Altaaqa and AFC Energy have signed a MoU to support the transition of the region’s power generation industry to zero emission solutions using AFC Energy’s hydrogen fuel cell technology.
The MoU forms the basis of a long term-partnership which will cover the region, with the aim of gaining market leadership for reliable and safe, “hydrogen-to-power” solutions for various industry segments and applications.
This agreement solidifies Altaaqa’s and Zahid Group’s commitment to leading the way in the transition to sustainable fuels by being a leading participant in the development of the Kingdom’s hydrogen economy and ecosystem. This commitment further aligns the Zahid Group’s efforts with the Kingdom’s Vision 2030 objective of reducing its reliance on fossil fuels.
The agreement was signed at Extreme E’s inaugural X Prix – the Desert X Prix – held in AlUla, Saudi Arabia. Extreme E has been designed to highlight the most important climate issues of our generation and to showcase technologies that can accelerate global decarbonisation efforts.
“Today marks the beginning of a new partnership with AFC Energy, an industry leader in delivering clean electricity. We are confident that together we will be a significant player in our Kingdom’s aim of becoming the world’s leading hub in the production of green hydrogen and ammonia. Zahid Group is fully aligned with our Kingdom’s strategic vision for the future and across all our Group’s companies we are demonstrating our belief in it.”Majid T. Zahid, group president – Energy at Zahid Group
“AFC Energy is delighted to be commencing our strategic partnership with Altaaqa, a partner of choice to many of the world’s leading industrial and energy companies, as they look to support industry’s transition to a Net Zero economy in the Kingdom of Saudi Arabia and the wider Middle East. This agreement provides a clear path for the future deployment of our products, directly supporting Altaaqa’s position as a market leader and providing a clear reference point for the rest of the region. We are grateful to Extreme E for the platform they have given us to demonstrate and promote our zero emission power systems in some of the regions that are being hardest hit by climate change.”Adam Bond, chief executive officer at AFC Energy.
“I’m thrilled that AFC Energy and Altaaqa have signed this agreement, here at our first Extreme E X-Prix. It is a huge commitment to clean energy solutions for our planet. As a sport, Extreme E aims to be a driving force in highlighting sustainable ways to run events and our AFC Energy hydrogen fuel cell is key to that. We are thrilled to see this exciting technology being applied to wider world use that will have such positive effect in the industry.”Alejandro Agag, founder and CEO of Extreme E.