New Abu Dhabi entity to accelerate UAE hydrogen economy drive

New Abu Dhabi entity to accelerate UAE hydrogen economy drive

Abu Dhabi's drive to build a substantial green hydrogen economy in the UAE received a major fillip with Mubadala Investment Company, the Abu Dhabi National Oil Company and ADQ announcing on Sunday the signing of a Memorandum of Understanding 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.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.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, MD and group CEO of Mubadala Investment Company, and Mohamed Hassan Alsuwaidi, chief executive officer of ADQ, during a virtual ceremony.“The Alliance integrates our complementary strengths as industrial, energy and financial leaders to address the global challenge of meeting energy demand, while reducing emissions,” said Al Jaber.“In addition, this alliance will build on Abu Dhabi and the UAE's global energy leadership and position as the centre of