The government of Abu Dhabi will partner with HYCAP Group to develop an industrial complex in the emirate, including a renewable energy capacity, an electrolysis plant, a hydrogen storage facility, and hydrogen tankers for transportation.
A memorandum of understanding was signed between the Abu Dhabi Department of Economic Development and HYCAP Middle East, the two parties said on Tuesday.
Under the terms, two organisations will evaluate establishing a complex focusing on hydrogen-related industries and renewable energy with the goal of attracting and establishing more industrial companies and strengthening value chains in the sector.
HYCAP, which opened a regional headquarters in Abu Dhabi at the end of 2023, aims to build a network of industries in the emirate centred around the hydrogen and clean energy sector. This involves setting up facilities for clean hydrogen production, methanol production, hydrogen storage and transportation, electrolyser manufacturing, electric charging manufacturing, and fuel cell manufacturing.
The objective is to balance local hydrogen supply and demand, with the potential to expand for export sales growth.
Furthermore, HYCAP is proactively inviting international industrial companies specialising in this sector to join their industrial complex in Abu Dhabi.
The initiative will support the UAE's hydrogen ambitions. The National Hydrogen Strategy aims to position the country as one of the top ten hydrogen producers by 2031, targeting an annual output of 1.4 million tonnes. (February 6, 2024)
UNITED ARAB EMIRATES - GREENH2 - Production