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Abu Dhabi to boost green hydrogen supply chain: The Abu Dhabi Department of Economic Development (ADDED) and UK-based net zero asset management company Hycap Group will develop a green hydrogen-focused renewable energy industrial complex in Abu Dhabi, according to the Abu Dhabi Media Office. The department and Hycap will also enlist the work of local partners, the statement said, without clarifying the planned location, timeline, or investment value of the project.
What we know: Hycap Group will work with the Industrial Development Bureau (IDB), ADDED’s arm for developing and regulating the industrial sector, to produce, store, and transport green hydrogen with a newly constructed electrolysis plant, a hydrogen storage facility, and hydrogen tankers. It will also work to create a value chain for hydrogen by setting up clean hydrogen production, electrical charging manufacturing, fuel cell manufacturing, and bus and truck manufacturing facilities, the statement added.
Creating a value chain means starting with the domestic sector: The plan is to align supply and demand for hydrogen locally by attracting industrial companies to the industrial complex, before scaling up to export hydrogen abroad, the statement said.
Hycap aims to turn Abu Dhabi into a green hydrogen hub: The company set up its first international office in the Abu Dhabi Global Market back in November, and plans to launch a UAE-based GCC Fund to invest in companies with net zero strategies and green hydrogen supply chains, it said in a press release at the time.
The UAE has been making big moves in green hydrogen: The national hydrogen strategy, announced in June 2023, includes a hydrogen production goal of 1.4 mn tonnes by 2031, with renewables giant Masdar contributing 1 mn tonne, according to a press release. Masdar also inked an agreement last month with the world’s largest commercial vehicle manufacturer, Daimler Truck, to explore supplying liquid green hydrogen to power fuel cell rig trucks in Europe by 2030.
