Sunday, August 9, 2020
News
NEWS HOME
»
PRN INDIA
Air Products, ACWA Power and NEOM Sign Agreement for $5 Billion Production Facility in NEOM Powered by Renewable Energy for Production and Export of Green Hydrogen to Global Markets
  SocialTwist Tell-a-Friend  
   

The World's Largest Green Hydrogen Project Will Supply 650 Tons Per Day of Carbon-Free Hydrogen for Transportation Globally and Save the World Three Million Tons Per Year of CO2

LEHIGH VALLEY, Pa., July 7, 2020 /PRNewswire/ --  Air Products, in conjunction with ACWA Power and NEOM, announced the signing of an agreement for a $5 billion world-scale green hydrogen-based ammonia production facility powered by renewable energy. The project, which will be equally owned by the three partners, will be sited in NEOM, a new model for sustainable living located in the north west corner of the Kingdom of Saudi Arabia, and will produce green ammonia for export to global markets.

The joint venture project is the first partnership for NEOM with leading international and national partners in the renewable energy field and it will be a cornerstone for its strategy to become a major player in the global hydrogen market. It is based on proven, world-class technology and will include the innovative integration of over four gigawatts of renewable power from solar, wind and storage; production of 650 tons per day of hydrogen by electrolysis using thyssenkrupp technology; production of nitrogen by air separation using Air Products technology; and production of 1.2 million tons per year of green ammonia using Haldor Topsoe technology.  The project is scheduled to be onstream in 2025.      

Air Products will be the exclusive off-taker of the green ammonia and intends to transport it around the world to be dissociated to produce green hydrogen for the transportation market.

"We are honored and proud to partner with ACWA Power and NEOM and use proven technologies to make the world's dream of 100 percent green energy a reality,"  said Seifi Ghasemi, Chairman, President and Chief Executive Officer for Air Products.  "Harnessing the unique profile of NEOM's sun and wind to convert water to hydrogen, this project will yield a totally clean source of energy on a massive scale and will save the world over three million tons of CO2 emissions annually and eliminate smog-forming emissions and other pollutants from the equivalent of over 700,000 cars."

Mohammad A. Abunayyan, ACWA Power Chairman, said, "Stemming from our belief in Vision 2030 and HRH Crown Prince Mohammed bin Salman's aspirations for NEOM to become the global pioneer in sustainable living, the Board of Directors and Management of ACWA Power are proud to take part in this groundbreaking and first-of-its-kind investment in the world. ACWA Power has a proven track record of leveraging pioneering renewable technologies to deliver carbon-free power at the lowest cost. With our global experience, we are confident that our collaboration with an industry-leading company like Air Products will create significant opportunities in the  production of green hydrogen, and further us in our goal to help countries meet their clean energy targets and unlock significant socio-economic benefits. Based in NEOM's Industrial Cluster, and enabled by its unique mandate, this investment will integrate and localize cutting-edge technologies that will harness solar and wind power to produce sustainable and globally accessible green energy."

NEOM CEO, Nadhmi Al Nasr, said, "This partnership reflects our deep commitment to developing a carbon positive society which will be a beacon for sustainable living and a solution to many of the environmental challenges facing the world. This demonstrates the    ability of NEOM to generate significant partnership opportunities for international and national investors. This is a pivotal moment for the development of NEOM and a key element in Saudi Vision 2030 contributing to the Kingdom's clean energy and circular carbon economy strategy. As the world's largest renewable hydrogen project, NEOM's Board of Directors, headed by HRH Crown Prince Mohammed bin Salman,  and the company's Executive team are delighted to announce this significant milestone for NEOM in becoming a global leader in green hydrogen production and green fuels. We are also excited that two world-class organizations, Air Products and ACWA Power, have joined us in developing this major project, the first of many developments at this scale that will put NEOM at the heart of a new future society."

About Air Products

Air Products (NYSE:APD) is a world-leading industrial gases company in operation for nearly 80  years. Air Products is currently the largest supplier of hydrogen worldwide. Focused on serving energy, environment and emerging markets, the Company provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the global leader in the supply of liquefied natural gas process technology and equipment. The Company develops, engineers, builds, owns and operates some of the world's largest industrial gas projects, including gasification projects that sustainably convert abundant natural resources into syngas for the production of high-value power, fuels and chemicals.

The Company had fiscal 2019 sales of $8.9 billion from operations in 50 countries and has a current market capitalization of about $55 billion. More than 17,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and address the challenges facing customers, communities, and the world. For more information, visit airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.

Air Products Investor Call to Discuss This Project: 8:30 a.m. USET on July 7, 2020

*Air Products' Investor Call Details
Air Products will hold a conference call on Tuesday, July 7, 2020 at 8:30 a.m. USET to discuss the project. The teleconference will be open to the public and the media in listen-only mode by telephone and Internet broadcast.  

Live teleconference: 323-994-2082
Passcode: 3757916
Internet broadcast/slides: Available on the Event Details  page on Air Products' Investor Relations website.  

Telephone replay:
888-203-1112 (domestic) or 719-457-0820 (international)  
Passcode: 3757916
Available from 12:30 p.m. USET on July 7, 2020 through 12:30 p.m. USET on July 14, 2020.  
Internet replay: Available on the Event Details  page on Air Products' Investor Relations website.

This release contains "forward-looking statements" within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including, without limitation, those described in Air Products' Annual Report on Form 10-K for its fiscal year ended September 30, 2019. Except as required by law, Air Products disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs, or expectations or any change in events, conditions, or circumstances upon which any such forward-looking statements are based.

About ACWA Power

ACWA Power is a developer, investor and operator of power generation and desalinated water production plants. Registered and established in 2004 in Riyadh, Saudi Arabia,

ACWA Power employs over 3,500 people and is currently present in 12 countries in the Middle East, Africa, Central Asia and Southeast Asia. ACWA Power's portfolio includes 59 assets with an investment value of USD 48.8 billion, producing 34 GW of power and 5.9 million m3 /day of desalinated water delivered on a bulk basis to address the needs of state utilities and industries on long term, off-taker contracts under utility services outsourcing and Public-Private-Partnership models. ACWA Power's mission is to reliably deliver electricity and desalinated water at a low cost, thereby contributing effectively to the sustainable, social and economic development of communities and countries. ACWA Power is committed to the values of Safety, People and Performance in operating its business across all geographies. For more information, please visit www.acwapower.com

About NEOM

NEOM is an accelerator of human progress and a vision of what a New Future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this New Future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses, and reinventing environmental conservation.    

NEOM will be the home and workplace to more than a million residents from around the world. It will include towns and cities, ports and enterprise zones, research centers, sports and entertainment venues, and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate and commercialize new technologies and enterprises in ground-breaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity - all supported by a progressive law compatible with international norms and conducive to economic growth. For more information email media@neom.com; or go to newsroom.neom.com  or visit www.neom.com

 

More News by PR Newswire India

THRIVE II: This Is What It Takes releases trailer August 8th in 15 languages for sequel to one of the top watched documentaries of all time

First liquid biopsy to receive FDA Approval for comprehensive tumor profiling across all solid cancers, Guardant Health's Guardant360® CDx, gains credibility among oncologists in Asia, Middle East and Africa.

First hospitals in U.S. implant next-generation cardiac device to reduce risk of stroke

Vype Celebrates 30 Days of Summer with 30 Prize Draws

TekMonks launches globally successful work-from-home digital solutions in India

Huawei Users Get Gifts to Celebrate Motorball Launch on AppGallery

Shemaroo, TVS Credit among leading brands increase Push Notifications Delivery by 50 to 70% with Netcore's Smart Push

GE Healthcare and NTTF partner to offer courses for healthcare technician roles

SGS is Accredited by The National Accreditation Board For Certification Bodies for Certification Of PPE Medical Coveralls for Exports

IAS First to Integrate with Google Ads Data Hub for Viewability and Brand Safety, Bringing Advertisers Privacy-Centric Metrics Across YouTube

ETMONEY launches India's Favourite Investment product, Fixed Deposits, assuring up to 7.35% returns

OKEx's BTC Perpetual Swap Funding Rates Among the Most Competitive in the Industry

Thentia Closes Series A With BDC to Bring Advanced Tech to Regulation

Dietary cholesterol and phytosterols contribute directly to heart disease

Media Advisory - BMO Financial Group to Announce its Third Quarter 2020 Results

CoinPayments Launches Global Business Development & Partnerships Team, Hires Key Executives in North America and Europe to Drive Growth

Covistat, Biopharmaceutical Company Developing Low-Cost COVID-19 Treatment, Acquires IP From World Leader in Respiratory Disease Medicine

Alembic Pharmaceuticals raises INR 750 crores via QIP, issue subscribed by nearly 2x. Monarch Networth Capital Ltd banker to the issue

Simplilearn and NSDC Announce Collaboration to Upskill Professionals in Digital Skills

Russell Reynolds Associates Acquires Cultural Analytics Business From Workplace Analytics

Scener and Agora Partner to Scale Watch Party Platform After Seeing 100x Growth

Enhanced Technologies Help E-commerce Platforms and Merchants Deliver a More Intelligent Live Streaming Experience

OnePlus and PUBG MOBILE Team Up to Deliver Exclusive 90 FPS Experience for Mobile Gamers

Milliman adds J.P. Augeri to global retirement and benefits team

Borderless Capital Invests in and Partners with StakerDAO to Accelerate Access to DeFi Across Algorand Ecosystem

The 23rd TDO® Software and 2nd GentleWave® User Meeting Moving to an All Virtual Experience

Smarten Announces an Innovative eLearning Course, 'Be a Citizen Data Scientist - Aspire, Inspire, Become'

Token Metrics launches 14 AI cryptocurrency indices

Caprion-HistoGeneX and Viroclinics-DDL announce a strategic partnership to offer integrated, complementary services to advance infectious disease research and COVID-19 therapeutic development

Thailand BOI Urges Investors to Focus on Business Upgrades Ahead of 2021 Recovery

Timex Brings Back '80s Nostalgia With The Launch Of T80 PAC-MAN™ In India During Amazon Prime Day 2020

Global Gas Industry Set to Resume Growth Post-Pandemic, Adopt Low-Carbon Technologies for Long-Term Growth

Celgard Successful in UK Court and is Granted Injunction Against Senior Battery Separator Imports Through Trial

CIIE: Larger, high-quality international import expo gearing up for November

REDD Intelligence Closes $5.8m Equity Financing to Accelerate Global Expansion, Expand Emerging Market Research Offering, Open London Office

Call for Entries now open for Lexus Design Award India 2021

Endress+Hauser Commended by Frost & Sullivan for Leading the Liquid Analyzer Market with Its Best-in-class Digital Instrumentation and Solutions

Lasa Supergenerics Q1FY21 Pat at 5.37 crs, Up 437% YoY

MSI unveils exciting Independence Day Sale offers on Flipkart and Amazon

IPM India Wholesale Trading Private Limited is Great Place to Work® Certified

CIE@IIIT Hyderabad announces 11th Cohort of deeptech and 5th Cohort of medtech Accelerators

Glenmark introduces higher strength (400 mg) of FabiFlu® to reduce pill burden of COVID-19 treatment

The Global Business Barometer improved for the second straight month, with the 3-month outlook for many industries moving from "much" to "somewhat" worse

PayU enables merchants to scale up financial operations with enhanced payouts solutions suite

'Let go of your Ego and you will find God'- The new E-book by AiR shows the way to find God

KBC releases Value Chain Optimization Manifesto to guide an embattled Energy and Chemical industry back to profitability

Income Solution For All Age-Groups: Edelweiss Tokio Life - Active Income Plan

Mediaocean Acquires Symsys To Expand European Operations

AVCtechnologies Announces Agreement to Buy Ribbon's Kandy Communications Business

Global Advanced Metals Announces Appointments of Donna Grier and Renee Hornbaker to Its Board of Directors

The Royal Canadian Mint Recognizes the 150th Anniversary of the Northwest Territories in its Newest Suite of Collector Coins

X2O Media Introduces Two New Media Players to Their Full Solution Offering

Jacobs Applauded for Its Best-in-Class Digital Water Solutions and Robust Partner Network

Customer Experience Outsourcers Launch Intelligent and Self-service Options to Improve Business Outcomes in Europe

Eye Level Literary Award 2020 for Aspiring Young Authors Goes Online

Johnson & Johnson Announces Agreement with U.S. Government for 100 Million Doses of Investigational COVID-19 Vaccine

Mercedes-Benz and CATL as a major supplier team up for leadership in future battery technology

Frost & Sullivan Presents Top Sensor Technologies Impacting the Future of Smart Cities

Global consumer electronics giant Hisense unveils its 'Made in India' television range; to be available from 6th Aug 2020

Axis Bank & Innoviti tie-up to extend affordability in times of COVID crisis through Debit Card EMI on POS terminals

Appointment of Ms. Supriya Prakash Sen as a Director on the Board of Azure Power Global Limited

83% Educational Institutions Plan to Conduct Exams Online, Finds Mercer | Mettl's Recent Study

OKEx Launches Peer-to-Peer Trading Platform With Multiple Payment Methods in India

Xoxoday's journey of motivating 2+ mn humans

Edelweiss Tokio Life - Active Income Plan: A Three-Generation Income Solution

ONE Championship Lands in Top 10 in Facebook Engagement Among Global Sports Properties

NTT Ltd. Acclaimed by Frost & Sullivan for its Comprehensive Intelligent Solution Suite for Enterprise Systems Integration

Malibu & DJ Dillon Francis Remix an Internet Sensation into a Summer Anthem You Can't Ignore

The Point-of-Care Ultrasound Certification Academy announces Doctors Without Borders as MissionPOCUS selection for 2020

Perfect World CEO Dr. Robert H. Xiao: Content Consumption to Change Dramatically Thanks to 5G

Perfect World CEO Dr. Robert H. Xiao: the COVID-19 pandemic will stimulate new growth across the e-sports industry

Cordico Announces Exclusive Partnership With 'Emotional Survival' Author Dr. Kevin Gilmartin

CFA Institute to Transition to Computer-Based Testing For All Levels of the CFA® Program in 2021

CoinLock Launches Netflix-Like Annual Subscription Model to Buy or Sell Bitcoin, Providing Members with Unlimited Trading Capacity and Saving Them Millions in Fees.

Lighting Industry Leaders Join Forces to Offer Ultraviolet Light Safety Guidance

Connected for Better: AACSB's Focus on Positive Societal Impact

Suresh Raina, Yuzvendra Chahal, Parthiv Patel & Pathan Bros join hands with Amitabh Shah's Yuva Unstoppable & Vedanta Limited

Philips Audio expands its product portfolio on Amazon Prime Day Sale

Gramercy Statement on Agreement Between Argentina and its Creditors

A Doctor from Visakhapatnam Wins ₹50 Lakhs in Junglee Rummy's RPL 8 Tournament

Kajal Agarwal takes her stance on #VocalforLocal - KhelPlay Rummy

OSH India Virtual Expo: A virtual initiative to create and sustain awareness for Occupational Safety and Health

Goodknight Fabric Roll-On vows to protect children in their indoor playgrounds in a new digital film

World Federation of Hemophilia (WFH) publishes "The WFH Guidelines for the Management of Hemophilia, 3rd edition"

Edtech venture GlobalShala aims to cultivate design thinking, entrepreneurship, and innovation to solve global challenges highlighted in United Nation's SDGs through the launch of their 'Superhero U' competition with prizes worth $90,000

Godrej & Boyce sees growth in precision engineered equipment as 'Make in India' policy gathers momentum

Staying the Course: Golden Agri-Resources' latest Sustainability Report highlights continued commitment to responsible production

Panchshil Realty's Office Portfolio First in APAC to Meet British Safety Council's Global Benchmarks for COVID-19 Related Control Measures

IIIT Hyderabad to Conduct Course on Online Pedagogy

Bank Alfalah and TerraPay to Launch Home Remittance Service to Pakistan

iHerb Announces Major Enhancement to iHerb's Popular Rewards Program

Airtel Selects Ribbon's 5G-Native Neptune Platform to Upgrade its Packet Transport Network

BNI® Global Announces Partnership with JCI, Enhancing Support to Global Business Professionals & Economies

Announcing World Food Travel Market

MSRCosmos Has Earned the SAP on Microsoft Azure Advanced Specialization Status

Shanghai Electric has been awarded EPC contract for 5th phase project of Dubai solar park

TB Alliance Announces European Commission Authorisation of New Treatment for Highly Drug-Resistant Tuberculosis

SIRUI, a Camera Accessories Manufacturer, Released Its 35mm f/1.8 1.33x Anamorphic Lens on INDIEGOGO August 3, 2020

GlobalData Ranks Ribbon the Leader in Network Slicing In 5G Transport Competitive Landscape Assessment

CIFF Guangzhou 2020 Successfully Concludes: Striving to Drive Steady Growth Across the Industry During the Pandemic

Cruise with confidence on Jalesh Cruises from 6th November 2020

GranBio and NextChem sign partnership to develop cellulosic ethanol market

Huawei Announces Global Rollout of New Device Gaming Hub - HUAWEI GameCenter

Flowhaven Opens London Office, Announces 2020 Momentum

Chandigarh & Mohali Housing Demand will get a boost due to Reverse Migration, opines Family Nest Real Estates Private Limited

Bank of Baroda Credit Card offers EMIs on PoS Terminals in partnership with Innoviti

Macrogen Obtains Europe's CE-IVD Certificate for its COVID-19 Test Kit

USGIC Launches India's 1st AI-powered Conversational Agent for Motor Insurance

Colliers International Appoints Subhankar Mitra as Managing Director, Advisory Services (India)

New Genesys Cloud Integration with Microsoft Teams Drives Productivity and Collaboration

FoodServiceDirect.com taps Unbxd's AI to power digital transformation across B2B and B2C

Pinterest Announces Update to Videos to Inspire Audiences in India to take Action on Ideas

CrowdPouch raises Angel Round from Elina Investments

JA Solar Supplies Modules for Malaysia's First Bifacial-Plus-Trackers Project

BowerGroupAsia Welcomes Ratan Shrivastava as new Managing Director for India

New Clinical Trial Reports Reduction in COVID-19 Hospitalization Days by 28%

Cision Publishes State of the Press Release, Uncovering How Communicators Can Create More Effective Press Releases

Growing number of patients choose COVID home care from RxDx clinics, Bengaluru

MIT-SDE Becomes the First Indian Institute to Collaborate with LinkedIn Learning

BC Cricket Championship: A thrilling and an exciting action packed August awaits for millions of cricket fans as Cricket comes alive in Canada

CGTN:Why Chinese military enjoys extensive support from the people

Rihanna Launches Fenty Skin

Zinnov Awards 2020 recognizes the Titans in Tech, individuals, and organizations who have become synonymous with excellence in the GCoE ecosystem

CGTN: Decoding China's vision for new era world-class army

LANXESS disinfectant kills coronavirus SARS-CoV-2 in just 60 seconds

Cosmoprof India and Personal Care Ingredients & Lab 2020 Present Their New Digital Events

India lays out the red carpet for Italian companies to 'plug and play' in its food parks

NTTF Joins Hands with Skanray to offer great opportunity to get Post Graduate Diploma in Medical Technical Field with Industry attachment

Epic Seven Releases New Limited Hero "Holiday Yufine"

Magical Mangroves: A nationwide campaign for mangrove awareness launched by Godrej & Boyce and WWF India

Mukta Kumar from Konnections IMAG receives 'Entrepreneur of the Year' Award at the 1st Edition of Exchange4media Women Achievers Summit and Awards 2020

ICFAI Business School (IBS) Announces IBSAT 2020 MBA Entrance Exam For Students Seeking Admission For MBA Courses

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Pending India-Bangladesh issues will be ...
Inspired reading in the lead-up to Indep...
Palghar lynching: Maha CID submits first...
Raising issue of unemployment, IYC to st...
Probe by Mumbai, Bihar police into Susha...
LeT terror module busted in J&K, six arr...
More...    
 
 Top Stories
Eng v Pak 1st Test: Woakes, Buttler... 
Krishna river in rain-hit Karnataka... 
Karnataka's COVID-19 death toll bre... 
Bihar cop's quarantine not to stall... 
Sanjay Dutt hospitalised, tweets to... 
Telangana govt will allow Ganesh fe... 
India's COVID-19 recovery rate stan... 
Number of those injured in Beirut c...