AD Ports Group and Masdar to Explore the Development of a Green Hydrogen Hub Within KEZAD

Dubai, UAE – 12 December 2023: AD Ports Group (ADX: ADPORTS), a leading facilitator of global trade, logistics, and industry, and Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, have announced the signing of a Memorandum of Understanding (MoU) on the sidelines of the UN Climate Change Conference, COP28, in Dubai.

AD Ports Group and Masdar MoU

Under the terms of the MoU, AD Ports Group and Masdar will jointly explore the development of a green hydrogen production hub within the Khalifa Economic Zones Abu Dhabi (KEZAD) that will serve both domestic and export markets, part of the UAE’s National Hydrogen Strategy that aims to scale up local hydrogen production to 1.4 million tons per annum by 2031, and 15 million tons per annum by 2050. In support of this strategy, Masdar is targeting an annual global green hydrogen production capacity of up to 1 million tons by 2030 and has signed and executed several global collaboration agreements to meet this goal.

Hydrogen could help to reduce global emissions by more than 20 percent by 2050 with demand rapidly increasing in recent years.

This hydrogen production hub could include export terminals of green products to overseas ports, which would attract more investments into the green hydrogen value chain in Abu Dhabi, as well as offer current and future KEZAD and Khalifa Port tenants the opportunity to develop green industries.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: “The signing of this MoU with Masdar is a monumental step for AD Ports Group. It aligns perfectly with our green H2 valley strategy, amplifying our efforts to create a robust UAE H2 platform for developing green and blue hydrogen projects both domestically and globally. Furthermore, the MoU not only exemplifies our shared ambition with Masdar to establish Abu Dhabi as a vital international hub for the production and export of hydrogen and its derivatives but also echoes our wise leadership’s vision to diversify the UAE’s economy and bolster our global competitiveness, especially within markets that increasingly prioritise environmentally friendly and sustainable practices.”

Mohamed Jameel Al Ramahi CEO of Masdar, said: “As a global clean energy pioneer with nearly two decades of experience in renewables, Masdar adopts a smart ‘first-mover’ approach, entering markets at an early stage and building scalable platforms. This exciting collaboration with AD Ports Group exemplifies all of those principles. Green hydrogen has enormous potential to decarbonize hard-to-abate sectors and accelerate the journey to net zero. Given more than 80 percent of global trade is transported by sea, partnerships like this are vital to ensure integrated green hydrogen value chains. Working with AD Ports Group, we’ll explore measures to further decarbonize hard-to-abate sectors by encouraging the use of green hydrogen in port operations and as vessel fuels, while facilitating the import and export of hydrogen.”