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• Newly Established Consortium Signs Framework Agreement with Egyptian Government

bp has entered into a Joint Development Agreement (JDA) to join the existing consortium comprising of Masdar, Hassan Allam Utilities and Infinity Power to explore the potential development of a multi-phase green hydrogen (gH2) project in Egypt.

Under the JDA, bp will act as the lead developer and operator of the project on behalf of the consortium. The partners are combining their respective gH2 projects in Egypt and will also explore the potential for a single large-scale, multi-phase project for the development of gH2 and its derivatives, with a focus on exports.

The newly formed consortium has signed a Framework Agreement (FWA) with the Egyptian government to start carrying out a set of studies and activities to evaluate the technical and commercial feasibility of the project.

The FWA agreement was signed on the sidelines of the Egypt-EU Investment Conference by Nader Zaki, bp’s Regional President, Middle East and North Africa; Karim Hefzy, Chief Operating Officer of Hassan Allam Utilities; Andreas Bieringer, Director, Green Hydrogen Business Development and Commercial, Masdar and Mohamed Ismail Mansour, Chairman of Infinity Power, and witnessed by H.E. Dr. Moustafa Madbouly, Prime Minister of Egypt, Dr. Mohamed Shaker, the Minister of Electricity and Renewable Energy, and Dr. Hala El-Said, the Minister of Planning and Economic Development.

"We are pleased that the signing coincides with our celebration of 60 years in Egypt, which clearly reflects our ongoing commitment to the country. Over the decades, we have been a key supplier of energy in Egypt, consistently working to meet its increasing energy demands while supporting its endeavors for a more sustainable energy future. The diverse experiences of partners in energy projects present a great opportunity for regional cooperation and accessing global markets, fundamentally supporting Egypt's energy transition plans." said Nader Zaki, bp's regional president for the Middle East and North Africa.

Mohammad Abdelqader El Ramahi, Masdar’s Chief Green Hydrogen Officer said:

Amr Allam, Co-CEO Hassan Allam Holding, said:

Felipe Arbelaez, bp’s SVP Hydrogen and CCS added:

Mohamed Ismail Mansour, Chairman of Infinity Power said:

Nayer Fouad, CEO of Infinity Power added:

• Ministers, policymakers and industry leaders from around the world discuss how to advance development of global green hydrogen economy

• Former UK prime minister Rt Hon Boris Johnson praises UAE as a great center for technological innovation

• Abu Dhabi low carbon hydrogen policy will help attract innovators and key players

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, has hailed the conclusion of a highly successful Green Hydrogen Summit focused on accelerating the development of the global green hydrogen economy and supporting the energy transition.

Under the theme, Building the Hydrogen Economy: From Dialogue to Reality, the summit assembled an impressive line-up of stakeholders including ministerial speakers from the UAE, Azerbaijan, Japan and the Netherlands, policymakers, industry leaders, forward-thinking investors and pioneering entrepreneurs.

Keynote speaker, former UK prime minister the Rt Hon Boris Johnson, praised the UAE as one of the world’s great centers of technological innovation and highlighted the longstanding ties between the United Kingdom and the UAE on renewable energy projects in the past and into the future, including green hydrogen.

Johnson also commended HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and President of COP28, for his leadership in delivering the UAE Consensus at COP28.

In his address, Dr Bertrand Piccard, Chairman of Climate Impulse, who is planning the first hydrogen-powered flight to circumnavigate the planet, stressed the importance of the Green Hydrogen Summit and the work of Masdar in advancing the development and progress of green hydrogen.

The summit witnessed global hydrogen players engaging in insightful discussions on many critical topics, ranging from the role of hydrogen in the UAE, Europe, the US and Asia, its potential for industries such as steel and transportation and how to make projects more bankable.

H.E. Parviz Shahbazov, Minister of Energy for Azerbaijan, H.E. Yoshida Nobuhiro, Parliamentary Vice-Minister of Economy, Trade and Industry for Japan and Frederik Wisselink, Energy Envoy, Ministry of Economic Affairs and Climate Policy, The Netherlands, outlined national strategies and policies to accelerate green hydrogen economies.

Abu Dhabi’s low-carbon hydrogen policy and its potential to attract innovators, technology providers and key players in the green hydrogen sector while enabling Masdar to start developing cost effective, technology-driven, pioneering green hydrogen projects to the world were also highlighted.

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, commented:

The summit ended with a demonstration of Net Zero Navigator, the AI-driven platform which enables cross-referencing of current financial mechanisms, best policy environments and partnership models to allow the development and scaling of technologies, innovations and strategies to achieve net zero faster.

Masdar’s green hydrogen business aims to be a leading global producer by 2030, supporting Abu Dhabi’s Low-Carbon Hydrogen Policy announced during COP28, following a trilateral strategic collaboration between Abu Dhabi Department of Energy, ADIO and Masdar to position the UAE as a global hydrogen leader.

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• Masdar’s 2024 speaker lineup to include Former UK PM as keynote speaker, global adventurer Dr. Bertrand Piccard, alongside energy ministers and industry leaders

• As the host of World Future Energy Summit (WFES), Masdar presents second Green Hydrogen Summit on April 16 bringing key leaders together to advance the low-carbon economy

• High-level UAE energy stakeholders to highlight the nation’s green hydrogen roadmap

Abu Dhabi Future Energy Company PJSC – Masdar has announced a stellar international lineup for its Green Hydrogen Summit including former UK Prime Minister Rt Hon Boris Johnson, ministerial speakers from the UAE, Azerbaijan, Japan and the Netherlands, industry leaders and global adventurer Dr. Bertrand Piccard.

Masdar’s second Green Hydrogen Summit, taking place on April 16 at the World Future Energy Summit (WFES) in Abu Dhabi, will be held under the theme “Building the Hydrogen Economy: From Dialogue to Reality.” It will convene hydrogen players worldwide for in-depth discussions to accelerate the green hydrogen economy in support of the energy transition.

Keynote speaker Boris Johnson brings significant international experience of advancing clean energy initiatives. During his leadership as UK Prime Minister, Johnson laid out plans to develop a thriving low-carbon hydrogen sector as a key part of the country’s transition to net zero. Dr. Bertrand Piccard, Chairman of Climate Impulse, will also be speaking at the Summit. During his session he will outline progress on his aim for the first hydrogen-powered flight to circumnavigate the planet. Dr. Piccard’s record-breaking adventures include the first non-stop balloon flight around the world, as well as Solar Impulse, the first flight around the world in a solar-powered aircraft.

Hosted by the UAE’s clean energy champion Masdar, the Green Hydrogen Summit will feature a high-level ministerial panel focusing on national strategies and policies to accelerate green hydrogen economies. Ministers taking part in the panel include: H.E. Parviz Shahbazov, Minister of Energy, Azerbaijan; H.E. Yoshida Nobuhiro, Parliamentary Vice-Minister of Economy, Trade and Industry, Japan; and Frederik Wisselink, Energy Special Envoy, Ministry of Economic Affairs and Climate Policy, Netherlands.

Abu Dhabi’s Low Carbon Hydrogen Policy, and its impact on crucial industries, will be the subject of another panel. Speakers in this session will include H.E. Ahmed Mohammed Al Rumaithi, Undersecretary, Abu Dhabi Department of Energy and Mohammad Abdelqader El-Ramahi, Chief Green Hydrogen Officer, Masdar, alongside other high-level Abu Dhabi stakeholders.

The Green Hydrogen Summit will bring together the public and private sector, from policymakers and industry leaders to forward-thinking investors and pioneering entrepreneurs. A conversation on ‘Financing the Transition’ will focus on factors needed to make green hydrogen projects bankable, and will feature Lina Osman, Managing Director & Head - Sustainable Finance, Standard Chartered Bank and Dr. Michael Whiteley, Global Head Clean Hydrogen, HSBC, amongst other global finance leaders.

There will also be a pan-regional focus looking at the development of green hydrogen economies in Asia, the US and Europe. Speakers include Daria Nochevnik, Director for Policy and Partnerships, Hydrogen Council; Joaquin Rodriguez Jadraque, Director of Hydrogen and Clean Energies, Cepsa; and Alicia Eastman, Host of Everything About Hydrogen and Board Member, InterContinental Energy.

Other panels will spotlight hard-to-abate industries including aviation, shipping and heavy industry, with a key conversation on decarbonizing the steel sector featuring industry leaders such as Micheal Rion, Chief Commercial Officer, Emirates Steel Arkan.

The full program for the Green Hydrogen Summit can be downloaded here.

The Summit will take place April 16, 2024, during the World Future Energy Summit, in Hall A at ADNEC in Abu Dhabi. It will also be available to watch on livestream here.

An accompanying video related to the announcement is also available here.

• International experts, leaders from industry and government to discuss accelerating green hydrogen economy worldwide

• Summit to explore latest industry trends and the most impactful pathways and innovations to scale green hydrogen

• High-level Abu Dhabi energy stakeholders to discuss the Emirate’s path to low-carbon goals

Abu Dhabi Future Energy Company PJSC – Masdar will host the second annual Green Hydrogen Summit on April 16, 2024, as part of the World Future Energy Summit, to accelerate the development of the global green hydrogen economy and support the energy transition.

As major economies look to decarbonize their end-use sectors, participants will discuss industries representing the largest demand segments for green hydrogen and take an in-depth look at economies and regions leading the emerging green hydrogen market. Conversations during the Green Hydrogen Summit will explore how governments are enabling progress in investment and developing policy frameworks to scale up and facilitate their hydrogen economies and the global trade of green hydrogen.

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said:

Masdar’s green hydrogen business aims to be a leading global producer by 2030, supporting Abu Dhabi’s Low-Carbon Hydrogen Policy announced during COP28, following a trilateral strategic collaboration between Abu Dhabi Department of Energy, ADIO and Masdar to position the UAE as a global hydrogen leader.

Masdar is at the vanguard of making this vision a reality, developing power-to-X projects, both in the UAE and globally, that turn water and electricity into carbon-neutral synthetic fuels. Major announcements in the last 12 months demonstrate Masdar’s commitment to realizing large-scale green projects for hydrogen and its derivatives.

Masdar will explore the production of e-methane in Abu Dhabi with Japanese energy companies INPEX, Tokyo Gas and Osaka Gas, and has partnered with OMV on a project to produce green hydrogen for decarbonizing industrial processes. An agreement between Masdar and France’s Hy24 will provide access to a pipeline of up to €2 billion in green hydrogen co-investment and co-development opportunities, while Masdar’s partnership with Emirates Steel Arkan is set to develop an innovative green hydrogen project to decarbonize the UAE’s steel sector. Masdar and TotalEnergies also conducted the first test flight to demonstrate the potential for converting methanol to sustainable aviation fuel. And, Masdar has joined the Hydrogen Council to help advance hydrogen’s role in reaching global decarbonization goals.

With green hydrogen poised to play a pivotal role in shaping the future of energy sustainability, the Green Hydrogen Summit agenda will delve into crucial aspects such as regulatory frameworks, innovation and sustainable finance to chart a course toward a sustainable energy landscape.

The Green Hydrogen Summit will take place April 16, 2024 during the World Future Energy Summit, Hall A at ADNEC in Abu Dhabi.

It will also be available to watch on livestream here.

• Masdar will host WFES with packed program of events focused on the Action Agenda and historic UAE Consensus agreed at COP28

• Annual Green Hydrogen Summit will focus on potential to help economies reach net-zero emissions

• Innovation Zone will feature expert panels, showcase latest technology and climate solutions

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, is gearing up to host the World Future Energy Summit. Taking place from April 16-18 at Abu Dhabi National Exhibition Centre (ADNEC), World Future Energy Summit is the world’s leading business event for future energy, clean technology and sustainability, with a packed program of events, activations, discussions and forums.

The Masdar Pavilion at World Future Energy Summit will act as a hub for innovation, collaboration and knowledge sharing, with its theater featuring an engaging program of panels and presentations, including forums by Masdar’s global strategic initiatives, Y4S (Youth 4 Sustainability) and WiSER (Women in Sustainability, Environment and Renewable Energy).

The Innovation Zone, hosted by Masdar, will feature a series of industry panels with innovators and experts, focusing on the latest climate solutions. It will include technology showcases from ADSW partners, international startups and SMEs across urban mobility, clean energy, agritech, and artificial intelligence, and will officially launch the SME Day at World Future Energy Summit on April 18 to continue the legacy of the COP28 SME Climate Hub initiative.

HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and President of COP28, said:

Masdar will also host the annual Green Hydrogen Summit on April 16, which aims to accelerate the development of the global green hydrogen economy to support the energy transition. Highlighting green hydrogen’s growing potential to support economies in reaching net-zero emissions, the Green Hydrogen Summit will bring together policymakers, industry leaders, forward-thinking investors and pioneering entrepreneurs.

Mohamed Jameel Al Ramahi, Masdar’s Chief Executive Officer, said:

World Future Energy Summit takes place from April 16-18, 2024, at the Abu Dhabi National Exhibition Centre and the Masdar Pavilion can be found in Hall 5.

Masdar is aiming for a renewable energy portfolio capacity of 100GW by 2030, supporting the target set in The UAE Consensus to triple global renewables capacity by the end of this decade, and aims to be a leading producer of green hydrogen by the same year.

Register now and join Masdar at World Future Energy Summit 2024 Explore our program

• Masdar and CMA CGM launch long-term partnership for green alternative fuel supply

• By 2028, CMA CGM will have 119 ships in fleet able to run on green alternative fuels

• Deal with the UAE's Masdar strengthens CMA CGM's network to serve customers worldwide

Abu Dhabi Future Energy Company PJSC - Masdar, one of the world’s leading renewable energy companies, and CMA CGM Group, a global player in sea, land, air and logistics solutions, have signed a Strategic Supply Partnership (SSP) which will explore the two companies entering long-term green maritime fuels offtake contracts to supply CMA CGM vessels.

Strengthened partnership to decarbonize shipping through clean energies

The aim of the Partnership is to source, supply and deliver green alternative fuels for CMA CGM’s dual-fuel vessels, starting in 2025 and following the incremental phase-in of the vessels until 2028.

Masdar and CMA CGM will also continue to discuss extending their collaboration opportunities, potentially on green hydrogen and ammonia production.

Mohammad Abdelqader El Ramahi, Masdar Chief Green Hydrogen Officer, said:

says Christine Cabau Woehrel, CMA CGM Group Executive Vice President in charge of Assets and Operations.

Shared ambitions for more sustainable transport and logistics

Committed to reach Net Zero carbon by 2050, the CMA CGM Group has set new ambitions for its shipping activities: aim for the highest levels of the IMO GHG reduction objectives, i.e. 30% total emission reduction by 2030, compared to 2008, and 80% emission reduction by 2040. To reach that ambition, CMA CGM accelerates its energy transition, notably through integrating low carbon fuels in its energy mix.

By capitalizing on Masdar’s expertise and global footprint, the cooperation will facilitate the deployment of CMA CGM's new generation of dual-fuel ships ready to use biofuels and e-fuels based on methane and methanol, of which 35 are currently in fleet and 84 in order. Masdar aims to produce 1 million tons of green hydrogen by 2030, backed with the strong long-term commitment of the company’s shareholders, ADNOC, TAQA and Mubadala.

CMA CGM, a key global player in the Middle East

The CMA CGM Group maintains a strategic presence in the United Arab Emirates. Thanks to its privileged position in the shipping sector, CMA CGM plays an essential role in the region's connectivity and commercial development.

With a regional office in Dubai, covering more than 40 countries and several key ports in the region, CMA CGM’s local presence enables the Group to meet the specific needs of its customers, support international trade and actively contribute to the region's economic growth by offering innovative solutions adapted to today's logistics challenges.

• Daimler Truck and Masdar sign MoU to assess liquid green hydrogen exports from Abu Dhabi (UAE) to Europe.

• Initiative has significant potential to enable the reduction of CO₂-emissions in road freight transport in Europe.

• Agreement supports UAE’s ambition to become a leading producer and supplier in the low-carbon hydrogen market by 2031, and European Green Deal emission reduction targets.

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, and Daimler Truck Holding AG (“Daimler Truck”), one of the world’s leading commercial vehicle manufacturers, have signed a Memorandum of Understanding (MoU) to explore the feasibility of liquid green hydrogen exports from Abu Dhabi (UAE) to Europe by 2030.

The MoU was signed in Abu Dhabi by Fawaz Al Muharrami, Executive Director of Clean Energy and Deputy COO at Masdar and Martin Daum, Chairman of the Board of Management and CEO of Daimler Truck.  The collaboration between the two pioneering companies with complementary roles represents a significant advancement in ongoing efforts to tackle CO₂-emissions in road freight transport.

Mohamed Jameel Al Ramahi, Masdar CEO said:

Martin Daum, Chairman of the Board of Management and CEO of Daimler Truck:

The UAE’s plans to establish itself as a leading and reliable producer and supplier of low carbon hydrogen by 2031.

As the UAE’s clean energy powerhouse and one of the fastest growing renewable companies in the world, Masdar is at the vanguard of advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges.

Established in 2006, Masdar has developed projects in more than 40 countries with a total electricity generation capacity of more than 20GW (Gigawatt). It has invested, or committed to invest, in worldwide projects with a combined value of more than US$30 billion with ambitious growth plans to reach 100GW by 2030.

Daimler Truck is clearly committed to the Paris Climate Agreement and to lead sustainable transportation. The company is planning to make its entire range of trucks and buses CO₂-neutral in driving operation across its global core markets (Europe, U.S., Japan) by 2039.

To decarbonize transportation, Daimler Truck is pursuing a dual-track strategy with hydrogen- and battery-powered vehicles. In a demonstration of the feasibility of using liquid hydrogen in road transportation, the company’s prototype Mercedes-Benz GenH2 Truck recently completed a trip of 1,047 kilometers across Germany with one fill of liquid hydrogen under real-life conditions. Daimler Truck is building a customer-trial fleet of Mercedes-Benz GenH2 Trucks which are expected to be deployed in mid-2024.

Abu Dhabi Future Energy Company PJSC – Masdar (Masdar), INPEX CORPORATION (INPEX), Tokyo Gas Co., Ltd. (Tokyo Gas) and Osaka Gas Co., Ltd. (Osaka Gas) announced they have signed a collaboration agreement to conduct a joint feasibility study on e-methane¹ production in Abu Dhabi in the United Arab Emirates (UAE).

Masdar and INPEX have been conducting a joint study to produce e-methane utilizing low-cost renewable energy in Abu Dhabi based on an agreement signed on July 17, 2023.

Tokyo Gas and Osaka Gas have newly joined this initiative, and through it plan to off-take e-methane in volumes equivalent to 1% of each company’s annual city gas demand. Tokyo Gas and Osaka Gas are aiming to introduce e-methane to cover 1% of their respective annual city gas demand by 2030 and further increase the introduction volume from the total of their worldwide projects toward 2050.  

The four partners will evaluate the economics of producing and procuring feedstocks, such as green hydrogen and CO₂, as well as the production and transportation of e-methane. The overall reductions in CO2 emissions will also be evaluated.

“e-methane” is compatible with existing LNG infrastructure such as LNG tankers and terminals as well as city gas infrastructure including pipelines and consumer gas equipment, limiting social costs associated with its introduction. “e-methane” is therefore considered a pragmatic carbon-neutral or lower-carbon solution for thermal sectors where electrification is a challenge. Applications are also expected in the power generation and transportation sectors.

Masdar, INPEX, Tokyo Gas and Osaka Gas aim for the early establishment of an e-methane supply chain from the UAE to Japan to contribute to the UAE and Japanese governments’ shared goal of achieving carbon neutrality by 2050.

About Masdar

Abu Dhabi Future Energy Company (Masdar) is the UAE’s clean energy champion and one of the largest companies of its kind in the world, advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges. Established in 2006, Masdar is today active in over 40 countries, helping them to achieve their clean energy objectives and advance sustainable development. Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala), and Abu Dhabi National Energy Company (TAQA), and under this ownership the company is targeting a renewable energy portfolio capacity of at least 100 gigawatts (GW) by 2030 and an annual green hydrogen production capacity of up to 1 million tonnes by the same year. For more information please visit: http://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar

About INPEX

INPEX CORPORATION is Japan’s largest exploration and production (E&P) company and is currently involved in projects across multiple continents, including the Ichthys LNG Project in Australia as Operator. By thoroughly making its oil and gas business cleaner while expanding its 5 net zero business areas, INPEX aims to provide a stable supply of diverse and clean energy sources including oil, natural gas, hydrogen, and renewables as a pioneer in energy transformation. For more information, please visit: https://www.inpex.co.jp/english/index.html

About Tokyo Gas

Tokyo Gas Co., Ltd. is the largest city gas supplier in Japan and a Japanese integrated energy company with diverse businesses spanning electricity generation, energy retailing, engineering solutions, upstream LNG, and real estate development. As part of our group’s management vision “Compass 2030,” we have been taking action to realize a decarbonized society by tackling the challenge of achieving “Net-Zero CO2.” As an infrastructure provider for the Tokyo metropolitan area, we support our customers’ decarbonization efforts by promoting the sophisticated use of LNG. At the same time, we focus on renewable energy power plant development, CCUS utilization, hydrogen production technology development, and commercialization of e-methane and other hydrogen carriers. In order to establish supply chains for e-methane, we are currently carrying out feasibility studies in North America, Malaysia, Australia, and other regions with trading companies and global energy companies. Tokyo Gas will lead the transition to a decarbonized society by achieving both stable energy supply and decarbonization.

About Osaka Gas

Osaka Gas aims to achieve carbon neutrality across its corporate group (Daigas Group) by 2050 as a goal set in the Carbon Neutral Vision released in January 2021 and Energy Transition 2030 released in March 2023. To realize this ambition, the company pursues net zero solutions, including e-methane, synthetic methane suitable for seamless and low-cost transition due to its compatibility with the existing gas infrastructure and equipment. While proceeding with R&D on e-methane technologies, Osaka Gas drives several e-methane projects, conducting feasibility studies to produce e-methane in strategic locations, such as North America, South America, Australia, the Middle East, the Southeast Asia, and Japan.

• Strategic Framework Agreement will position Masdar as potential investor and developer for co-investment opportunities alongside Hy24’s Clean Hydrogen Infrastructure Fund to enable large-scale green hydrogen production projects across Europe, the Americas, Asia Pacific and the Middle East and North Africa

• The agreement advances ambitious growth plans of UAE’s clean energy powerhouse, giving Masdar access to a pipeline of up to €2 billion in co-investment and co-development opportunities. Masdar, is targeting 1 million tons of green hydrogen production by 2030

• The agreement will broaden Hy24’s investment base and role as a springboard for hydrogen projects at scale

Abu Dhabi Future Energy Company PJSC - Masdar, one of the world’s leading renewable energy companies, and Hy24, the world’s largest clean hydrogen pure-play investor, signed a strategic joint development and investment framework agreement to foster large-scale green hydrogen projects during the UN’s Climate Change Conference, COP28, in Dubai.

Masdar and Hy24 agreed a framework to explore the development and investment in projects along the Power-to-X value chain, which involves producing renewable power converted via electrolyzers into green hydrogen and, subsequently, its derivatives such as green ammonia, e-methanol, sustainable aviation fuel and liquid hydrogen. The companies will focus on projects located in key regional hubs across Europe, the Americas, Asia Pacific and the Middle East and North Africa (MENA).

The Hy24-managed “Clean Hydrogen Infrastructure Fund” expects that co-investment and co-development opportunities will be made available to Masdar, which could represent up to €2 billion of investments in the next five years. Green hydrogen will play a key role in enabling faster and more widespread global adoption of renewable energy, helping the planet to meet net-zero goals.

The agreement reinforces Hy24's role as a catalyst in fostering the hydrogen economy and will leverage Masdar’s 20GW of renewable energy projects worldwide, enabling the two leaders to target exploration of larger transactions and project developments across broader geographies at scale and pace. The agreement will also open new investment opportunities for Hy24 in the Middle East and North Africa and benefit from Ardian’s long-standing partnerships established in the region under the leadership of François-Aïssa Touazi (Chairman Ardian Ltd, Abu Dhabi). Hy24 is a joint venture between Ardian, Europe’s largest private investment house, and FiveT Hydrogen, a clean hydrogen investment platform.

Mohamed Jameel Al Ramahi, CEO of Masdar, said:

Pierre-Etienne Franc, Co-founder and CEO of Hy24, said:

Established in 2006, Masdar has developed projects in over 40 countries, helping them to achieve their clean energy objectives and advance sustainable development. It has invested, or committed to invest, in worldwide projects with a combined value of more than US$30 billion with ambitious growth plans to reach 100GW and 1 million tons of green hydrogen by 2030.

Hy24 is committed to catalyzing the growth of a global hydrogen ecosystem by investing across the entire clean hydrogen value chain. Hy24’s first fund – the Clean Hydrogen Infrastructure Fund, or “Infra Fund” – is targeted at building out the hydrogen infrastructure market. The Infra Fund has raised 2 billion euros and already made seven investments. It has brought together more than fifty leading industrial and financial investors from Europe, Asia, and North America with the aim of mobilizing up to 20 billion euros of investment within the next five years. In May 2023, Hy24 co-organized with Ardian the first hydrogen business conference in MENA, in partnership with Abu Dhabi Global Market.

AD Ports Group (ADX: ADPORTS), a leading facilitator of global trade, logistics, and industry, and Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, have announced the signing of a Memorandum of Understanding (MoU) on the sidelines of the UN Climate Change Conference, COP28, in Dubai.

Under the terms of the MoU, AD Ports Group and Masdar will jointly explore the development of a green hydrogen production hub within the Khalifa Economic Zones Abu Dhabi (KEZAD) that will serve both domestic and export markets, part of the UAE’s National Hydrogen Strategy that aims to scale up local hydrogen production to 1.4 million tons per annum by 2031, and 15 million tons per annum by 2050.  In support of this strategy, Masdar is targeting an annual global green hydrogen production capacity of up to 1 million tons by 2030 and has signed and executed several global collaboration agreements to meet this goal.

Hydrogen could help to reduce global emissions by more than 20 percent by 2050 with demand rapidly increasing in recent years.

This hydrogen production hub could include export terminals of green products to overseas ports, which would attract more investments into the green hydrogen value chain in Abu Dhabi, as well as offer current and future KEZAD and Khalifa Port tenants the opportunity to develop green industries. 

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said:

Mohamed Jameel Al Ramahi CEO of Masdar, said: