HYCAP Group and the Abu Dhabi Department of Economic Development (ADDED) will establish a hydrogen-based industrial complex in in the Middle East.
Under a Memorandum of Understanding (MoU), the two companies will focus on the production, storage, and transport of green hydrogen, with involvement from local partners.
Located in Abu Dhabi, the industrial complex will ensure the development of renewable energy sources, an electrolysis plant, a hydrogen storage facility, and hydrogen tankers for transport.
The complex is expected to contribute to the development of the Abu Dhabi Industrial Strategy (ADIS), which seeks to develop value chains for targeted sectors. The UAE’s National Hydrogen Strategy also aims to make it a top 10 producer of green hydrogen by 2031, with a target output of 1.4 million tonnes per year.
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