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Abu Dhabi Department of Economic Development and HYCAP Group to develop the production of green hydrogen

The UAE’s National Hydrogen Strategy aims to make it a top 10 producer of green hydrogen by 2031 with an output target of 1.4 million tonnes per year. 

As such, the Abu Dhabi Department of Economic Development (ADDED) and HYCAP Group, the net zero asset management company, have signed an agreement to develop the production, storage, and transport of green hydrogen, spearheading the transition to net zero in line with the United Arab Emirates (UAE) Net Zero Strategy 2050 and National Hydrogen Strategy. 

Arafat Al Yafei, Executive Director of the Industrial Development Bureau (IDB), said: “We are delighted to have signed this agreement with HYCAP, which is an important step along the road to make AD most competitive industrial hub in region. This is part of the partnerships we are building with leading global powerhouses to enable our manufacturing sector to achieve the Abu Dhabi Industrial Strategy’s (ADIS) goals. 

Jo Bamford, Chairman and Founding Partner of HYCAP Group, said: “We opened our offices in the UAE to place HYCAP Group at the centre of the world’s emerging green hydrogen hubs. The UAE is leading the transition to clean, renewable energy and this agreement with Abu Dhabi Department of Economic Development is a demonstrable example of the commitment in the region to grasp the opportunity this presents.”

Photo of HYCAP Group

Press release

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