MUSCAT: The Oman Investment Authority (OIA) has announced an investment in US-based Electric Hydrogen (EH2), which specializes in developing and manufacturing electrolyzers using proton exchange membrane technology used in the production of green hydrogen.
It marks the latest in a series of sustainable investments by the Authority with the aim of diversifying investments in its Future Generations Fund to help advance its green hydrogen strategy, enhance its role in the clean energy sector, and strengthen the hydrogen value chain.
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 tonnes of green hydrogen per day at a low cost, thereby enabling customers to achieve their carbon emission reduction goals.
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.” — ONA
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