May 05, 2025 [Renewables Now]- Austrian energy company OMV AG and UAE-based renewables developer Masdar have signed a non-binding letter of intent to collaborate in the production of green hydrogen, synthetic sustainable aviation fuels, and other synthetic chemicals.

The companies will pursue future opportunities in Austria, the UAE and in central and northern Europe, OMV said on Wednesday.

“By leveraging our combined capabilities, Masdar and OMV are looking to produce green hydrogen and derivatives at industrial scale, supporting decarbonization efforts and building the green hydrogen value chain,” Masdar’s chief green hydrogen officer, Mohammad Abdelqader El Ramahi, commented.

The planned partnership is in line with Masdar’s goal to become a leading producer of green hydrogen and its derivatives globally by 2030. The company aims to develop and invest in commercial projects and build scalable platforms in key markets around the world.

In parallel, OMV has set the goal of becoming net zero by 2050. The production of green hydrogen for use in its refineries plays a key role in achieving the target, the company said.

Earlier on Wednesday, OMV also revealed the launch of a 10-MW green hydrogen production plant at the Schwechat refinery near Vienna.

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