Saudi Patent for Clean Hydrogen Production at Reduced Cost

Saudi Arabia aims to become one of the largest exporters of clean hydrogen in the world (Asharq Al-Awsat)
Saudi Arabia aims to become one of the largest exporters of clean hydrogen in the world (Asharq Al-Awsat)
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Saudi Patent for Clean Hydrogen Production at Reduced Cost

Saudi Arabia aims to become one of the largest exporters of clean hydrogen in the world (Asharq Al-Awsat)
Saudi Arabia aims to become one of the largest exporters of clean hydrogen in the world (Asharq Al-Awsat)

A Saudi researcher has achieved a global patent in the clean hydrogen production sector, contributing to a significant reduction in production costs. This accomplishment positions Saudi Arabia’s hydrogen production as the most efficient and cost-effective on a global scale.

According to information obtained by Asharq Al-Awsat, the patent was granted to Dr. Abdulrahman Abdulaal.

He holds the position of Chief Executive Director for Business Development and Head of Green Hydrogen Project Development at ACWA Power.

He is also an expert in open innovation at the United States Patent and Trademark Office. The exact percentage of the cost reduction has not been disclosed due to the sensitivity of the information, as described.

Abdulaal’s invention in the realm of clean hydrogen and water desalination stands as a testament to innovative approaches to clean hydrogen production.

This innovation promises to drive down carbon emissions, harness and mitigate their impact, curb greenhouse gas effects, and preserve the environment.

The invention also aims to enhance Saudi Arabia’s global leadership in the sector, offering substantial economic viability and cost-efficiency while maximizing the utilization of available resources.

This patent arrives at a time when Crown Prince Mohammed bin Salman had previously affirmed Saudi Arabia’s aspiration to become one of the largest sources of clean hydrogen globally. This aligns with the Kingdom’s commitment to achieving carbon neutrality by 2060.

In a personal discussion, Abdulaal affirmed that securing the patent for clean hydrogen, which positions Saudi Arabia as a paragon of efficiency and cost-effectiveness, stems from the nation’s extensive capabilities in both traditional and renewable energy sectors.

He emphasized that this invention is part of his contribution towards realizing the objectives of Vision 2030, elevating the knowledge-based and innovation-driven economy, and bolstering Saudi Arabia’s global prominence in inventions, intellectual property, and innovations within the clean hydrogen value chains.

This initiative aims to foster a sustainable economy in the hydrogen industry, aligning it locally and establishing it as an exportable economic and intellectual asset worldwide.



Egypt's Net Foreign Assets Jump in January

A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)
A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)
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Egypt's Net Foreign Assets Jump in January

A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)
A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)

Egypt's net foreign assets (NFAs) jumped by $2.74 billion in January, boosted apparently by the sale of $2 billion in dollar-denominated bonds, central bank data showed.

NFAs climbed to the equivalent of $8.70 billion from $5.96 billion at the end of December, according to Reuters calculations based on the official central bank currency rates. The increase followed three months of decline late last year, Reuters said.

Egypt completed the sale of $2 billion in international bonds on January 29 in its first dollar-denominated international bond issuance in four years.

Egypt had been using NFAs, which include foreign assets at both the central bank and commercial banks, to help to prop up its currency since as long ago as September 2021. NFAs turned negative in February 2022 and only returned to positive territory in May last year.

Egypt needed to pay dollars in December as Egyptian pound treasury bills held by foreign investors matured and nearly $1 billion in IMF loan repayments and payments for natural gas imports came due, bankers, brokers and analysts said.

Foreign assets increased in January at both the central bank and commercial banks, but foreign liabilities rose at both as well.