Net zero asset manager HYCAP Group expands to UAE

Net zero asset manager HYCAP Group expands to UAE

ABU DHABI: HYCAP Group, the UK-based net zero asset management company with clean hydrogen at its core, has opened an office in Abu Dhabi Global Market (ADGM) to support its strategic expansion to the region. At a private event during Abu Dhabi Finance Week, HYCAP Group also revealed plans for a UAE-based GCC Fund that will invest in companies serving the net zero energy transition and clean hydrogen supply chain. 

As GCC governments race to decarbonize their economies, clean hydrogen is emerging as a central pillar in their climate mitigation efforts. Recognising the essential role that green hydrogen, sourced from renewable energy, can play in attaining net zero goals, HYCAP Group is committed to accelerating the adoption of the carbon-free fuel in high-emitting sectors.

Both the UAE and Saudi Arabia are laying robust foundations for leading the global hydrogen market. The UAE’s National Hydrogen Strategy aims to make it a top 10 producer of green hydrogen by 2031 with an output target of 1.4 million tonnes per year. Similarly, Saudi Arabia's National Hydrogen Strategy is targeting over $36 billion in investments by 2030, and includes the construction of the world's largest green hydrogen plant in NEOM.

HYCAP Group's entry into