Green hydrogen firm Smartenergy has obtained a commercial licence from the Registration Authority of Abu Dhabi Global Market (ADGM) and officially opened its new office in the financial hub of Abu Dhabi on Al Maryah Island.
This step means the Swiss company gains access to new global financial markets, enabling it to further scale its renewable energy investment strategy.
With green hydrogen currently representing a small fraction of total hydrogen production, there’s a pressing need for substantial investments in renewable infrastructure and innovative solutions for hard to abate industries as well as the aviation and maritime sectors, the company said.
Chief executive and executive chairman of Smartenergy Horst H Mahmoudi said: “Our venture into the UAE is a strategic decision to place Smartenergy at the nexus of the world’s emerging new energy hubs.
“Under its visionary leadership, the UAE is spearheading the worldwide push towards clean and renewable energy. We are committed to supporting these initiatives by catalysing green molecule markets.”