Saudi Ministry of Industry issues 1st license in Oxagon to NEOM ‎Green Hydrogen Company

The Saudi Ministry of Industry and Mineral Resources issued the first license in Oxagon to the NEOM green hydrogen company, which is a joint venture between NEOM, ACWA Power and Air Products. The Kingdom aims to stimulate the global hydrogen economy through its goals to be among the hydrogen-producing countries in the world, while maintaining its position as a major player in the energy sector, and part of NEOM’s efforts and its ambitious vision to develop sustainable and innovative solutions. To face major global challenges, foremost of which is climate change. The NEOM Green Hydrogen Company will also be the largest large-scale green hydrogen production company in the world and will be headquartered in Oxagon, the home of advanced and clean industries in NEOM, with its automated and integrated supply and logistics network.

It is expected that the NEOM green hydrogen plant will start producing green hydrogen from 100% renewable energy sources in 2026, with a production of up to 1.2 million tons of green ammonia annually, equivalent to 600 tons of green hydrogen per day, to support green transportation in global markets, which aims to decarbonize heavy transport sector and reduce carbon dioxide emissions.

It is estimated that the plant will remove up to 5 million tons of carbon dioxide annually, and with the operation of the plant in Oxagon in 2026 AD; 100% of the green hydrogen it produces will be available for global export, in the form of green ammonia through an exclusive long-term purchase agreement with Air Products.