To uncover mutual opportunities to accelerate the development of the respective clean hydrogen markets of the UAE and the UK. Its research will engage business leaders, industry associations, policymakers, innovators, and academics across both countries. As the UAE and UK look to deepen their trading relationship and spur investment and innovation in low-carbon technology, it is critical to create spaces for dialogue and the exchange of ideas that lead to real practical action. This will examine opportunities in the green hydrogen space between the two countries, with scalable suggestions for collaborations and partnerships. It will map innovation priorities, profile hydrogen companies, and look at how policy and regulatory collaboration between the UAE and UK can facilitate trade, encourage foreign direct investment, and guarantee the low carbon credentials of hydrogen.
HSBC is committed to helping lead the transition to net zero and this research will help improve the understanding of how hydrogen’s economic and environmental benefits can be built into the low carbon journeys of the UAE and UK. As part of the agreement, the UAE has committed to investing ?10bn (US$13bn) across three sectors: technology, infrastructure, and energy transition, as well as building on the existing programme of life sciences investment. ADNOC, BP and Masdar announced they are expanding the UAE-UK New Energy Partnership to explore development of clean hydrogen hubs in both the UAE and UK at an initial scale of at least 2 gigawatts (GW), comprising 1 GW in the UAE and 1 GW in the UK. Dubai Electricity and Water Authority (DEWA) inaugurated the first solar-driven green hydrogen production facility in the Middle East and North Africa (MENA) region in collaboration with Expo 2020 Dubai and Siemens Energy, with the aim of demonstrating the production of green hydrogen from solar power, storage and re-electrification.