Mubadala Investment Company, the Abu Dhabi National Oil Company (ADNOC) and ADQ announced recently the signing of a Memorandum of Understanding (MOU) to establish the Abu Dhabi Hydrogen Alliance. 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. (Photo quoted from Mubadala's official website)
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 global markets, for projects developed under the Alliance, with the aim of positioning 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 H.E. Khaldoon Khalifa Al Mubarak, Managing Director and Group Chief Executive Officer of Mubadala Investment Company, H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Group CEO, and H.E. Mohamed Hassan Alsuwaidi, Chief Executive Officer of ADQ.
Commenting on the importance of the Alliance, H.E. Khaldoon Khalifa Al Mubarak said “As a responsible investor, we are actively engaged in a number of new energy investments that will contribute to more efficient and lower emission energy solutions. Hydrogen offers significant potential in this regard and with the renewables expertise and experience of Masdar, we are well placed to develop leadership in the green hydrogen value chain. Our engagement with ADNOC and ADQ is an important step in the establishment of the UAE’s hydrogen economy, and to align on technology, investment, the development of the domestic market and our approach to international partners and off takers.”
(IRuniverse)
