Muscat: The Oman Investment Authority (OIA) announced its investment in the US company Electric Hydrogen, which specializes in developing and manufacturing electrolyzers using proton exchange membrane technology that is used in the production of green hydrogen.
This comes within the series of sustainable investments launched by the agency with the aim of diversifying the investments of the Generations portfolio in line with its green hydrogen strategy, and its commitment to striving towards achieving global leadership in the global transition to clean energy sector, and to contribute a pivotal role in the value chain associated with hydrogen.
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.
Alwaleed bin Saeed Al Shukaili, Senior Director of Economic Diversification Investments at the Oman Investment Authority, said: “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 is a reflection of our interest in supporting the development of the green hydrogen sector in the Sultanate of Oman.”
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