Abu Dhabi National Oil Company (ADNOC) has entered into an agreement with ExxonMobil to acquire a 35% equity stake in ExxonMobil's low-carbon hydrogen and ammonia production facility in Baytown, Texas, United States. The collaboration aims to reduce greenhouse gas emissions in hard-to-decarbonize sectors like industry, energy, and transportation while meeting the increasing demand for lower-carbon fuels and advancing towards a net-zero future. The facility is expected to produce 1 billion cubic feet of low-carbon hydrogen daily and over 1 million tons of ammonia annually, with a focus on capturing more than 98% of the associated CO2 emissions. The completion of a final investment decision is anticipated in 2025, targeting a startup in 2029. ExxonMobil plans to employ advanced carbon capture and storage technologies to minimize emissions related to hydrogen production in the Texas facility. By supporting community initiatives and creating job opportunities, the project not only benefits the local economy in Baytown and the Houston area but also contributes to the overall prosperity of Texas. ADNOC's involvement signifies a strategic move to expand its lower-carbon energy sources and fulfill its international growth objectives. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC's CEO, highlighted the significance of this investment in transitioning to low carbon-intensity solutions. ExxonMobil's Chairman and CEO, Darren Woods, emphasized the importance of partnerships in accelerating market development, welcoming ADNOC's expertise and global insights to enhance the Baytown facility. ExxonMobil had previously secured agreements with Air Liquide and JERA to foster the growth of a low-carbon hydrogen market and explore opportunities in Japan, respectively. This initiative reflects a positive outlook on hydrogen as a sustainable energy solution and showcases a collaborative effort towards emissions reduction and environmental sustainability.