Maersk and Egyptian authorities signed a Memorandum of Understanding (MoU) to explore the establishment of large-scale green fuel production in Egypt, in an effort to further accelerate the supply of green fuels and the global transformation to net-zero shipping.
The parties will be conducting a feasibility study before the end of 2022 to examine Egypt-based hydrogen and green marine fuel production, powered by renewable energy with Maersk.
Maersk will also join forces with the General Authority for the Suez Canal Economic Zone (SCZone), the Egyptian New and Renewable Energy Authority (NREA), the Egyptian Electricity Transmission Company (EETC), and the Sovereign Fund of Egypt for Investment and Development (TSFE).