OMV AG and Masdar have announced a collaboration to produce renewable power-generated hydrogen and derivatives. The partnership will involve the production of synthetic aviation fuel, synthetic chemicals, and other fuels in Austria, the United Arab Emirates, and northern and central Europe. Masdar aims to reach a production capacity of 1 million metric tons of renewable hydrogen by 2030, while OMV, partly owned by the Austrian government, is looking to achieve net-zero emissions by 2050 through the use of green electrolytic hydrogen. OMV recently inaugurated its first commercial-scale green hydrogen facility in Austria, with an annual capacity of 1,500 metric tons, powered by hydro, solar, and wind energy. This initiative is expected to help decarbonize the refinery and produce sustainable fuels and chemicals. The project received a EUR 25 million investment with support from the government's Climate and Energy Fund. In addition to the environmental benefits, the initiative is seen as a significant step towards reshaping industries, accelerating decarbonization efforts, and setting new standards for sustainable solutions. OMV's latest financial report for the first quarter of 2025 showed a decline in net profit but stable sales revenue. The company highlighted its operational profitability amidst challenging market conditions, with investments in green hydrogen production playing a vital role in its sustainable growth strategy.