On Wednesday, the Suez Canal Economic Zone (SCZone) signed a Memorandum of Understanding (MoU) with the German company H2 Industries to build the first waste-to-hydrogen plant in the economic zone, with total investments amounting to $4 billion.
The MoU was signed by the chairman of the SCZONE Yahia Zaki and executive chairman and CEO of German energy storage firm H2 Industries Michael Stusch on the sidelines of the sixth edition of Egypt Can conference, which is being held under the title ‘Egypt Can With Industry’ in the New Administrative Capital, under the auspices of President Abdel-Fattah El-Sisi.
The signing ceremony was attended by Parliament deputy speaker Mohamed Abou El-Enein, the Emigration Minister Nabila Makram, and Minister of Military Production Mohamed Ahmed Morsi.
Under the agreement, the waste-to-hydrogen plant will be built in the East Port Said area, with a production capacity of 300,000 tons of green hydrogen annually, disposing of 4 million tons of Municipal Solid Waste (MSW) per year.
Following the signing ceremony, Zaki underlined efforts exerted by the authority to lure investments to the economic zone.
He pointed out that these industries are based on the availability of components possessed by SCZone, especially those enjoyed by the integrated areas of Sokhna and East Port Said; where the port is adjacent to the industrial and logistic areas, which facilitates the operations of supplying ships and for export purposes to foreign markets.
On his part, Stusch said that the establishment of this station, the first of its kind, to convert waste into green fuel in Egypt, is the beginning of the company’s expansion in the Middle East and North Africa.
He pointed out that converting green hydrogen into clean fuels – especially for the aviation sector – is a promising market, coinciding with the global transformation of the green economy and the reduction of carbon emissions, as the plant is expected to absorb about four million tons of waste annually.
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