Saudi’s NEOM eyes global green hydrogen market with $5bln JV – ZAWYA

Saudi’s NEOM eyes global green hydrogen market with $5bln JV – ZAWYA

Saudi's NEOM eyes global green hydrogen market with $5bln JV | ZAWYA MENA Edition HomeBusinessEnergyArticleSaudi's NEOM eyes global green hydrogen market with $5bln JV Air Products would be the exclusive off-taker of the green ammonia produced at the facility    Image used for illustrative purpose. Tall metal towers at a British oil refinery and petrochemical plant. Saudi companies NEOM and ACWA Power have signed an agreement with US-based industrial gases company, Air Products, to set up a $5 billion green hydrogen-based ammonia production facility powered by renewable energy in the kingdom.The equally owned joint venture would be located within the NEOM master development in north-west Saudi Arabia, and produce green ammonia for export to global markets, Air Products said in a press statement.Saudi's NEOM aims to develop a $500 billion economic zone and will be owned by the government's Public Investment Fund.The equally owned joint venture would be located within the NEOM master development in north-west Saudi Arabia, and produce green ammonia for export to global markets, Air Products said in a press statement.Saudi companies NEOM and ACWA Power have signed an agreement with US-based industrial gases company, Air Products, to set up a $5 billion green hydrogen-based ammonia production