- Companies sign non-binding Letter of Intent (LOI) to partner in the production of green hydrogen, synthetic sustainable aviation fuels, and other synthetic chemicals
- Agreement covers potential opportunities in Austria, the UAE and in Central and Northern Europe for the production of green hydrogen and its derivatives
- Masdar and OMV are committed to accelerate the scale-up and commercialization of green hydrogen to drive energy transformation and energy security
Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy leader, and OMV, Austria’s integrated chemicals, fuels and energy company, have signed an agreement to partner in the production of green hydrogen, synthetic sustainable aviation fuel (eSAF), and other sustainable products.
Standing f.l.t.r.:
H.E. Hamad-Ali Mohammed Subaih Alkaabi (Ambassador of the UAE to the Federal Republic of Austria)
H.E. Dr. Sultan Ahmed Al Jaber (UAE Minister of Industry and Advanced Technology and Chairman of Masdar)
Dr. Alfred Stern (Chief Executive Officer of OMV)
H.E. Dr. Wolfgang Hattmannsdorfer (Austria’s Federal Minister of Economy, Energy and Tourism)
Seated f.l.t.r.:
Mohammad Abdelqader El Ramahi (Chief Green Hydrogen Officer, Masdar) and Martijn van Koten (OMV Member of the Executive Board and Executive Vice President Fuels & Feedstock and Chemicals)
Representatives for Masdar and OMV signed in Vienna a non-binding Letter of Intent (LOI) to collaborate on future opportunities in Austria, the UAE and in Central and Northern Europe. Both companies aim to explore potential avenues to develop and produce synthetic sustainable aviation fuel, other synthetic fuels and synthetic chemicals.
The LOI was signed 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, Chief Executive Officer of OMV, and H.E. Dr. Wolfgang Hattmannsdorfer, Austria’s Federal Minister of Economy, Energy and Tourism. It was signed by Mohammad Abdelqader El Ramahi, Chief Green Hydrogen Officer, Masdar, and Martijn van Koten, OMV Member of the Executive Board and Executive Vice President Fuels & Feedstock and Chemicals.
Mohammad Abdelqader El Ramahi, Chief Green Hydrogen Officer, Masdar, said: “This agreement expands our partnership with OMV and moves us closer to delivering green hydrogen to drive energy system transformation and energy security. By leveraging our combined capabilities, Masdar and OMV are looking to produce green hydrogen and derivatives at industrial scale, supporting decarbonization efforts and building the green hydrogen value chain.”
Martijn van Koten, OMV Member of the Executive Board and Executive Vice President Fuels & Feedstock and Chemicals: “At OMV, we see the future of energy as cleaner, smarter, and more collaborative. Our exploration of new opportunities with Masdar in green hydrogen and sustainable synthetic fuels is aiming to deliver concrete business opportunities, as well as to provide a bold step toward reshaping industries and accelerating decarbonization. Together, we aim to drive innovation and set new standards for sustainable solutions both in Austria and the UAE.”
Masdar is aiming to be a leading producer of green hydrogen and its derivatives globally by 2030, with the company developing and investing in commercial projects and building scalable platforms in key markets around the world.
In line with national and international climate goals, OMV has set the goal of becoming net zero by 2050 at the latest. A central pillar in achieving this goal is the use and production of green hydrogen via electrolysis from renewable electricity for use in its refineries.
About Masdar
Masdar (Abu Dhabi Future Energy Company) is one of the world’s fastest-growing renewable energy companies. As a global clean energy pioneer, Masdar is advancing the development and deployment of solar, wind, geothermal, battery storage and green hydrogen technologies to accelerate the energy transformation and help the world meet its net-zero ambitions. Established in 2006, Masdar has developed and invested in projects in over 40 countries with a combined capacity of over 50 gigawatts (GW), providing affordable clean energy access to those who need it most and helping to power a more sustainable future.
Masdar is jointly owned by TAQA, ADNOC, and Mubadala, and is targeting a renewable energy portfolio capacity of 100GW by 2030 while aiming to be a leading producer of green hydrogen by the same year.
Contacts:
For media inquiries, please contact: press@masdar.ae
For more information please visit: https://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar
About OMV Aktiengesellschaft
It is our purpose to re-invent essentials for sustainable living. OMV is transitioning to become an integrated sustainable chemicals, fuels and energy company with a focus on circular economy solutions. By gradually switching over to the low carbon business, OMV is striving to achieve net zero by 2050 at the latest. In 2024, the company generated revenues of 34 billion euros with a diverse and talented workforce of around 23,600 employees worldwide. OMV shares are traded on the Vienna Stock Exchange (OMV) and in the US on OTCQX (OMVKY, OMVJF). For more information, please visit www.omv.com.