Energia
Altaaqa and AFC Energy to develop zero-emission, hydrogen power generation solutions in Saudi Arabia and the wider Middle East
AFC Energy is a UK based company that delivers scalable alkaline fuel cell systems in order to provide clean electricity for on and off grid applications. The technology is already being deployed in electric vehicle chargers and for off-grid decentralised power systems as part of a portfolio approach to the decarbonisation of electricity needs.
The MoU forms the basis of a long term-partnership which will cover the region, with the aim of gaining market leadership for reliable and safe, "hydrogen-to-power" solutions for various industry segments and applications.
This agreement solidifies Altaaqa´s and Zahid Group's commitment to leading the way in the transition to sustainable fuels by being a leading participant in the development of the Kingdom's hydrogen economy and ecosystem. This commitment further aligns the Zahid Group's tireless efforts with the Kingdom's Vision 2030 objective of reducing its reliance on fossil fuels. The agreement comes shortly after His Royal Highness Crown Prince Muhammad Bin Salman Bin Abdulaziz Al Saud unveiled the Saudi Green Initiative and the Green Middle East Initiative that will significantly contribute to achieving global targets in confronting climate change. The Saudi Green Initiative is targeting a 60% reduction in the region's carbon emissions.
The signing ceremony also provided an opportunity to highlight the beneficial role that sport can play in highlighting the global climate emergency. The agreement was signed at Extreme E's inaugural X Prix – the Desert X Prix - held in AlUla, Saudi Arabia. Extreme E has been designed to highlight the most important climate issues of our generation and to showcase technologies that can accelerate global decarbonisation efforts.
+44 (0) 203 727 1000
alexandrarm@altaaqa.com / +49 172 397 0957
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