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Broaden Energy invests AED 1 billion to establish hydrogen equipment manufacturing complex in Abu Dhabi
 
Broaden Energy invests AED 1 billion to establish hydrogen equipment manufacturing complex in Abu Dhabi
Abu Dhabi, 14 June 2024 — The Abu Dhabi Department of Economic Development (ADDED) announced today the signing of a Memorandum of Understanding (MoU) with Broaden Energy, a global leader in hydrogen energy solutions. Under this agreement, Broaden Energy will establish the first hydrogen equipment manufacturing complex in Abu Dhabi. This complex aims to support the goals of the Abu Dhabi Industrial Strategy (ADIS), advancing sustainability, developing value chains, and strengthening Abu Dhabi’s position as the region’s most competitive industrial hub.
The new manufacturing complex, with over AED 1 billion in investments, will serve as a cornerstone for the region’s hydrogen economy, creating new job opportunities and stimulating economic development and innovative industrial solutions.
ADDED and Broaden Energy will cooperate closely to ensure the project aligns with the strategic goals of the UAE National Hydrogen Strategy and the Net Zero 2050 Strategy. The UAE’s National Hydrogen Strategy aims to make it a top 10 producer of green hydrogen by 2031 with an output target of 1.4 million tonnes per year. The UAE also plans to establish hydrogen hubs to accelerate industry adoption of hydrogen, cultivating a supply chain and enabling infrastructure to attract global energy players.
By fostering the production of hydrogen equipment locally, the complex will enhance the country's energy infrastructure and position Abu Dhabi as a beacon of industrial excellence and technological innovation.
Eng. Arafat Al Yafei, Executive Director of the Industrial Development Bureau (IDB), ADDED’s arm to develop and regulate the industrial sector, said: “We are proud to support Broaden Energy on pioneering this initiative, which marks an important step toward achieving our goals for Abu Dhabi’s industrial future. The hydrogen complex is central to ADDED’s efforts in supporting the UAE’s Net Zero 2050 targets through innovative solutions. Abu Dhabi’s thriving industrial sector places sustainability at the forefront of its activities and continues to attract investments in targeted industries.”
Mr. Adnan Sokolija, CEO of Broaden Energy, said “Establishing the first hydrogen equipment manufacturing complex in Abu Dhabi is a testament to our commitment to advancing renewable energy and supporting the UAE's strategic vision. We are excited to collaborate with ADDED to bring this groundbreaking project to life and contribute to a sustainable future.'
The MoU between ADDED and Broaden Energy will facilitate a continuous exchange of knowledge and research, with a focus on renewable energies and green hydrogen technologies. As an integral facet of Abu Dhabi’s ever-growing industrial sector, the collaboration aims to drive innovation, accelerate the adoption of clean energy solutions, and encourage efforts to combat climate change.
 

Posted by : Abu Dhabi and Al Ain PR Network Editorial Team
Viewed 1056 times
PR Category : Banking & Investments
Posted on : Friday, June 14, 2024  3:07:00 PM UAE local time (GMT+4)
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