The Oman Investment Authority has invested in the American company Electric Hydrogen, which specializes in developing and manufacturing electrolyzers using proton exchange membrane technology that is used in producing green hydrogen.
This investment is part of OIA’s series of sustainable investments launched by the authority with the aim of diversifying its investment portfolio and it is in line with Oman’s green hydrogen strategy and its commitment to striving toward achieving global leadership in the transition to clean energy sector.
The electrolyzers developed by Electric Hydrogen produce green hydrogen using renewable energy sources, as green hydrogen is a necessary element for reducing carbon emissions from some vital industrial processes. The transition from fossil fuel-based energy sources to energy based on renewable green hydrogen has been expensive and difficult to implement on a large scale.
Electric Hydrogen’s technology will allow the manufacture and operation of electrolyzers with an operating capacity of up to 100 megawatts, each of which can produce up to 50 tons of green hydrogen per day at a low cost, which will help the company’s customers achieve their goals related to reducing carbon emissions.
Mr. Alwaleed bin Saeed Al Shukaili, Senior Director of Economic Diversification Investments at the Oman Investment Authority, said in a statement that “At a time when the Sultanate of Oman is taking its first steps in its journey to produce green hydrogen, we believe that it is necessary to establish strategic partnerships with partners who have experience and advanced technical capabilities in this field. Our investment in this company reflects our interest in supporting the development of the green hydrogen sector in the Sultanate of Oman.”
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