FRANKFURT (Reuters) - Thyssenkrupp (ETR:TKAG) and Abu Dhabi National Oil Co (ADNOC) have signed a memorandum of understanding (MoU) to cooperate on technology that allows the extraction of hydrogen from ammonia on an industrial scale.
Under the agreement, Thyssenkrupp's Uhde unit, which designs and builds fertiliser, petrochemicals and coking plants, will provide ammonia cracking technology that is already in use in over 130 chemicals plants globally.
"The partnership with ADNOC is of great importance. There currently does not exist a cracker of this size," Thyssenkrupp Uhde Chief Executive Cord Landsmann told Reuters.
As part of the cooperation, the companies will also explore options for the supply and shipment of ammonia produced via renewable sources from the United Arab Emirates to large ammonia crackling sites worldwide.
"We are committed to strengthening our position as a reliable supplier of lower carbon-intensive energy, creating new revenue streams and growing the global market for hydrogen," ADNOC executive Musabbeh Al Kaabi said in a statement.