10.10.2024
Aker Horizons Asset Development AS (AAD), a wholly owned subsidiary of Aker Horizons ASA, and Masdar Green Hydrogen LLC, a subsidiary of Abu Dhabi Future Energy Company PJSC (Masdar), have signed a Memorandum of Understanding (MoU) expressing their intent to explore joint development and investment opportunities across the green hydrogen value chain.
The MoU covers potential collaboration in the production, transportation, marketing, and sale of green hydrogen and its derivatives for the decarbonization of hard-to-abate sectors.
Masdar has been a pioneer in exploring hydrogen production since 2008 and is developing and investing in strategic projects and building scalable platforms in key markets around the world. AAD has developed a hydrogen platform with an attractive portfolio of projects in Norway and abroad. AAD and Masdar intend to jointly review and discuss potential areas of collaboration and identify specific project opportunities.
ENDS.
For further information, please contact:
Stian Andreassen, Investor Relations, Tel: +47 41 64 31 07, stian.andreassen@akerhorizons.com
Mats Ektvedt, Media, Tel: +47 41 42 33 28, mats.ektvedt@corporatecommunications.no
About Aker Horizons
Aker Horizons develops green energy and green industry to accelerate the transition to Net Zero. The company is active in renewable energy, carbon capture and hydrogen and develops industrial-scale decarbonization projects. As part of the Aker group, Aker Horizons applies industrial, technological and capital markets expertise with a planet-positive purpose to drive decarbonization globally. Aker Horizons is listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Across its portfolio, the company is present on five continents. www.akerhorizons.com
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 transition 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 31.5 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.