CMMZE announces plans to develop a large-scale green hydrogen production facility in United Arab Emirates. The facility, together with projects in Morrocco and Tunisia, will produce 180,000 tonnes of clean hydrogen per year for export to Europe.
Abu Dhabi, United Arab Emirates - September 26, 2024 —
Sustainable energy solutions provider Compagnie Maritime Monegasque Zero Emission (CMMZE) unveiled ambitious plans to construct a large-scale green hydrogen production facility in United Arab Emirates.
The project, together with facilities in Morrocco and Tunisia, will produce 180,000 tonnes of clean hydrogen per year, primarily for export to the European market. This initiative represents a leap forward in North Africa's transition to renewable energy and positions UAE, Morocco, and Tunisia as major players in the emerging global green hydrogen economy.
The facility in UAE will use state-of-the-art technology powered by solar and wind energy. Meanwhile, in Tunisia, the energy solutions company will develop dedicated renewable energy sites in Nefetia Benguerdane for photovoltaic solar power and El Hamma for wind energy to supply clean electricity for hydrogen production.
Aldo Labia, its founder, stated, "Through this project, we want to improve the energy sector through green hydrogen solutions. We create a sustainable energy source with abundant renewable resources and contribute to North Africa's and Europe's decarbonization efforts."
The annual production of 180,000 tonnes of green hydrogen will require approximately 1.2 million megawatt-hours (MWh) of renewable electricity. To meet this demand, the energy provider plans to install 250 MW of electrolyzer capacity at the port of Zarzis, along with processing and storage facilities.
This initiative aligns with the growing demand for clean energy alternatives in Europe and supports the European Union's ambitious targets for green hydrogen adoption. CMMZE is inspiring energy security and sustainability across both regions by establishing a robust supply chain for green hydrogen from North Africa to Europe.
The three projects will likely create local jobs and stimulate economic growth in Morrocco, Tunisia, and UAE’s renewable energy sector. Additionally, it will contribute to significant carbon dioxide emission reductions, with estimates suggesting the prevention of carbon dioxide emissions annually compared to traditional hydrogen production methods.
The company’s green hydrogen initiative builds upon the company's recent success in launching North Africa's first commercial hydrogen pilot stations. These pilot projects have demonstrated the viability of hydrogen technologies in the region and paved the way for larger-scale implementations.
CMMZE plans to begin construction of the UAE, Zarzis, and Nador facilities in early 2025 and expects the first hydrogen production phase to come online by late 2027. The company is currently discussing long-term offtake agreements with potential European partners to guarantee a stable market for the green hydrogen produced.
This ambitious project represents a milestone in CMMZE's goal to accelerate the global transition to clean energy and establish it as a leader in large-scale green hydrogen production in North Africa.
Notably, the CMMZE founder Labia has made a significant business move by selling his shipping holding to Asian interests for $700 million USD. This transaction marks a notable shift in Labia's business portfolio and potentially signals a strategic realignment of his investments towards more sustainable ventures.
The substantial sum from the sale could provide Labia with significant capital to further invest in CMMZE's green hydrogen initiatives. This move aligns with the growing global focus on renewable energy solutions and could accelerate CMMZE's ambitious plans to produce green hydrogen for the European market.
Divesting from traditional shipping and potentially reinvesting in green hydrogen production, Labia shows a commitment to transitioning towards more environmentally friendly business models. This pivot could position CMMZE as a key player in the green hydrogen space, taking advantage of the capital from the shipping sale to fund large-scale sustainable energy projects.
For more information, visit cmmze.energy
About CMMZE
CMM Zero Emission is a sustainable energy solutions company dedicated to developing green hydrogen projects. It focuses on creating comprehensive value-chain solutions for hydrogen production. The company is making waves in the energy sector by using green hydrogen technology to reduce global emissions and create a more sustainable future. It has a strong presence in North Africa and is expanding operations across the Middle East and Africa.
Source: https://markets.businessinsider.com/news/stocks/cmmze-unveils-plan-to-produce-180kt-of-green-hydrogen-annually-for-european-market-1033799193
Abu Dhabi, United Arab Emirates - September 26, 2024 —
Sustainable energy solutions provider Compagnie Maritime Monegasque Zero Emission (CMMZE) unveiled ambitious plans to construct a large-scale green hydrogen production facility in United Arab Emirates.
The project, together with facilities in Morrocco and Tunisia, will produce 180,000 tonnes of clean hydrogen per year, primarily for export to the European market. This initiative represents a leap forward in North Africa's transition to renewable energy and positions UAE, Morocco, and Tunisia as major players in the emerging global green hydrogen economy.
The facility in UAE will use state-of-the-art technology powered by solar and wind energy. Meanwhile, in Tunisia, the energy solutions company will develop dedicated renewable energy sites in Nefetia Benguerdane for photovoltaic solar power and El Hamma for wind energy to supply clean electricity for hydrogen production.
Aldo Labia, its founder, stated, "Through this project, we want to improve the energy sector through green hydrogen solutions. We create a sustainable energy source with abundant renewable resources and contribute to North Africa's and Europe's decarbonization efforts."
The annual production of 180,000 tonnes of green hydrogen will require approximately 1.2 million megawatt-hours (MWh) of renewable electricity. To meet this demand, the energy provider plans to install 250 MW of electrolyzer capacity at the port of Zarzis, along with processing and storage facilities.
This initiative aligns with the growing demand for clean energy alternatives in Europe and supports the European Union's ambitious targets for green hydrogen adoption. CMMZE is inspiring energy security and sustainability across both regions by establishing a robust supply chain for green hydrogen from North Africa to Europe.
The three projects will likely create local jobs and stimulate economic growth in Morrocco, Tunisia, and UAE’s renewable energy sector. Additionally, it will contribute to significant carbon dioxide emission reductions, with estimates suggesting the prevention of carbon dioxide emissions annually compared to traditional hydrogen production methods.
The company’s green hydrogen initiative builds upon the company's recent success in launching North Africa's first commercial hydrogen pilot stations. These pilot projects have demonstrated the viability of hydrogen technologies in the region and paved the way for larger-scale implementations.
CMMZE plans to begin construction of the UAE, Zarzis, and Nador facilities in early 2025 and expects the first hydrogen production phase to come online by late 2027. The company is currently discussing long-term offtake agreements with potential European partners to guarantee a stable market for the green hydrogen produced.
This ambitious project represents a milestone in CMMZE's goal to accelerate the global transition to clean energy and establish it as a leader in large-scale green hydrogen production in North Africa.
Notably, the CMMZE founder Labia has made a significant business move by selling his shipping holding to Asian interests for $700 million USD. This transaction marks a notable shift in Labia's business portfolio and potentially signals a strategic realignment of his investments towards more sustainable ventures.
The substantial sum from the sale could provide Labia with significant capital to further invest in CMMZE's green hydrogen initiatives. This move aligns with the growing global focus on renewable energy solutions and could accelerate CMMZE's ambitious plans to produce green hydrogen for the European market.
Divesting from traditional shipping and potentially reinvesting in green hydrogen production, Labia shows a commitment to transitioning towards more environmentally friendly business models. This pivot could position CMMZE as a key player in the green hydrogen space, taking advantage of the capital from the shipping sale to fund large-scale sustainable energy projects.
For more information, visit cmmze.energy
About CMMZE
CMM Zero Emission is a sustainable energy solutions company dedicated to developing green hydrogen projects. It focuses on creating comprehensive value-chain solutions for hydrogen production. The company is making waves in the energy sector by using green hydrogen technology to reduce global emissions and create a more sustainable future. It has a strong presence in North Africa and is expanding operations across the Middle East and Africa.
Source: https://markets.businessinsider.com/news/stocks/cmmze-unveils-plan-to-produce-180kt-of-green-hydrogen-annually-for-european-market-1033799193