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Masdar, the UAE’s clean energy company, and Austria’s integrated energy firm OMV have signed a non-binding Letter of Intent (LOI) to explore joint development of green hydrogen, synthetic sustainable aviation fuel (eSAF), and other sustainable products. The agreement was signed during a ceremony held in Vienna, attended by senior officials from both countries and companies. The collaboration aims to identify and pursue opportunities across Austria, the UAE, and Central and Northern Europe, with a focus on accelerating decarbonization and advancing energy transition efforts. The LOI was signed by Mohammad Abdelqader El Ramahi, Chief Green Hydrogen Officer at Masdar, and Martijn van Koten, OMV Executive Board Member and Executive Vice President Fuels & Feedstock and Chemicals. The signing took place in the presence of H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, Dr. Alfred Stern, CEO of OMV, and H.E. Dr. Wolfgang Hattmannsdorfer, Austria’s Federal Minister of Economy, Energy and Tourism. Also present at the event were H.E. Hamad-Ali Mohammed Subaih Alkaabi, UAE Ambassador to Austria, and other high-ranking officials. “This agreement expands our partnership with OMV and moves us closer to delivering green hydrogen to drive energy system transformation and energy security,” said El Ramahi. “By leveraging our combined capabilities, Masdar and OMV are looking to produce green hydrogen and derivatives at industrial scale.” Van Koten added, “Our exploration of new opportunities with Masdar in green hydrogen and sustainable synthetic fuels aims to deliver concrete business opportunities and help reshape industries. Together, we aim to drive innovation and set new standards for sustainable solutions.” Masdar has set a goal to become a leading global producer of green hydrogen and its derivatives by 2030, and is actively developing commercial-scale projects in key global markets. OMV, as part of its 2050 net-zero target, is prioritizing the production of green hydrogen through electrolysis using renewable energy to decarbonize its operations. |
