Masdar has signed an agreement with the Korea Agency for Infrastructure Technology Advancement (KAIA) to explore the development of a range of technology solutions, including hydrogen offerings, smart cities, and electric vehicles (EV).
Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar, and Seung-ki Park, President, KAIA, signed a Memorandum of Understanding (MoU), in a virtual ceremony attended by HE Bok-Hwan Kim, Director General for Korea’s Urban Policy Bureau.
Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar, said; “The United Arab Emirates and the Republic of Korea have a shared objective to advance the development of the hydrogen economy. Masdar is committed to cementing the UAE’s leadership position in green hydrogen, and to spearheading the drive to a net-zero future. We look forward to working closely with the KAIA on initiatives to drive green hydrogen development, and to support the economic diversification of both our nations.”
Masdar and KAIA will work together to support and establish research and development (R&D) strategies for areas of potential collaboration under the MoU. These include the production, storage, transportation and utilization of hydrogen, smart city solutions, building energy management systems (BEMS), and EVs.
Masdar is already working with a range of parties on green hydrogen development. In December, Masdar announced the formation of a strategic alliance with France’s ENGIE to co-develop a UAE-based green hydrogen hub. Masdar also announced last year a collaboration with Abu Dhabi National Oil Company (ADNOC) and bp to explore the development of green hydrogen hubs in the UAE and the UK.
The Republic of Korea is targeting producing 27.9 million tonnes of clean hydrogen by 2050, making it the country’s main energy source, as it looks to drive sustainable economic growth and industrial development. KAIA specializes in land, infrastructure and transportation R&D, and assesses and certifies new technologies.