The new mega renewable energy production project is soon to become a reality.
FREMONT, CA: Air Products and ACWA Power, together with NEOM, sign an agreement to kickstart the world's largest renewable energy project. This agreement features the collaborative efforts towards green hydrogen production and supply. The venture encircles an ammonia production plant that is based on green hydrogen. This project is worth more than $5 billion as it caters to the renewable energy requirements all across the world.
The Green Hydrogen Project at a global scale is expected to supply Carbon-Free Hydrogen of around 650 Tons Per Day. The produced energy will be majorly used for transportation purposes across the world. The facility also helps in reducing the carbon footprint as it is accounted to save the world from tree Million Tons of carbon dioxide Per Year.
The world-scale green hydrogen-based ammonia production facility is powered by renewable energy. The three companies, Air Products, and ACWA Power and NEOM, hold an equal share of the profit earned through the best in class ammonia production plant. The green hydrogen facility will be deployed physically on the campus of NEOM.
NEOM is a laboratory that works with a vision to not only accelerate the idea of innovation but also aim to bring the future to the present. NEOM is situated in northwest Saudi Arabia on the Red Sea. The laboratory works on the lines of promoting entrepreneurship, restocking environmental conservation, and found a brilliant culture of life.
NEOM is much more than just a typical laboratory. it includes towns and cities, ports and enterprise zones, research centers, sports and entertainment venues, and tourist destinations. NEOM serves as a center for not just innovation and practical learning but incubation for first-generation entrepreneurs, experienced business leaders, and other entities such as companies that look to research and commercialize their results.