US-headquartered Advent Technologies has signed a Memorandum of Understanding with Riyadh-based Hydrogen Systems “to provide integrated hydrogen solutions and value-added support to industrial and renewable energy markets in the Middle East,” Zawya reports.
Advent Technologies develops, manufactures, and assembles complete fuel cell systems and supplies critical components for fuel cells in the renewable energy sector.
The company has said that its fuel cells can operate under extreme temperatures, humidity, and air quality and are multi-fuel capable, processing natural gas, methanol, renewable fuels and biofuels, to eliminate the need for complex hydrogen infrastructures.
Meanwhile, Saudi Arabia wants the EU to accept long-term contracts in green hydrogen investment opportunities, according to the European Council President, Arab News reports.
“What they want to know is if we are ready to accept long-term contracts,” Michel said.
His comments came as he called on the EU to go beyond its current plans to tackle the energy crisis to make sure people can afford their energy bills.
“It’s good proposals, but more will be needed,” Michel told reporters, referring to the EU’s plans to bring down energy prices for the bloc’s citizens and businesses.
“On prices, there is a proposal on the table… it is good but is it enough? I don’t think so, I think it’s important to accelerate in terms of the electricity market,” he said, while highlighting the need to rework pricing mechanisms.
