OMV and Masdar have signed a binding agreement to form a joint venture for the development and operation of a 140 megawatt green hydrogen electrolyzer plant in Bruck an der Leitha, Austria. The new facility is expected to be one of the largest green hydrogen production sites in Europe. Construction began in September 2025, with operations projected to start in 2027.
Under the terms of the agreement, OMV will hold a majority stake in the joint venture, while Masdar will own 49 percent. OMV will supply renewable electricity for hydrogen production and retain ownership of the produced green hydrogen. The partnership brings together OMV’s experience in fuels and chemicals with Masdar’s background in financing and delivering clean energy projects internationally.
The collaboration also sets up potential future cooperation between OMV and Masdar on green hydrogen, synthetic sustainable aviation fuels, and synthetic chemicals production both in Central and Northern Europe as well as the United Arab Emirates. The joint venture is expected to close in early 2026 after final documentation, shareholder approvals, and regulatory clearance.
The signing took place at ADIPEC with several officials present, including H.E. Dr. Sultan Ahmed Al Jaber (UAE Minister of Industry and Advanced Technology; 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). Martijn van Koten from OMV and Mohammad Abdelqader El Ramahi from Masdar formally signed the agreement.
H.E. Dr. Sultan Ahmed Al Jaber 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.”
H.E. Dr. Wolfgang Hattmannsdorfer said: “We can only secure jobs and prosperity in Austria if we stand firmly for open trade and build successful international partnerships. Together with strategic partnership between OMV and Masdar, we have brought one of the largest direct investments of recent years to Austria. OMV and Masdar are jointly constructing the fifth-largest hydrogen plant in Europe – right here in Austria. This project further strengthens Austria’s leading role in a key technology of the future. Our goal is clear: Austria aims to become Europe’s leading hydrogen hub. In doing so, we reaffirm our commitment to maintaining a strong, energy-intensive industrial base – to create jobs and secure prosperity for the future.”
Dr. Alfred Stern commented: “Green hydrogen is a key element in OMV’s Strategy 2030 for decarbonizing our fuels and chemicals production. Partnering with Masdar to develop one of Europe’s largest green hydrogen facilities in Austria marks a significant step forward. This joint venture builds upon our existing partnership by uniting deep technological expertise with a shared vision for progressing towards a climate-neutral future. It will be a cornerstone in transforming our operations and accelerating Europe’s energy transition.”
Mohamed Jameel Al Ramahi added: “This landmark partnership with OMV marks an important step in expanding Masdar’s green hydrogen footprint in Europe and strengthening the energy collaboration between the UAE and Austria. By combining Masdar’s global expertise in developing and scaling clean energy projects with OMV’s strong industrial and technological capabilities, this joint venture will accelerate the decarbonization of hard-to-abate industries and advance the development of a sustainable hydrogen economy in Europe.”
Masdar aims to become one of world’s leading producers of green hydrogen by 2030 through investment into scalable platforms across key markets.
OMV reported revenues totaling €34 billion for 2024 with about 23,600 employees worldwide; its shares are listed on both Vienna Stock Exchange (OMV) as well as US OTCQX markets under symbols OMVKY/OMVJF.
Masdar was established by Abu Dhabi government entities TAQA, ADNOC, Mubadala; it manages over 51 GW global project portfolio capacity targeting expansion up toward 100 GW by end-decade.
