The Ministry of Industry and Mineral Resources of Saudi Arabia issued the first industrial license for NEOM Green Hydrogen Company, OXAGON. It is a joint venture of NEOM, ACWA Power as well as Air Products.
It is part of the Kingdom’s efforts in catalyzing the global hydrogen economy, becoming the world’s largest hydrogen producer, and maintaining its role as a key player within the energy sector.
In 2026, the NEOM Green Hydrogen plant will begin producing green hydrogen using 100% renewable energy. It will produce 600 tons of green hydrogen per day, and 1.2 million tons of green ammonia per year. To support decarbonization in the heavy transport sector, green ammonia will be exported.
The plant is expected to produce up to 5 million tons of CO2 each year. The plant will begin operations at OXAGON, in the year 2026. 100% of the hydrogen will be exported to global markets as green ammonia under an exclusive, long-term agreement with the US-based Air Products Co.
The plant will be powered by approximately 4 GW of solar and wind energy and will produce hydrogen using electrolysis 2.2 GW technology.