a reliable and secure supplier of hydrogen and its carriers to customers around the world as demand grows.
During a virtual ceremony, the MoU was signed by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Group CEO, Khaldoon Khalifa Al Mubarak, Managing Director and Group Chief Executive Officer of Mubadala Investment Company, and Mohamed Hassan Alsuwaidi, Chief Executive Officer of ADQ.
As per the announcement, the companies are building on their complementary strengths to accelerate Abu Dhabi’s hydrogen leadership.
ADNOC already produces around 300,000 tons per annum of hydrogen for its downstream operations, with plans to expand to more than 500,000 tons, and is well placed to build on its advantaged position as a major natural gas reserves holder and producer, with existing infrastructure and strong partnerships and customer relationships around the world.
Mubadala, Siemens Energy sign MoU
In another MOU, Mubadala Investment Company (Mubadala) and Siemens Energy, have signed a Memorandum of Understanding (MoU) with the intention of creating a strategic partnership to drive investment and development of advanced technology, manufacture of equipment, and green hydrogen and synthetic fuel production.
The initial focus of activity will be in Abu Dhabi and it is intended this will be expanded to international markets over time.
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