OMV AG and Masdar have entered into a collaboration to work on renewable power-generated hydrogen and derivatives, with a focus on producing synthetic aviation fuel, synthetic chemicals, and other fuels in various locations. Masdar aims to reach a production of 1 million metric tons of renewable hydrogen by 2030. OMV, with support from the Austrian government, is striving for net-zero emissions by 2050, fueled by green electrolytic hydrogen. The companies seek to drive innovation and sustainability in Austria and the UAE with a keen emphasis on decarbonization. OMV recently announced the commencement of operations at its green hydrogen facility in Austria, which uses renewable energy sources to power a 10-megawatt PEM electrolyzer. The produced hydrogen will aid in decarbonizing the refinery and manufacturing more sustainable fuels and chemicals. This initiative, supported by a EUR 25 million investment and government backing, aligns with the Renewable Energy Directive (EU) 2018/2001. Despite a decrease in net profit and income, OMV reported stable sales revenue in Q1 2025, highlighting the company's resilience within challenging market conditions. OMV's focus on green hydrogen production and sustainability reflects its commitment to advancing climate goals and industrial progress in Europe, setting a benchmark for cleaner energy solutions.