UAE examines hydrogen as energy source

A sovereign investment fund for the Emirati government said March 22 it was taking preliminary steps to examine the advancement of hydrogen as an energy source.

The fund, Mubadala Investment Co, said it had signed a memorandum of understanding with Italian energy infrastructure company Snam to look into possible joint investment and development initiatives on hydrogen.

“This signing with Snam is an extension of our joint efforts to develop a hydrogen economy for the UAE, and we are committed to advancing the role hydrogen will play to meet future energy demand globally,” Musabbeh al-Kaabi, the CEO of UAE investments at Mabadala, said.

Hydrogen can be produced from natural gas, nuclear power and biomass. When consumed in a fuel cell, it would produce only water as a byproduct.

The investment fund recently set up the Abu Dhabi Hydrogen Alliance, which includes partners such as the Abu Dhabi National Oil Co and Abu Dhabi holding company ADQ, to develop a roadmap for the deployment of hydrogen across the utilities and transportation sectors in the UAE. Last year, it joined the investor group of the Hydrogen Council.

Mubadala boasts a $232bn portfolio across six continents.