
OMV AG and Abu Dhabi Future Energy Co. PJSC (Masdar) have signed a letter of intent to collaborate on producing renewable power-generated hydrogen and derivatives.
The partnership would involve producing synthetic aviation fuel and other synthetic fuels, as well as synthetic chemicals, in Austria, the United Arab Emirates and northern and central Europe.
“By leveraging our combined capabilities, Masdar and OMV are looking to produce green hydrogen and derivatives at industrial scale, supporting decarbonization efforts and building the green hydrogen value chain”, Masdar chief green hydrogen officer Mohammad Abdelqader El Ramahi said in a joint statement Wednesday.
Martijn van Koten, OMV executive vice president of fuels, feedstock and chemicals, commented, “Our exploration of new opportunities with Masdar in green hydrogen and sustainable synthetic fuels is aiming to deliver concrete business opportunities, as well as to provide a bold step toward reshaping industries and accelerating decarbonization. Together, we aim to drive innovation and set new standards for sustainable solutions both in Austria and the UAE”.
State-owned Masdar has set an aim to reach production of 1 million metric tons of renewable hydrogen and derivatives a year by 2030.
OMV, partly owned by the Austrian government, wants to fuel its refineries with green electrolytic hydrogen to help achieve its goal of Scope 1-3 net-zero emissions by 2050. Green electrolytic hydrogen is derived from water using a renewable energy-powered process.
Also on Wednesday OMV announced the start of production at its first commercial-scale green hydrogen facility, built at home with an annual capacity of 1,500 metric tons.
The plant, located at OMV’s Schwechat refinery, uses a 10-megawatt PEM (polymer electrolyte membrane) electrolyzer powered by hydro, solar and wind energy. The process avoids up to 15,000 metric tons of carbon dioxide (CO2) emissions a year, equivalent to the CO2 consumption of 2,000 persons per year based on a European Union average, according to OMV.
Output will be used to decarbonize the refinery and produce more sustainable fuels and chemicals including sustainable aviation fuel and renewable diesel.
“With the start-up of Austria’s largest electrolysis plant, we are re-inventing how essentials we use in everyday life are produced sustainably”, Van Koten said.
“By building robust local production and supply chains for green hydrogen in Europe, OMV is not only advancing climate goals but also safeguarding industrial progress”, the OMV board member added.
“The expertise gained from this initiative will act as a springboard for pioneering projects, laying the foundation for a cleaner, more resilient tomorrow”.
“The plant is certified according to the Renewable Energy Directive (EU) 2018/2001 (RED II) for producing RFNBOs (renewable fuel of non-biological origin)”, the company said.
The project had an investment of about EUR 25 million ($28.31 million), with support from the government’s Climate and Energy Fund.
In other news OMV reported EUR 288 million in net profit for the first quarter (Q1), down 57 percent from Q1 2024; EUR 143 million in net income attributable to parent company shareholders, down 70 percent; and EUR 0.44 in earnings per share.
Sales revenue from continuing operations was “stable” at EUR 6.22 billion compared to EUR 6.26 billion for the corresponding three-month period in the prior year, OMV said.
Fuel and feedstock sales generated EUR 3.82 billion, down year-on-year. Energy sales totaled EUR 2.22 billion, also down by prior-year comparison. Chemical sales registered EUR 171 million, up year-over-year.
Cash flow from operating activities came at EUR 1.34 billion. Free cash flow landed at EUR 317 million.
“OMV has had a profitable start to 2025 amid challenging market and geopolitical conditions”, said chair and chief executive Afred Stern.
OMV exited the January-March 2025 period with EUR 12.68 billion in current assets including EUR 5.68 billion in cash and cash equivalents. Current liabilities stood at EUR 7.74 billion.
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