Air Products, ACWA Power, NEOM Ink Deal For $5 Bln Ammonia Production Facility

(RTTNews) - Air Products, Inc. (APD), in conjunction with ACWA Power and NEOM, announced Tuesday the signing of an agreement for a $5 billion world-scale green hydrogen-based ammonia production facility powered by renewable energy. The project is scheduled to be onstream in 2025.

The world's largest Green Hydrogen project will supply 650 tons per day of carbon-free hydrogen for transportation globally and save the world three million tons per year of CO2. It will include the innovative integration of over four gigawatts of renewable power from solar, wind and storage.

The project, which will be equally owned by the three partners, will be sited in NEOM, a new model for sustainable living located in the north west corner of the Kingdom of Saudi Arabia, and will produce green ammonia for export to global markets.

The joint venture project is the first partnership for NEOM with leading international and national partners in the renewable energy field and it will be a cornerstone for its strategy to become a major player in the global hydrogen market.

The project will produce 650 tons per day of hydrogen by electrolysis using thyssenkrupp technology, nitrogen by air separation using Air Products technology, and 1.2 million tons per year of green ammonia using Haldor Topsoe technology.

Air Products will be the exclusive off-taker of the green ammonia and intends to transport it around the world to be dissociated to produce green hydrogen for the transportation market.