A Shared Vision for Energy Security and Innovation

Implementing Commercially Viable Renewable Energy

• In September 2024, UAE clean energy company Masdar announced the closing of its acquisition of a 50% stake in Terra-Gen, one of the largest independent renewable power producers in the US. This deal expands Masdar’s US renewables portfolio to nearly 2 GW of projects across California, Texas, New Mexico and Nebraska.

Deploying Low-Carbon Energies

• In September 2024, ADNOC announced a 35% stake in ExxonMobil’s proposed low-carbon hydrogen and ammonia production facility in Baytown, Texas. The facility aims to produce up to approximately 900,000 tons of low-carbon ammonia per year, enabling the transition to cleaner fuels in hard-to-abate sectors.  
• In 2023, ADNOC acquired an 11.7% stake in NextDecade’s Rio Grande LNG project, to produce less carbon-intensive LNG.  
• In August 2023, ADNOC and Occidental signed a strategic collaboration agreement to evaluate potential investment opportunities in carbon dioxide capture and storage hubs in the UAE and US. With the help of PACE, both companies will work to develop carbon management platforms to accelerate net zero goals.

Investing in Advanced Technologies

• Carbon recycling company LanzaTech Global and Abu Dhabi Waste Management Company Tadweer are collaborating on a Waste-to-Sustainable Aviation Fuel (SAF) feasibility study to scale SAF production from municipal and commercial solid waste.
• The Emirates Nuclear Energy Corporation (ENEC) and US SMR developer X-energy are partnering on the advancement of nuclear energy technologies.
• Plynth Energy, an Abu Dhabi government-owned early-stage fund, invested in the US company Zap Energy, which plans to build scalable and commercially-viable fusion energy.