OMV and Masdar have entered into a binding deal to set up a joint venture (JV) that will develop, finance, and run a 140 MW green hydrogen electrolyzer plant in Bruck an der Leitha, Austria. The facility, among the largest of its kind in Europe, marks a key step in OMV’s plan to cut emissions from its Schwechat refinery and push forward its wider energy transition goals. Construction began in September 2025, with operations slated to start in 2027.
As part of the agreement, OMV will take the lead through its integrated Fuels and Chemicals business, while Masdar brings its global know-how in financing, developing, and operating clean energy projects. OMV, which already operates a 10 MW green hydrogen electrolyzer in Schwechat, will secure the renewable electricity for the plant’s hydrogen production and retain ownership of the hydrogen output. Together, the companies aim to combine OMV’s industrial leadership with Masdar’s clean energy experience to create one of the region’s most advanced hydrogen production hubs.
The partnership also opens the door for future work on green hydrogen, synthetic sustainable aviation fuels (e-SAF), and synthetic chemicals in the UAE as well as Central and Northern Europe. The two companies had already signed a Letter of Intent in April to look into these opportunities together. The joint venture is expected to close in early 2026 once final paperwork, shareholder approval, and regulatory clearances are completed.
The signing ceremony took place at ADIPEC in the presence of H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar; H.E. Dr. Wolfgang Hattmannsdorfer, Austria’s Federal Minister of Economy, Energy and Tourism; Dr. Alfred Stern, Chairman of the Executive Board and CEO of OMV; and Mohamed Jameel Al Ramahi, CEO of Masdar.
H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, stated: “The UAE has a longstanding commitment to working with our partners to accelerate the global energy systems transformation. This joint venture unites Masdar’s two decades of renewable energy leadership with OMV’s industrial capability, paving the way for future commercial opportunities across Europe. Today’s agreement also underscores the deep and growing collaboration between the UAE and Austria in powering growth for the information age.”