ENOWA

What ENOWA does

ENOWA is the energy, water, and hydrogen subsidiary of NEOM Company, a sovereign-backed Saudi Arabian megaproject entity. The company was officially launched in March 2022 and is headquartered at Oxagon in NEOM, Tabuk, Saudi Arabia, with a workforce of approximately 359 employees. ENOWA operates an integrated platform spanning renewable electricity generation (solar, wind, HVDC transmission), water supply and treatment (desalination with zero-liquid discharge, wastewater recycling, brine processing for mineral recovery), and green hydrogen production (650 tonnes/day target, converting to 1.2 million tons/year of green ammonia for export). Its technology stack includes proprietary first-of-its-kind systems such as a 3 GW/525 kV HVDC Light transmission link, a 1MW PEM fuel cell designed for GCC ambient conditions, cryogenic carbon capture (30 tonnes CO2/day pilot), and an AI-driven Integrated Energy Management System Platform supporting the world's largest renewable-powered district cooling system.

ENOWA's business model combines regulated utility revenue within NEOM (water supply at SAR 9.00/m3 flat tariff across residential, commercial, industrial, and government sectors, plus connection fees and meter maintenance subscriptions) with export-oriented revenue from green hydrogen and ammonia through an exclusive off-take agreement with Air Products, and emerging clean industrial product revenue from brine-derived minerals and e-fuels. Customer segments include NEOM residents and businesses (target population 1,000,000+), NEOM Contractors for construction-phase water services, global hydrogen mobility markets via the Air Products channel, and transportation/mobility applications through hydrogen refueling stations and green maritime initiatives. The company pursues a B2B/B2G enterprise model, with primary commercial partnerships anchored by Hitachi Energy, SEC, ACWA Power, Aramco, Veolia, ITOCHU, and KAUST.

The company generates no public revenue today and is funded through its parent NEOM Company as part of Saudi Vision 2030. Its competitive position is structurally anchored by exclusive rights as the sole utility provider for NEOM, multi-billion-dollar capital backing, and integration across energy-water-hydrogen value chains that single-sector operators cannot replicate. ENOWA's near-term risk profile is dominated by NEOM execution timelines, sovereign capex continuity, and the speed at which operational capacity (solar/wind 2026, hydrogen 2025, full desalination 2030) translates into commercial revenue.

Name

ENOWA

Legal name

ENOWA

Website

https://enowa.neom.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

251–500 employees

Short description

ENOWA is NEOM's wholly-owned energy, water, and hydrogen subsidiary, building the world's first at-scale 100% renewable utility platform for the NEOM megaproject in Saudi Arabia. It serves NEOM residents, businesses, and global hydrogen export markets via integrated solar, wind, HVDC transmission, desalination, and green hydrogen production assets.

Ownership category

akta.pro rank

Product category

Integrated Renewable Energy, Water and Hydrogen Utilities

NAICS

Water Supply and Irrigation Systems (22131), Steam and Air-Conditioning Supply (221330), Industrial Gas Manufacturing (32512)

SIC

Water Supply (4941)

akta.pro primary industry

Desalination Plant EPC, O&M & Performance Optimization (EUANAFAK)

akta.pro secondary industry

Desalination Energy Systems (Energy Recovery Devices, Power Integration, Renewables) (EUANAFAI)

Keywords

• Renewable energy utilities
• Water desalination services
• Green hydrogen production
• District cooling systems
• Hydrogen ammonia export

Headquarters

HQ city

NEOM

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Water Supply and Services: ENOWA provides water supply, wastewater, recycled water, and water connection services to residential, commercial, industrial, and government customers within NEOM. Revenue is generated through water tariffs, connection fees, and service charges.
2. Renewable Energy Supply: ENOWA supplies 100% renewable electricity to NEOM communities through its integrated energy system, featuring solar, wind, and HVDC transmission infrastructure.
3. Green Hydrogen and Ammonia Production and Export: ENOWA produces 650 tonnes of green hydrogen per day (converting to 1.2 million tons of green ammonia per year) for export to global H2-mobility markets through its partnership with Air Products. This represents a significant revenue stream from international clean energy exports.
4. Clean Industrial Products: ENOWA extracts high-value chemicals and minerals (magnesium metals, high-purity salts) from brine left by the desalination process, creating new industries and revenue streams in a true sustainable circular economy.
5. District Cooling Services: ENOWA operates the world's largest 100% renewable-powered centralized District Cooling System, providing cooling services to NEOM developments.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels10 records

Core offering

ENOWA is the energy, water, and hydrogen utility subsidiary of NEOM, providing 100% renewable electricity generation and supply, water desalination with zero-liquid discharge, water recycling, district cooling, and green hydrogen/ammonia production and export. It operates an integrated digital energy platform that orchestrates generation, storage, and demand across the NEOM ecosystem and to international off-takers, with its own dedicated hydrogen refueling network and an e-fuels program.

Product overview

ENOWA is NEOM's energy, water, and hydrogen sector subsidiary offering an integrated sustainable infrastructure platform. The core products include the NEOM Energy Operating System and Digital Energy Platform (DEP) that connect all energy assets across the region. ENOWA provides complementary sub-products across three domains: Energy (HVDC transmission systems, green hydrogen production, district cooling, e-fuel production, cryogenic carbon capture); Water (selective desalination plant, Al Bada Water Recycling Plant, Water Innovation Center, smart water networks); and Hydrogen (Hydrogen Innovation and Development Center). These products work together as an integrated system to deliver 100% renewable energy, sustainable water management with zero liquid discharge, and green hydrogen production for export and local mobility applications.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 98% wastewater recovered and treated for recycled water use at Al Bada Water Recycling Plant
• +7 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature8 records

Partnerships

16 partnerships are on record, tiered core, flagship and minor.

• AramcocoreStrategic or Co-development Partner · 16 November 2023ENOWA and Aramco joined forces to create e-fuel demonstration plant at HIDC in Oxagon. Plant will produce 35 barrels/day of low-carbon synthetic gasoline using circular carbon economy approach, potentially reducing CO2 emissions by 70%+ vs conventional fuels.
• Hitachi EnergycoreTechnology or Integration · 11 May 2023ENOWA signed agreement with Hitachi Energy for supply of three HVDC transmission systems totaling 9 GW capacity. Hitachi Energy will provide 3 GW, 525 kV HVDC Light transmission system connecting Oxagon with Yanbu area (650+ km). Additional early works and capacity reservation agreements for two more 3 GW HVDC projects.
• Saudi Electricity Company (SEC)coreImplementation/ SI/ Consulting Partner · 11 May 2023SEC acts as ENOWA's EPCM (engineering, procurement, construction management) partner for HVDC transmission systems. SEC will build and operate the cryogenic carbon capture pilot plant at Dubay. SEC and ENOWA jointly partnered with KAUST for cryogenic carbon capture technology.
• Pennsylvania State UniversitycoreStrategic or Co-development Partner · 12 April 2023Five-year master research agreement signed with Penn State for smart water technologies, desalination, and rare earth mineral/metal recovery research. Physical testing will be conducted at Water Innovation Center in NEOM.
• King Abdullah University of Science and Technology (KAUST)coreStrategic or Co-development Partner · 15 February 2023MoU signed to integrate AI-driven technologies in energy systems. Collaboration includes computational modeling, high-performance computing frameworks, climate reanalysis models, data assimilation, weather forecasting, renewable energy optimization, and digital twin capabilities development.
• Monaco Hydrogen AllianceflagshipStrategic or Co-development Partner · 16 January 2023ENOWA is strategic partner for Monaco Hydrogen Alliance, promoting use of green hydrogen in mobility for land, maritime, and aviation. Roland Kaeppner and Dr. Yasmeen Najm represented ENOWA at annual forums. ENOWA participates in judging Monaco Hydrogen Prize.
• KAUST and SECcoreStrategic or Co-development Partner · 18 November 2022Three-way partnership to build pilot cryogenic carbon capture plant at Dubay - one of world's largest demonstrations of this technology. Plant will capture 30 tonnes CO2 daily from SEC's Green Duba ISCC power plant. Carbon captured for food/beverage applications and e-fuel production.
• Extreme EflagshipGTM or Marketing Partner · 29 June 2022Multi-year partnership making ENOWA the official green hydrogen power partner of the electric racing series. ENOWA implements hydrogen-based fuels and technologies to power race sites and cars, showcasing hydrogen as sustainable solution for climate action.
• ITOCHU and VeoliacoreStrategic or Co-development Partner · 16 June 2022MoU signed with ITOCHU and Veolia to develop first-of-its-kind selective desalination plant at OXAGON, powered by 100% renewable energy. Plant will achieve zero-liquid discharge and produce early-water in 2024.
• Hydrogen Innovation Development Center (HIDC)coreStrategic or Co-development Partner · 29 March 2022HIDC is the first of its kind in the region, part of NEOM's plan to accelerate innovation in hydrogen and green fuel production, utilization, and transport. Supports Kingdom's aim to become global clean energy hub.
• Air ProductsflagshipChannel Partner/ Reseller/ DistributorAir Products has exclusive off-take agreement for all green ammonia produced from NEOM Green Hydrogen Company (650 tonnes/day hydrogen, 1.2 million tons/year ammonia) for global H2-mobility markets. Projects under development targeting 2025 operational.
• ACWA PowercoreStrategic or Co-development PartnerJoint venture with ACWA Power and Air Products for development of first solar and wind farm sites in NEOM. Part of the NEOM Green Hydrogen Project (NGHP).
• Delft UniversityminorStrategic or Co-development PartnerJoint feasibility study with Delft University on using brine from desalination in 3D printing of sustainable concrete materials. Results published in scientific journal.
• tk UhdecoreTechnology or IntegrationProprietary technology provider for e-fuel demonstration plant, contributing to the first-of-its-kind synthetic electro-fuel production showcasing technical feasibility and commercial viability.
• ExxonMobilcoreTechnology or IntegrationProprietary technology provider for e-fuel demonstration plant, part of the joint development agreement between ENOWA and Aramco for producing low-carbon synthetic gasoline.
• Saudi Electricity Company, Al Sharif Group Holdings, Helicopter Express, Inc., Al Rushaid GroupminorImplementation/ SI/ Consulting PartnerPartners for helicopter-aided construction project installing high-voltage transmission line towers in mountainous areas - a Saudi first. Helicopter Express provided helicopter services; others provided construction and project management services.

Scale indicators21 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Iberdrola: Global renewable utility leader with significant wind, solar, and hydrogen investments. Comparable scale of renewable buildout and net-zero infrastructure ambitions, though operating across many mature markets rather than a single greenfield city.
• NextEra Energy: Largest US renewable utility (Florida Power & Light and NextEra Energy Resources). Comparable scale of renewable generation development and grid integration expertise, though operating in mature US markets rather than greenfield city buildout.
• ENGIE: Global utility with major renewable energy and green hydrogen portfolios spanning power generation, district heating/cooling, and water services. Comparable integrated utility model with explicit decarbonization pivots and hydrogen ambitions.

Direct peers

• ACWA Power: Saudi-based developer and operator of power generation and desalination plants with a growing green hydrogen portfolio. The most direct peer given geographic overlap, business model overlap (renewable IPP and water desalination EPC), and existing joint-venture partnership with ENOWA on the NEOM Green Hydrogen Project.
• Masdar (Abu Dhabi Future Energy Company): UAE state-backed clean energy developer investing across renewable power, green hydrogen, and sustainable urban development. Closely comparable mandate to ENOWA as a sovereign-backed integrated renewable/hydrogen platform targeting global clean energy leadership.

Others

• Veolia: Global water and environmental services leader partnering with ENOWA on the selective desalination plant at OXAGON. Strategic technology partner in water treatment rather than a direct competitor in NEOM utility services.
• Hitachi Energy: Global grid technology vendor supplying ENOWA's HVDC Light transmission systems (9 GW total across three links). Strategic technology partner rather than competitor; comparable in scale of HVDC systems being deployed globally.
• Aramco: Saudi national oil company partnering with ENOWA on the e-fuel demonstration plant and broader clean energy initiatives. Strategic partner rather than direct competitor; comparable in scale and Saudi strategic positioning.
• Air Products: Global industrial gas and hydrogen leader and ENOWA's exclusive green ammonia off-taker. Strategic commercial partner rather than direct competitor; comparable in green hydrogen production scale and global hydrogen market positioning.

Emerging players

• Ørsted: Former oil and gas company transformed into a global offshore wind leader with growing green hydrogen portfolio. Comparable strategic pivot toward 100% renewable energy and hydrogen production.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/ENOWA_NEOM
• LinkedInlinkedin.com/company/neom-enowa

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries3 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 ENOWA