Misr Fertilizers Production Company’s (MOPCO) board has approved the formation of a new green Hydrogen Company for the production of green hydrogen, in association with the Egyptian Petrochemicals Holding Company (ECHEM) and Norway’s Scatec.
This was disclosed by MOPCO, recently. ’The new company will use produced green hydrogen in the production of green ammonia,’ the statement from the firm informed. The green hydrogen will be employed for the purpose of production of green ammonia.
The ownership of the yet-to-be-established company is currently being determined, and will be disclosed once decided.
Egypt based MOPCO deals in the production, marketing, wholesale, and distribution of fertilizers and petrochemical products. The company’s product portfolio includes, ammonia, urea, and nitrogen.
Egyptian Petrochemicals Holding Company (ECHEM), is a specialized body of the Egyptian Ministry of Petroleum.
Scatec is a renewable energy solutions firm, that helps provide access to clean energy in emerging markets.
The initiative is an important one that will help Egypt advance its energy landscape. The country is giving major push to Green Hydrogen and even offers tax credits as an incentive on Green Hydrogen Projects.