Subject to the agreement, the companies will look to establish a joint venture in order to manufacture and bring the hydrogen fuel cells to NEOM’s innovative floating industrial sector known as OXAGON.
This continues the proposed development of NEOM and integrating the latest of innovative technological solutions in order to create a functioning zero-emission city for the world’s brightest minds.
The city will additionally cement Saudi Arabia’s position at the forefront of not only the climate crisis but for hydrogen production and its integration into society with a number of applications planned for the city.
TECO2030 is a recognised developer of fuel cell stacks based in Norway. The stacks will be created in Narvik, Norway, with later plans to develop modules with a power output of 400kW in Saudi Arabia.
Tore Enger, CEO of TECO2030, said, “This marks the beginning of a fruitful cooperation with Al-Misehal Group with a goal of supplying the region with leading marine and heavy-duty fuel cells.
“We could not be more satisfied with our strategic partner, and we are looking forward to collaborating towards Saudi’s Vision 2030.”
Adnan Al-Misehal, Chairman of Al-Misehal, said, “We look forward to working with TECO2030 on the fuel cell deployment in KSA to manufacture heavy-duty hydrogen fuel cell units and transfer knowledge to the local workforce in the OXAGON Industrial City within NEOM.
“This joint venture is in line with the Kingdom’s Vision 2030, and a major milestone in achieving net zero carbon in 2060.”
NEOM – Making a bold move toward the hydrogen economy
When Saudi Arabia’s Crown Prince Mohammed bin Salman landed his helicopter on the edge of the Saudi Arabian desert beside the Red Sea a few years ago, it wasn’t rocky desert and empty coastline that he saw, but instead over 26,000km2 of inspiration. It was there he came up with ambitious plans for a $500bn futuristic mega-city powered by renewable energy: NEOM.
NEOM is a bold and audacious dream; a vision of what a new future might look – in fact, NEOM means ‘new future’. It’s an attempt to do something that’s never been done before, and it will be a place where entrepreneurship and innovation will chart the course for this ‘new future’. With flying cars and robotic domestic help, NEOM will be a home for people who dream big and want to be part of building a new model for sustainable living, working and prospering.
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