• Brent Crude$114.00 -0.16%
  • Natural Gas$4.50 -10.23%
  • Gasoline$3.25 -0.81%
  • Heating Oil$3.40 -0.33%
  • Gold$1976.01 +0.49%
  • Silver$25.88 +0.51%
  • Copper$4.60 +0.38%
  • OPEC$128.50 -0.47%
  • WTI Crude$110.00 -0.14%

Altaaqa and AFC Energy join forces to sign the Hydrogen MoU
Renewables | 06 April 2021

Altaaqa and AFC Energy signed a Memorandum of Understanding (MoU) with the first round of the Extreme E Championship as its backdrop. This is going to unite the two companies’ extensive experience to support the transition of the region’s power generation industry to zero-emission solutions utilizing AFC Energy's hydrogen fuel cell technology.

Altaaqa is a company owned by the Zahid Group and has twenty years of experience in generating turnkey force and water solutions in the Kingdom of Saudi Arabia and worldwide. It owns and operates one of the world's biggest mobile diesel generator rental fleets, which has a total capacity of 2 GW (gigawatts). The company also provides temporary and off-grid power solutions for oil and gas, power utilities, mining, military, manufacturing, data centers, construction, and government services sectors.

The UK-based company, AFC Energy delivers scalable alkaline fuel cell systems in order to provide clean electricity for on and off-grid applications. The technology is as of now being deployed in electric vehicle chargers and for off-grid decentralized power systems as a feature of a portfolio approach to the decarbonization of electricity needs.

The MoU forms the premise of a long-term association which will cover the region, to acquire market leadership for dependable and safe, hydrogen-to-power solutions for different industry segments and applications.

This agreement sets Altaaqa's and Zahid Group's commitment to lead the way in the transition to sustainable fuels by being the leading member in the improvement of the Kingdom's hydrogen economy and ecosystem. This commitment further aligns the Zahid Group's enthusiastic endeavors with the Kingdom's Vision 2030 goal of lessening its dependence on fossil fuels. The agreement comes soon after His Royal Highness Crown Prince Muhammad Bin Salman Bin Abdulaziz Al Saud divulged the Saudi Green Initiative and the Green Middle East Initiative that will altogether add to accomplishing worldwide targets in confronting climate change. The Saudi Green Initiative is focusing on a 60% decrease in the region's fossil fuel emissions.

The signing ceremony likewise gave an opportunity to feature the beneficial role that sport can play in highlighting the global climate emergency. The agreement was signed at Extreme E’s inaugural X Prix, the Desert X Prix, held in AlUla, Saudi Arabia. Extreme E has been intended to feature the main environmental issues of the current generation and to showcase technologies that can speed up worldwide decarbonization efforts.


You Can Chat or Close the window



This feature provides information about the activities on your EEXCOM account.

Recent activities:

Access Type (Browser, mobile, etc.)LocationIPDate & Time