Joint Venture for Green Hydrogen and eSAF Production
Key Ideas
  • Masdar and OMV have signed an agreement to collaborate in producing green hydrogen, synthetic sustainable aviation fuel, and other sustainable products.
  • The partnership aims to explore opportunities in Austria, the UAE, and Central and Northern Europe for developing and producing synthetic sustainable aviation fuel, fuels, and chemicals.
  • Masdar plans to be a leading global producer of green hydrogen and derivatives by 2030, while OMV targets becoming net zero by 2050, and has already initiated Austria's largest green hydrogen plant.
  • The collaboration between Masdar and OMV is seen as a bold step towards reshaping industries, accelerating decarbonization, and driving innovation for sustainable solutions.
Abu Dhabi Future Energy Company PJSC – Masdar and OMV AG from Vienna, Austria, have entered into a partnership to produce green hydrogen, synthetic sustainable aviation fuel (eSAF), and other sustainable products. The non-binding Letter of Intent (LOI) signed in Vienna by representatives of Masdar and OMV aims to explore opportunities in various regions, focusing on synthetic sustainable aviation fuel, other synthetic fuels, and chemicals. The agreement, signed in the presence of notable figures such as the UAE Minister of Industry and Advanced Technology and the Austria Federal Minister of Economy, Energy, and Tourism, signifies a commitment to developing and producing sustainable energy solutions. Masdar's Chief Green Hydrogen Officer highlighted the importance of the collaboration in driving energy system transformation and energy security through green hydrogen production. OMV's Executive Vice President also expressed enthusiasm for the partnership, emphasizing the shared vision for cleaner energy and collaborative innovation in green hydrogen and sustainable synthetic fuels. Masdar aims to become a global leader in green hydrogen production by 2030, while OMV is working towards achieving net zero emissions by 2050. The recent initiation of Austria's largest green hydrogen plant by OMV demonstrates progress towards sustainable energy initiatives. The joint venture between Masdar and OMV is anticipated to drive industry transformation, accelerate decarbonization efforts, and set new benchmarks for sustainable solutions, reflecting a positive outlook on the future of energy and environmental sustainability.
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