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New Mubadala, Siemens Energy deal to drive down costs of green hydrogen

New Mubadala, Siemens Energy deal to drive down costs of green hydrogen

Abu Dhabi state investor Mubadala has signed a deal with Siemens Energy to accelerate green hydrogen capabilities in UAE’s capital – and it includes driving down the cost of green hydrogen production.

The news, announced on Sunday (17th Jan), moves the UAE’s vision for a hydrogen economy a step closer to reality.

Under a Memorandum of Understanding (MoU), the two companies said they will utilise renewable energy to produce green hydrogen and synthetic fuels, providing clean and transportable energy to fuel new hydrogen-based ecosystems that are supplied from UAE.

Mubadala and Siemens said they will also jointly advance technology and drive down the costs of green hydrogen and synthetic fuels production.

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