King Abdullah University of Science and Technology (KAUST) and NEOM have joined forces in a strategic partnership to drive the transformation of Saudi Arabia's green economy. This collaboration focuses on advancing hydrogen and sustainable fuel production technologies through innovative research projects. NEOM's Education, Research, and Innovation Foundation, specifically the Hydrogen and E-Fuels Applied Research Institute (HEFARI), is supporting the development of green hydrogen as a renewable energy source. The recent KAUST Research and Technology Park summit showcased progress in this area, bringing together key stakeholders from various organizations to discuss ongoing projects and future opportunities. The summit highlighted the importance of economic green hydrogen and ammonia production, their applications in sustainable aviation fuel and marine propulsion, and the development of crucial technologies like electrolyzers and catalysts. Leading KAUST faculty members are spearheading research projects in carbon-neutral marine fuels, electrolysis technologies, and emissions reduction from green ammonia usage. This partnership is in line with Saudi Arabia's ambitious goals to increase renewable energy usage, aiming for 50% electricity generation from renewables by 2030 and achieving carbon neutrality by 2060. By emphasizing the circular carbon economy approach, the Kingdom aims to lead in combating climate change and advancing carbon management technologies.