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NEOM signs a $ 5 billion partnership with "Air Products" and "Aqua Power" to build a NEOM renewable energy facility to produce and export hydrogen to the global market
The largest project of its kind in the world will produce 650 tons of carbon-free hydrogen per day to support the transportation sector globally, and the project will contribute to reducing carbon dioxide emissions by an average of three million tons annually.
Tuesday, July 7, 2020
Lehigh Valley, Pennsylvania (July 7, 2020)
NEOM has started its first steps to become a key player in the global hydrogen market by entering into a partnership with Air Products and Aqua Power worth $ 5 billion to build an environmentally friendly hydrogen production facility in NEOM to provide solutions Sustainable for the global transport sector and to address climate change challenges through practical solutions to reduce carbon emissions.
This partnership is the first investment by NEOM in the field of renewable energy, which is one of the main axes of NEOM to become a leader in the global hydrogen market, and what distinguishes this investment is also the presence of an international partner represented by American Air Products, and a national partner, the Aqua Power Group.
The project, which will be owned equally by the three partners, will be based in NEOM in the Kingdom of Saudi Arabia, and by 2025 it will be ready to produce hydrogen and then export it to global markets to be used as biofuels that feed the transportation and transportation systems, and will also produce about 650 tons of green hydrogen Daily and 1.2 million tons of green ammonia annually, thereby contributing to reducing carbon dioxide emissions by the equivalent of three million tons annually.
The joint venture will be based on proven world-class technology, and will integrate the generation of more than four gigawatts of renewable energy from solar energy, wind energy, storage, as well as hydrogen production through electrolysis using "thyssenkrupp" technology and nitrogen production by separating air using Air Products' technology proven in this field and green ammonia production using Haldor Topsoe technology.
It is noteworthy that "Air Products" will play the exclusive role of green ammonia to be transported all over the world to extract green hydrogen, which will supply the transportation sector with the needed environmentally friendly biofuels. The hydrogen is transported to the market through ammonia, it is processed by importers, the hydrogen is separated from it and used immediately thereafter.
"We are proud of our partnership with Aqua Power and NEOM, as this partnership will focus on using proven technologies to transform the dream of the world into 100 percent green energy into reality," said Saifi Qasemi, Chairman of Air Products. NEOM enjoys solar and wind energy. It will enable us to convert water into hydrogen. This project will work as a widely applied clean energy source to reduce global carbon dioxide emissions at a rate of more than three million tons annually, and eliminate smog emissions and pollutants equivalent to what produces 700,000 cars. "
For his part, Mohamed Abu Nayan, Chairman of Aqua Power, said: “Building on our firm belief in Vision 2030 and our continuous endeavor to contribute to the realization of the aspirations of His Highness, Crown Prince Mohammed bin Salman, that NEOM will become a world leader in sustainable living, Aqua Power is proud today.
By participating in this pioneering investment project, which is the first of its kind in the world, Aqua Power has extensive experience in utilizing the leading technologies to generate carbonless renewable energy at the lowest costs.
We are also confident that we have cooperated with a leading company in this field such as Air Products will open the door to many promising opportunities in the field of green hydrogen production and will enhance our ability to work with countries of the world to achieve their goals in the field of clean energy production, with the social and economic benefits for the whole world. To employ the latest experiences and advanced technologies in the field of utilizing solar and wind energy to produce green energy that is sustainable and available globally. "
On his part, Engineer Nazmi Al-Nasr, CEO of NEOM, said: “This partnership reflects our deep commitment to developing a carbon-free society, which is a symbol of exceptional and sustainable living, a vision that His Royal Highness Prince Mohammed bin Salman aspires to through this giant project. The partnership is also a testament to the belief of investors from inside and outside the Kingdom in seeing the NEOM project and its strategic goals that will contribute to achieving the ambitions of the NEOM Board of Directors and its Chairman His Royal Highness Prince Mohammed bin Salman to chart a new prosperous and sustainable future for human societies.
The renewable hydrogen project, the largest of its kind in the world, whose importance lies in its consistency with the efforts of NEOM to achieve leadership in the production of green hydrogen and green fuel globally. This achievement is a focal point in NEOM’s journey to become the most important destination internationally in providing sustainable solutions in a way that attracts investors and the best minds of The whole world to accelerate human development, and this partnership we are proud of will be a key component in supporting the clean energy economy strategy free from corruption. Bonn in the Kingdom, which is one of the most important pillars of the 2030 vision.
We are delighted that two companies with an international presence in many countries and continents such as Air Products and Aqua Power have joined us in developing this project that will change many concepts about the uses of renewable energy in the region, And that will be followed by many similar huge projects that contribute to charting the new future in Neom. "
https://newsroom.neom.com/nywm-twq-...t-lantaj-wtsdyr-alhydrwjyn-aly-alswq-alalmyt
The largest project of its kind in the world will produce 650 tons of carbon-free hydrogen per day to support the transportation sector globally, and the project will contribute to reducing carbon dioxide emissions by an average of three million tons annually.
Tuesday, July 7, 2020
Lehigh Valley, Pennsylvania (July 7, 2020)
NEOM has started its first steps to become a key player in the global hydrogen market by entering into a partnership with Air Products and Aqua Power worth $ 5 billion to build an environmentally friendly hydrogen production facility in NEOM to provide solutions Sustainable for the global transport sector and to address climate change challenges through practical solutions to reduce carbon emissions.
This partnership is the first investment by NEOM in the field of renewable energy, which is one of the main axes of NEOM to become a leader in the global hydrogen market, and what distinguishes this investment is also the presence of an international partner represented by American Air Products, and a national partner, the Aqua Power Group.
The project, which will be owned equally by the three partners, will be based in NEOM in the Kingdom of Saudi Arabia, and by 2025 it will be ready to produce hydrogen and then export it to global markets to be used as biofuels that feed the transportation and transportation systems, and will also produce about 650 tons of green hydrogen Daily and 1.2 million tons of green ammonia annually, thereby contributing to reducing carbon dioxide emissions by the equivalent of three million tons annually.
The joint venture will be based on proven world-class technology, and will integrate the generation of more than four gigawatts of renewable energy from solar energy, wind energy, storage, as well as hydrogen production through electrolysis using "thyssenkrupp" technology and nitrogen production by separating air using Air Products' technology proven in this field and green ammonia production using Haldor Topsoe technology.
It is noteworthy that "Air Products" will play the exclusive role of green ammonia to be transported all over the world to extract green hydrogen, which will supply the transportation sector with the needed environmentally friendly biofuels. The hydrogen is transported to the market through ammonia, it is processed by importers, the hydrogen is separated from it and used immediately thereafter.
"We are proud of our partnership with Aqua Power and NEOM, as this partnership will focus on using proven technologies to transform the dream of the world into 100 percent green energy into reality," said Saifi Qasemi, Chairman of Air Products. NEOM enjoys solar and wind energy. It will enable us to convert water into hydrogen. This project will work as a widely applied clean energy source to reduce global carbon dioxide emissions at a rate of more than three million tons annually, and eliminate smog emissions and pollutants equivalent to what produces 700,000 cars. "
For his part, Mohamed Abu Nayan, Chairman of Aqua Power, said: “Building on our firm belief in Vision 2030 and our continuous endeavor to contribute to the realization of the aspirations of His Highness, Crown Prince Mohammed bin Salman, that NEOM will become a world leader in sustainable living, Aqua Power is proud today.
By participating in this pioneering investment project, which is the first of its kind in the world, Aqua Power has extensive experience in utilizing the leading technologies to generate carbonless renewable energy at the lowest costs.
We are also confident that we have cooperated with a leading company in this field such as Air Products will open the door to many promising opportunities in the field of green hydrogen production and will enhance our ability to work with countries of the world to achieve their goals in the field of clean energy production, with the social and economic benefits for the whole world. To employ the latest experiences and advanced technologies in the field of utilizing solar and wind energy to produce green energy that is sustainable and available globally. "
On his part, Engineer Nazmi Al-Nasr, CEO of NEOM, said: “This partnership reflects our deep commitment to developing a carbon-free society, which is a symbol of exceptional and sustainable living, a vision that His Royal Highness Prince Mohammed bin Salman aspires to through this giant project. The partnership is also a testament to the belief of investors from inside and outside the Kingdom in seeing the NEOM project and its strategic goals that will contribute to achieving the ambitions of the NEOM Board of Directors and its Chairman His Royal Highness Prince Mohammed bin Salman to chart a new prosperous and sustainable future for human societies.
The renewable hydrogen project, the largest of its kind in the world, whose importance lies in its consistency with the efforts of NEOM to achieve leadership in the production of green hydrogen and green fuel globally. This achievement is a focal point in NEOM’s journey to become the most important destination internationally in providing sustainable solutions in a way that attracts investors and the best minds of The whole world to accelerate human development, and this partnership we are proud of will be a key component in supporting the clean energy economy strategy free from corruption. Bonn in the Kingdom, which is one of the most important pillars of the 2030 vision.
We are delighted that two companies with an international presence in many countries and continents such as Air Products and Aqua Power have joined us in developing this project that will change many concepts about the uses of renewable energy in the region, And that will be followed by many similar huge projects that contribute to charting the new future in Neom. "
https://newsroom.neom.com/nywm-twq-...t-lantaj-wtsdyr-alhydrwjyn-aly-alswq-alalmyt
