The Abu Dhabi Future Energy Company, Masdar, has signed a memorandum of understanding with Verbond, an Austrian company, to explore opportunities for green hydrogen production for the Central European market.
The Memorandum of Understanding was recently signed by Michael Stroegl, CEO of Verbond, and Mohamed Abdelkader Al Ramahi, Executive Director of Green Hydrogen Management at Masdar.
Under the agreement, the two companies will cooperate in developing green hydrogen production and export routes to Central Europe, with a focus on Austria and the southern region of Germany.
Last year, Masdar announced the establishment of its new green hydrogen department, and set a goal of producing one million tons of green hydrogen annually by 2030.
Verbond generates its electricity almost entirely from environmentally friendly renewable energy sources, particularly from water energy, then wind energy and solar energy. It is also active in the field of energy transmission and international trade. Verbond considers that green hydrogen will become a key pillar of decarbonization of sectors and transport in Europe, and has already launched several pilot projects to expand its value chain to include green hydrogen.
Green hydrogen is usually produced through the electrolysis of water using renewable energy sources. The resulting energy carrier can be used in many energy applications, as it can be used in the form of hydrogen or converted into other derivatives for industry, energy or transportation, supporting the decarbonization of high-emitting sectors such as heavy industry, long-distance transportation, shipping and aviation.
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