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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