CMMZE Announces Ambitious Green Hydrogen Production Plan for European Market
EQS Newswire / 15/11/2024
Abu Dhabi, UAE - November 15, 2024 - Compagnie Maritime Monegasque Zero Emission (CMMZE) has revealed plans for a large-scale green hydrogen production initiative. The project aims to produce 180,000 tonnes of clean hydrogen annually, primarily for export to the European market.
This includes the construction of a major facility in the United Arab Emirates, complemented by additional production sites in Morocco and Tunisia. These facilities will harness solar and wind energy to power electrolysis technology, converting water into hydrogen without carbon emissions.
The company will develop dedicated renewable energy sites in Nefetia Benguerdane for solar power and El Hamma for wind energy in Tunisia. Furthermore, it plans to install 250 megawatts (MW) of electrolyzer capacity at the port of Zarzis, along with processing and storage facilities.
Aldo Labia, its founder, stated, "This project represents our move toward sustainable energy solutions in North Africa and Europe. We are driven to contribute to decarbonization efforts across both regions using abundant renewable resources."
The annual production target of 180,000 tonnes of green hydrogen will require approximately 1.2 million megawatt-hours (MWh) of renewable electricity. This initiative aligns with the growing demand for clean energy alternatives in Europe and supports the European Union's targets for renewable energy adoption.
Additionally, the project is expected to create local jobs and stimulate economic growth in the renewable energy sectors of the UAE, Morocco, and Tunisia. It will also reduce carbon dioxide emissions compared to traditional hydrogen production methods.
"We will begin constructing the facilities in early 2025, with the first phase of hydrogen production expected to come online by late 2027," Labia shares. CMMZE is currently discussing long-term offtake agreements with potential European partners to guarantee a stable market for the hydrogen produced.
This project builds upon CMMZE's recent success in launching North Africa's first commercial hydrogen pilot stations. These pilot projects have proven the viability of hydrogen technologies in the region and paved the way for larger-scale implementations.
In a related development, Aldo Labia recently sold his shipping holding to Asian interests for $700 million. This transaction marks a shift in Labia's business portfolio and could provide additional capital to support the hydrogen initiatives.
The company has also been actively forming strategic partnerships to advance its projects. These include a joint venture with Ekofin to develop a 5MW waste-to-energy hydrogen pilot station in Slovakia, acquiring a 5MW hydrogen pilot station for Abu Dhabi, and a consortium with Das Solar to develop green hydrogen projects.
The global focus on renewable energy solutions continues to grow. CMMZE's large-scale green hydrogen production projects position the company as a key player in the transition towards sustainable energy.
The success of this project could have far-reaching implications for the market. It could accelerate the adoption of clean energy solutions and support global efforts to reduce carbon emissions.
Compagnie Maritime Monegasque Zero Emission (CMMZE) is a sustainable energy solutions company dedicated to developing green hydrogen projects. Founded by Aldo Labia, CMMZE focuses on creating value-chain solutions for hydrogen production to reduce global emissions and promote a sustainable future.
The company has established a strong presence in North Africa and is expanding its operations across the Middle East and Africa. CMMZE's initiatives include large-scale production facilities, pilot projects, and partnerships with industry leaders.