NEOM announced the signing of a partnership agreement with “Air Products” and “Aqua Power” for a value of $ 5 billion to build a facility in the NEOM region to produce hydrogen in an environmentally friendly way -green hydrogen project- and export it to the global market, in order to provide sustainable solutions for the global transport sector and to meet the challenges of change Climate through practical solutions to reduce carbon emissions.
The CEO of NEOM Company, Engineer Nazmi Al-Nasr said: This partnership reflects our deep commitment to developing a carbon-free society, which is a symbol of exceptional and sustainable living, a vision that King Salman bin Abdulaziz Al Saud and Prince Mohammed bin Salman aspire to through this giant project.
He pointed out that this partnership is a testament to the belief of investors from inside and outside the Kingdom with the vision of the NEOM project and its strategic goals that will contribute to achieving the ambitions of the NEOM Board of Directors to chart a new, prosperous and sustainable future for human societies.
Al-Nasr added: The NEOM Board of Directors headed by Prince Mohammed bin Salman and the executive team of the company is pleased to announce the renewable hydrogen project, the largest in the world, and its importance lies in its consistency with the efforts of NEOM Company to achieve leadership in the production of green hydrogen and green fuel globally.
He added that the project will be a focal point in the NEOM mission to become the most important global destination in providing sustainable solutions in a way that attracts investors and the best minds from all over the world to accelerate human development.
Stressing that this partnership will be a key element in supporting the strategy of a clean carbon-free energy economy in the Kingdom, which is one of the most important pillars of Vision 2030, and it will be followed by many similar projects to contribute to charting the new future in NEOM.
For his part, Chairman of the Board of Directors of “Air Products” Saifi Qasimi said that the company is proud of this partnership, which will focus on using proven technologies to transform the dream of the world to reach 100% green energy into a tangible reality, indicating that the unique geographical features enjoyed by NEOM in terms of Solar and wind energy will enable the project to convert water into hydrogen as a widely applied clean energy source, thereby reducing global carbon dioxide emissions at a rate of more than 3 million tons annually.
Chairman of the Board of Directors, “Aqua Power”, Mohamed Abonian emphasized that the launch of this project comes in the belief in Vision 2030, and our continuous effort to contribute to achieving the aspirations of rational leadership to become a global leader in sustainable living.
Stressing at the company’s belief in its leading capabilities in contributing to building this “Pioneering investment project”, which is the first of its kind in the world, which will open the door to many promising opportunities in the field of green hydrogen production and will enhance the Kingdom’s ability to work with countries of the world to achieve its goals in the field of clean energy production, with the social and economic benefits For the whole world.
The joint investment will be based on proven, world-class technology, and will integrate the generation of more than four gigawatts of renewable energy from solar energy, wind energy and storage, as well as hydrogen production through electrolysis using “ThyssenKrupp” technology, and nitrogen production by separating Air using “Air Products” technology installed in this field, and producing green ammonia using HaldorTopsoe technology.
It is noteworthy that “Air Products” will play the exclusive role of green ammonia to be transported to all parts of the world to extract green hydrogen, which will supply the transportation sector with the environmentally friendly biofuels it needs. Hydrogen is transported to the markets through ammonia, and it is processed by importers and separated hydrogen. From them and use it immediately after that.
It is worth noting that the project – which will be equally owned by the three partners – will be based in NEOM, and by 2025 it will be ready to produce hydrogen and then export it to global markets to be used as biofuels that feed transportation and transportation systems and will produce about 650 tons of green hydrogen per day. , And 1.2 million tons of green ammonia annually, thereby contributing to reducing carbon dioxide emissions by the equivalent of three million tons annually.