• ​​​​Initiative has significant potential to enable the reduction of CO2-emissions in road freight transport in Europe.
  • Agreement supports UAE’s ambition to become a leading producer and supplier in the low-carbon hydrogen market by 2031, and European Green Deal emission reduction targets.

Abu Dhabi (UAE), Leinfelden-Echterdingen (Germany): bu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, and Daimler Truck Holding AG (“Daimler Truck”), one of the world’s leading commercial vehicle manufacturers, have signed a Memorandum of Understanding (MoU) to explore the feasibility of liquid green hydrogen exports from Abu Dhabi (UAE) to Europe by 2030.

The MoU was signed in Abu Dhabi by Fawaz Al Muharrami, Executive Director of Clean Energy and Deputy COO at Masdar and Martin Daum, Chairman of the Board of Management and CEO of Daimler Truck.  The collaboration between the two pioneering companies with complementary roles represents a significant advancement in ongoing efforts to tackle CO2-emissions in road freight transport.

Mohamed Jameel Al Ramahi, Masdar CEO said: “Masdar’s ambition is to be one of the leading players in the development of green hydrogen globally and we believe that transportation is one of the most strategic markets for green hydrogen. This agreement has the potential to enable a significant reduction of CO2-emissions in road freight transport in Europe, supports the UAE’s ambition to become a leader in the low-carbon hydrogen market by 2031 and aligns with our ’smart-early-mover’ approach to deliver projects with strategic partners across the world.”

Martin Daum, Chairman of the Board of Management and CEO of Daimler Truck: “We at Daimler Truck aim to lead sustainable transportation. In order to decarbonize commercial vehicles, it is absolutely crucial to make green energy globally available. Our initiative with Masdar marks an initial step for us to enable the supply of liquid green hydrogen in Europe.”

The UAE plans to establish itself as a leading and reliable producer and supplier of low carbon hydrogen by 2031.

As the UAE’s clean energy powerhouse and one of the fastest growing renewable companies in the world, Masdar is at the vanguard of advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges.

Established in 2006, Masdar has developed projects in more than 40 countries with a total electricity generation capacity of more than 20GW (Gigawatt). It has invested, or committed to invest, in worldwide projects with a combined value of more than US$30 billion with ambitious growth plans to reach 100GW by 2030.

Daimler Truck is clearly committed to the Paris Climate Agreement and to lead sustainable transportation. The company is planning to make its entire range of trucks and buses CO2-neutral in driving operation across its global core markets (Europe, U.S., Japan) by 2039.

To decarbonize transportation, Daimler Truck is pursuing a dual-track strategy with hydrogen- and battery-powered vehicles. In a demonstration of the feasibility of using liquid hydrogen in road transportation, the company’s prototype Mercedes-Benz GenH2 Truck recently completed a trip of 1,047 kilometers across Germany with one fill of liquid hydrogen under real-life conditions. Daimler Truck is building a customer-trial fleet of Mercedes-Benz GenH2 Trucks which are expected to be deployed in mid-2024.

Contacts:
Masdar:
press@masdar.ae
Further information on Masdar is available at: www.masdar.ae
Daimler Truck:
Joerg Howe, joerg.howe@daimlertruck.com 
Thomas Hoevermann, thomas.hoevermann@daimlertruck.com 
Further information on Daimler Truck is available at: media.daimlertruck.com and daimlertruck.com

About Masdar

Abu Dhabi Future Energy Company (Masdar) is the UAE’s clean energy champion and one of the fastest growing companies in the world, advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges. Established in 2006, Masdar has developed projects in over 40 countries, helping them to achieve their clean energy objectives and advance sustainable development. Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala), and Abu Dhabi National Energy Company (TAQA), and under this ownership the company is targeting a renewable energy portfolio capacity of at least 100 gigawatts (GW) by 2030. and an annual green hydrogen production capacity of up to 1 million tons by the same year.

About Daimler Truck

Daimler Truck Holding AG ("Daimler Truck") is one of the world's largest commercial vehicle manufacturers, with over 40 main locations and more than 100,000 employees around the globe. The founders of Daimler Truck invented the modern transportation industry with their trucks and buses a good 125 years ago. Unchanged to this day, the Company's aspirations are dedicated to one purpose: Daimler Truck works for all who keep the world moving. Its customers enable people to be mobile and get goods to their destinations reliably, on time, and safely. Daimler Truck provides the technologies, products, and services for them to do so. This also applies to the transformation to CO2-neutral driving. The Company is striving to make sustainable transport a success, with profound technological knowledge and a clear view of its customers' needs. Daimler Truck's business activities are structured in five reporting segments: Trucks North America (TN) with the truck brands Freightliner and Western Star and the school bus brand Thomas Built Buses. Trucks Asia (TA) with the FUSO, BharatBenz and RIZON commercial vehicle brands. Mercedes-Benz (MB) with the truck brand of the same name. Daimler Buses (DB) with the Mercedes-Benz and Setra bus brands. Daimler Truck's Financial Services business (DTFS) constitutes the fifth segment, the product range in the truck segments includes light, medium and heavy trucks for long-distance, distribution and construction traffic and special-purpose vehicles used in the municipal and vocational sector. The product range of the bus segment includes city buses, school buses and intercity buses, coaches and bus chassis. In addition to the sale of new and used commercial vehicles, the Company also offers aftersales services and connectivity solutions.

Forward-looking statements:

This document contains forward-looking statements that reflect our current views about future events. The words “aim”, “ambition”, “anticipate”, “assume”, “believe”, “estimate”, “expect”, “intend”, “may”,” can”, “could”, “plan”, “project”, “should” and similar expressions are used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including an adverse development of global economic conditions, in particular a decline of demand in our most important markets; a deterioration of our refinancing possibilities on the credit and financial markets; events of force majeure including natural disasters, pandemics, acts of terrorism, political unrest, armed conflicts, industrial accidents and their effects on our sales, purchasing, production or financial services activities; changes in currency exchange rates, customs and foreign trade provisions; a shift in consumer preferences; a possible lack of acceptance of our products or services which limits our ability to achieve prices and adequately utilize our production capacities; price increases for fuel or raw materials; disruption of production due to shortages of materials, labor strikes or supplier insolvencies; a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization measures; the business outlook for companies in which we hold a significant equity interest; the successful implementation of strategic cooperations and joint ventures; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of pending government investigations or of investigations requested by governments and the conclusion of pending or threatened future legal proceedings; and other risks and uncertainties, some of which are described under the heading “Risk and Opportunity Report” in the current Annual Report. If any of these risks and uncertainties materializes, or if the assumptions underlying any of our forward-looking statements prove to be incorrect, the actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward-looking statements since they are based solely on the circumstances at the date of publication.

This material is distributed by Daniel J. Edelman, Inc. on behalf of Masdar. Additional information is available at the Department of Justice, Washington, DC.