NEOM Green Hydrogen Company

What NEOM Green Hydrogen Company does

NEOM Green Hydrogen Company (NGHC) is a Saudi-registered joint venture established in 2021 between NEOM, ACWA Power, and Air Products to develop the world's largest green hydrogen production facility at Oxagon in NEOM, Saudi Arabia. The company converts renewable power into green hydrogen via approximately 2.2 GW of electrolyzers, then into green ammonia for export. Its primary products are green hydrogen at a planned capacity of 600 tonnes per day and green ammonia at approximately 1.2 million tonnes per year, all of which is committed under a 30-year exclusive offtake agreement with Air Products, with Yara finalizing a parallel marketing and distribution arrangement for fertilizer-market customers in Europe and globally.

The facility is powered by approximately 4 GW of combined solar and wind generation, including 257 wind turbines and dedicated solar farm infrastructure, giving NGHC access to some of the world's lowest renewable electricity costs (Najran solar at 1.09 US cents/kWh and Dwadmi wind at 1.33 US cents/kWh). Project financing closed in 2024 at $8.4 billion, comprising a $6.1 billion non-recourse loan facility and equity from the three JV partners. Construction reached approximately 90% completion by early 2026, with renewable power generation targeted to come online by mid-2026 and first green ammonia production expected in 2027.

Commercially, NGHC operates an enterprise sales-led model with no direct customer interface: revenue mechanics are entirely tied to long-term B2B offtake contracts with industrial counterparties (Air Products directly, with Yara as a downstream fertilizer-industry channel), targeting industrial users, chemical producers, and fertilizer manufacturers seeking decarbonized feedstock for hard-to-abate processes. The company does not publicly disclose pricing. Leadership comprises CEO Wesam Alghamdi, CFO Zahid Hussain, CLO Mohammed Sijiny, and Chief of Staff Qamer Javed.

Name

NEOM Green Hydrogen Company

Legal name

NEOM Green Hydrogen Company

Website

https://nghc.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

251–500 employees

Short description

NEOM Green Hydrogen Company is a Saudi joint venture (NEOM, ACWA Power, Air Products) developing the world's largest green hydrogen plant, producing 600 tonnes of green hydrogen daily for conversion into green ammonia for export under long-term industrial offtake agreements.

Ownership category

akta.pro rank

Product category

Green Hydrogen Production

NAICS

Industrial Gas Manufacturing (32512), Electric Power Generation (22111)

SIC

Industrial Organic Chemicals (2860), Electrical Industrial Apparatus (3620)

akta.pro primary industry

Hydrogen (Industrial & Mobility) (IMAEACAB)

akta.pro secondary industries

Hydrogen & Derivative Fuels for Industry (H₂, Ammonia, Methanol) (EUABAJAC), Hydrogen Production Supply & Offtake (Green/Blue H2) for Utility Blending (EUAJAJAF)

Keywords

• Green hydrogen production
• Green ammonia manufacturing
• Renewable energy electrolysis
• Clean fuel export
• Carbon-free hydrogen

Headquarters

HQ city

Tabuk

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Supply Chain, Technology or R&D, Operations, Personnel, Marketing or Sales

Revenue model

1. Green Ammonia Sales: Revenue generated from the sale of green ammonia produced at the facility, with all output under a 30-year exclusive offtake agreement with Air Products. The ammonia is produced from green hydrogen via electrolysis powered by renewable energy.
2. Industrial Hydrogen Sales (via Yara Partnership): Air Products is finalizing marketing and distribution agreement with Norway-based Yara as off-takers for the ammonia produced, indicating additional revenue streams through industrial customers in the fertilizer and chemical industries.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels2 records

Core offering

NEOM Green Hydrogen Company builds and operates the world's largest green hydrogen production facility at Oxagon in NEOM, Saudi Arabia. The facility uses 2.2 GW of electrolyzers powered by approximately 4 GW of solar and wind capacity to produce around 600 tonnes of green hydrogen daily, which is then converted into approximately 1.2 million tonnes of green ammonia annually for export under a 30-year exclusive offtake agreement with Air Products.

Product overview

NEOM Green Hydrogen Company operates as a joint venture between NEOM, ACWA Power, and Air Products, developing the world's largest green hydrogen production facility at Oxagon in NEOM, Saudi Arabia. The facility consists of two integrated products: a green hydrogen production plant utilizing 2.2 GW of electrolyzers powered by 4 GW of solar and wind renewable energy capacity, and a downstream green ammonia conversion facility. The plant produces approximately 600 tonnes of green hydrogen daily, which is converted into approximately 1.2 million tonnes of green ammonia annually for export under long-term offtake agreements.

Differentiator

Problem solved

Functional benefit

Products and services

• NEOM Green Hydrogen Plant
• Green Ammonia

Quantifiable outcome

• 600 tonnes of green hydrogen produced daily
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered flagship, supporting and core.

• YaraflagshipGTM or Marketing Partner · 30 June 2026Norway-based Yara is finalizing a marketing and distribution agreement with Air Products to offtake ammonia produced by the NEOM project. Yara is a global leader in fertilizer and chemical production, serving agricultural and industrial customers worldwide.
• Fahd bin Sultan UniversitysupportingStrategic or Co-development Partner · 9 January 2026Three-year MoU with Fahd bin Sultan University in Tabuk, Saudi Arabia, establishing a framework for cooperation in education, research, and talent development to support the Kingdom's clean energy and hydrogen sectors. The partnership includes training programmes, academic research, and a bridging programme enabling diploma graduates to progress toward bachelor's degrees with focus on technical, engineering and hydrogen technology skills as NGHC advances from construction to testing and commissioning.
• ACWA PowercoreStrategic or Co-development Partner · 1 January 2025Equal joint venture partner in NEOM Green Hydrogen Company alongside Air Products and NEOM. ACWA Power brings expertise in renewable energy development and power generation infrastructure, having secured $8.3 billion in Saudi Arabia investments for 15 GW of new capacity in 2025. The JV has achieved $8.4 billion financial close including a $6.1 billion non-recourse loan.
• Air ProductscoreStrategic or Co-development Partner · 1 January 2025Equal joint venture partner and holder of a 30-year exclusive offtake agreement for all green ammonia output from the world's largest green hydrogen plant. Air Products is finalizing a marketing and distribution agreement with Norway-based Yara as distribution partner for ammonia products. Despite shareholder concerns about offtake challenges, Air Products remains committed to the NEOM project.
• NEOMcoreStrategic or Co-development Partner · 1 January 2025Equal joint venture partner providing the development platform and strategic location at Oxagon in NEOM, Saudi Arabia. NEOM is Saudi Arabia's flagship $500 billion megacity development project supporting the Kingdom's Vision 2030 diversification objectives.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Regional players

• ADNOC: UAE national energy company actively developing blue and green hydrogen export projects (e.g., H2 UAE, hydrogen to Europe). Closest regional competitor pursuing similar GCC-based hydrogen export thesis from a different geography.

Emerging players

• Plug Power: US-based green hydrogen producer with multi-site production network targeting industrial, mobility, and data center customers. Comparable as a green H2 production and offtake platform, though predominantly serving US demand at smaller per-site scale.
• Iberdrola: Spanish utility developing large-scale green hydrogen projects (e.g., Puertollano, ~100 MW; subsequent GW-scale ambitions) integrated with its renewable generation portfolio. Compares as a renewables-to-hydrogen developer, though at smaller per-project scale.
• Ørsted: Danish offshore wind leader pursuing Power-to-X green hydrogen and ammonia projects (e.g., Green Fuels for Denmark). Compares on integrated offshore wind → hydrogen → fuel conversion model targeting industrial and shipping off-takers.

Direct peers

• ACWA Power: Equal JV partner in NGHC and one of the largest developers of renewable energy and green hydrogen projects globally, with $8.3B of Saudi investments in 2025 across 15 GW of new capacity. Shares identical technology platform and strategic positioning.
• Yara International: Global fertilizer and ammonia major finalizing as NGHC's downstream distributor; also developing its own green ammonia projects (e.g., Porsgrunn, Australia). Comparable in ammonia production scale and downstream fertilizer market access.
• Sinopec (Kuqa Green Hydrogen Project): China's largest announced green hydrogen project (~260 MW Phase 1, scaling to GW-class), using solar-powered electrolysis to produce green hydrogen for refining and chemical use. Most directly comparable in concept (utility-scale renewables → electrolysis → industrial off-take), though smaller than NGHC.
• Air Products: Equal JV partner, exclusive offtaker of NGHC's ammonia, and global industrial gases major with parallel green hydrogen megaprojects (e.g., Louisiana Clean Hydrogen Complex). Comparable in molecule production scale and end-market reach.

Broad incumbents

• Aramco: Saudi national oil company and parent of the broader Vision 2030 mandate; developing blue ammonia (Jubail) and exploring green hydrogen. Competes for the same Saudi hydrogen export narrative and policy support that underpins NGHC.
• Linde: Global industrial gases major with significant hydrogen production and active green/blue hydrogen project pipeline (e.g., Project Greenstack). Competes with Air Products for downstream offtake and global green hydrogen distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NEOM Green Hydrogen Company