Altaaqa, a leading global total utility provider, delivering world-class turnkey solutions across the Kingdom of Saudi Arabia, and AFC Energy, the leading provider of Alkaline Fuel Cell systems for the generation of clean energy, announced that they have signed a Memorandum of Understanding (MoU). With the first round of the Extreme E Championship at Saudi Arabia as its backdrop, this agreement will bring together the two companies’ extensive experience. Which aims to support the transition of the region’s power generation industry to zero-emission solutions using AFC Energy’s hydrogen fuel cell technology.
A Zahid Group company, Altaaqa, has two decades of expertise in generating turnkey power and water solutions in Saudi Arabia and globally. The company owns and runs one of the world’s largest mobile diesel generator rental fleets, with a total capacity of 2 gigawatts (GW). Altaaqa provides temporary and off-grid power solutions to oil & gas, mining, power utilities, data centers, military, manufacturing, construction, and government services sectors.
Based in the UK, AFC Energy delivers scalable alkaline fuel cell systems to provide clean electricity for on and off grid applications. The technology is already being used in electric vehicle chargers and for off-grid decentralized power systems as part of a portfolio strategy to decarbonize electricity needs.
The MoU creates the basis of a long-term partnership that will cover the region, intending to gain market leadership for reliable and safe, “hydrogen-to-power” solutions for different industry segments and applications.
The agreement solidifies Altaaqa´s and Zahid Group’s commitment to driving transition to sustainable fuels by being a leading participant in developing the Kingdom’s hydrogen economy and ecosystem. This commitment further combines the Zahid Group’s tireless efforts with the Kingdom’s Vision 2030 objective of reducing its reliance on fossil fuels. The agreement comes soon after His Royal Highness Crown Prince Muhammad Bin Salman Bin Abdulaziz Al Saud revealed the Saudi Green Initiative and the Green Middle East Initiative that will help achieve global targets in facing climate change. The Saudi Green Initiative is targeting a 60% decrease in the region’s carbon emissions.
The signing ceremony also presented an opportunity to highlight the beneficial role of sport in featuring the global climate emergency. The agreement was signed at Extreme E’s inaugural X Prix – the Desert X Prix – held in AlUla, Saudi Arabia. Extreme E has been designed to exhibit the most crucial climate issues of our generation and showcase technologies that can stimulate global decarbonization efforts.
Mr. Majid T. Zahid, Group President (Energy) at Zahid Group, stated that the agreement signing day indicates the beginning of a new partnership with AFC Energy, an industry leader in delivering clean electricity. The company believes that together they will be a significant player in its Kingdom’s aim of becoming the world’s leading hub in green hydrogen and ammonia production. He further added that Zahid Group is fully aligned with their Kingdom’s strategic vision for the future, and across all their Group’s companies, they are demonstrating the belief in it.
Adam Bond, Chief Executive Officer, AFC Energy plc, stated that AFC Energy is thrilled to be commencing its strategic partnership with Altaaqa. According to him, Altaaqa is a partner of choice to several of the world’s leading industrial and energy companies, as they look to promote industry’s transition to a Net Zero economy in Saudi Arabia and the wider Middle East. He further added that this agreement provides a clear path for the future deployment of their products, directly assisting Altaaqa’s position as a market leader and providing a precise reference point for the rest of the region.
Alejandro Agag, Founder and CEO at Extreme E, stated that he is thrilled that AFC Energy and Altaaga have signed this agreement at their first Extreme E X-Prix. As a sport, Extreme E strives to be a driving force in highlighting sustainable ways to run events, and their AFC Energy hydrogen fuel cell is key to that. He further mentioned that they are thrilled to see this exciting technology being applied to broader world use that will positively affect the industry.
Altaaqa is a leading global total utility provider, delivering world-class turnkey solutions across the Kingdom of Saudi Arabia and well beyond since 2004.
To know more, visit: https://www.altaaqa.com
About AFC Energy
AFC Energy is the leading company that provides Alkaline Fuel Cell systems to generate clean energy, giving the best-in-class performance and lowest operating cost.
To know more, visit: https://www.afcenergy.com