Lhyfe and Masdar Join Forces to Drive Large-Scale Green Hydrogen Projects in Europe
Key Ideas
- Lhyfe and Masdar signed an MoU at Abu Dhabi Sustainability Week to explore opportunities for large-scale green hydrogen production projects in Europe.
- The collaboration aims to leverage the expertise of both companies to accelerate the deployment of green hydrogen projects and drive decarbonization in the industry.
- Masdar's commitment to a 100GW renewable energy portfolio by 2030 aligns with its goal to become a leading producer of green hydrogen, targeting 1 million tonnes per annum globally within a decade.
- Both companies aim to capitalize on their strengths to make a significant impact on greenhouse gas emissions through the development of large-scale green hydrogen sites.
Lhyfe, a green and renewable hydrogen producer, and Masdar, the UAE's clean energy leader, have joined forces to explore large-scale green hydrogen production projects in Europe. The Memorandum of Understanding (MoU) signed at Abu Dhabi Sustainability Week outlines their strategic partnership to collaborate and invest in the green hydrogen value chain. Lhyfe, established in 2019, has a growing presence in the green hydrogen sector with multiple production sites in Europe and ambitious projects underway. Masdar, aiming for a 100GW renewable energy portfolio by 2030, is focused on becoming a key player in green hydrogen production globally. The collaboration aims to accelerate the development of green hydrogen projects to achieve significant reductions in greenhouse gas emissions. Both companies see this partnership as an opportunity to combine their expertise and resources to drive innovation and sustainability in the industry. With a shared goal of decarbonizing industry on a large scale, Lhyfe and Masdar are poised to make a substantial impact on the green hydrogen sector and contribute to a more sustainable future.
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