To position the UAE as one of the leading green hydrogen producers by 2031, the National Hydrogen Strategy outlined plans to invest around $54.5 billion to triple the contribution of renewable energy over the next seven years.

The country also aims to produce 1.4 million tonnes of green hydrogen per year and set up hydrogen facilities to boost its production, storage, and transport.

To push the hydrogen industry forward, the Abu Dhabi Department of Economic Development (ADDED) and UK’s net zero asset management firm Hycap Group have teamed up to establish a hydrogen-based industrial complex in Abu Dhabi. 

The complex will specialize in hydrogen-related industries and the advancement of renewable energy sources, aiming to attract and establish more industrial companies and bolster the value chains within this sector.

Under the partnership, Hycap will work on creating a robust ecosystem of industries in Abu Dhabi that revolve around the hydrogen industry and clean energy infrastructure. This includes establishing clean hydrogen production facilities, clean hydrogen storage and transport, an electrolyzer manufacturing facility, electrical charging manufacturing, fuel cell manufacturing, and developing bus and truck manufacturing facilities. 

The strategy is to align supply and demand for hydrogen locally, scaling up to create a viable proposition for export sales growth. 

“The UAE is leading the transition to clean, renewable energy, and this agreement with the Abu Dhabi Department of Economic Development is a demonstrable example of the commitment in the region to grasp the opportunity this presents,” said Jo Bamford, chairman and founding partner of Hycap Group.

HYCAP Group established its regional headquarters in the Abu Dhabi Global Market (ADGM) in November 2023.