MoU focuses on developing pathways to produce and export hydrogen for Austria and southern Germany
Abu-Dhabi headquartered clean energy firm Masdar and Austrian utility VERBUND are to explore the production of green hydrogen for Austria and Southern Germany.
The two companies have signed a memorandum of understanding to produce and export hydrogen, with Verbund chief executive Michael Strugl stating that green hydrogen “is the game-changer for a sustainable energy system, taking us a step closer to carbon neutrality”.
Verbund generates 97% of its electricity from renewables, mainly hydropower, plus some wind and solar.
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Strugl believes green hydrogen will become a crucial building block to decarbonize industry and transport in Europe and Verbund has already launched several flagship projects to expand its value chain into green hydrogen.
Last year, Masdar announced the establishment of its new green hydrogen business, with a goal of producing 1 million tonnes of green hydrogen per annum by 2030.
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Masdar chief executive Mohamed Jameel Ramahi said that the “future is upon us” in respect of green hydrogen.
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