NEOM Green Hydrogen Company leadership transition

Following the successful financial close on the world’s largest green hydrogen plant, David Edmondson, CEO of NEOM Green Hydrogen Company, will return to Air Products. He will be succeeded by Wesam Y. Alghamdi who will transition into the role in January 2024.

NEOM, Saudi Arabia – October 26, 2023: NEOM Green Hydrogen Company (NGHC) Chairman, Nadhmi Al-Nasr, announced today that following the successful financial close on the world’s largest green hydrogen plant, David Edmondson, CEO of NGHC, will return to Air Products and be succeeded by Wesam Y. Alghamdi. In this planned leadership transition, Edmondson will remain CEO until the end of the year to ensure a smooth and seamless handover of responsibilities. As of January 1, 2024, Edmondson will return to Air Products, where he will continue to play an instrumental role in the development of Air Products’ green hydrogen strategy in support of the energy transition market.

Since joining NGHC, Edmondson has led the development of the plant in collaboration with NGHC shareholders such as ACWA Power, Air Products, and NEOM, ultimately resulting in the establishment of the company. In July 2021, Edmondson took on the position of CEO, becoming responsible for overseeing project financing and the initial company build-out. Edmondson has been instrumental in developing human capital capabilities in line with Saudi Vision 2030, while effectively managing the successful conclusion of all project agreements. Under his guidance, NGHC accomplished full financial close on the plant in May 2023, with a total investment value of USD 8.4 billion. The funding includes a significant amount of USD 6.1 billion in non-recourse financing from 23 local, regional, and international banks and financial institutions.

Nadhmi Al-Nasr, Chairman, NEOM Green Hydrogen Company, and Chief Executive Officer, NEOM said:

“With full financial close on the plant, we are a significant step closer to revolutionizing the global energy market through the production of green hydrogen at scale. The focus of the next two years at NGHC will be to complete the construction of the giga-scale facility for the operational phase of the project. I would like to express my gratitude to David for his vision and commitment during the initial phase of the world’s largest green hydrogen plant. Additionally, I would like to welcome Wesam Y. Alghamdi, who will now lead the execution of the project to its completion.”

Joining NGHC this month, Alghamdi brings over 25 years of cross-function senior leadership, including engineering, operations, and project management in diverse industry segments with Maaden, Sabic and Shell. An alumnus of King Fahd University of Petroleum and Minerals (KFUPM), Alghamdi has a strong track record of performance anchored in strategic planning and technical execution, which will be pivotal in leading the company’s next era of growth.

Located at Oxagon in Saudi Arabia’s northwestern region of NEOM, NGHC’s mega-plant is an equal joint venture between ACWA Power, Air Products, and NEOM. Once operational by the end of 2026, the plant will integrate up to 4GW of solar and wind energy to produce approximately 600 tonnes per day of carbon-free hydrogen, specifically in the form of green ammonia. Air Products has an exclusive 30-year off-take agreement for all the green ammonia produced at the facility, which will be used in transportation and industrial sectors worldwide. This agreement will unlock the economic potential of renewable energy throughout the entire value chain.

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About NEOM Green Hydrogen Company (NGHC)

NEOM Green Hydrogen Company (NGHC), established in August 2021, is an equal joint-venture created by ACWA Power, Air Products and NEOM, building the world’s largest plant to produce green hydrogen at scale. Located in NEOM and supporting Saudi Arabia’s Vision 2030, this mega-plant will produce up to 600 tonnes per day of carbon-free hydrogen in the form of green-ammonia as a cost-effective solution for transportation globally. Integrating up to 4GW of solar and wind energy and powered by the combined expertise of its three shareholders, NGHC will harness the infinite power of nature to accelerate the energy transition, ushering in a new era of sustainable clean energy.

Learn more at nghc.com

About ACWA Power

ACWA Power (TADAWUL:2082) is a developer, investor and operator of power generation, desalinated water and green hydrogen production plants. Registered and established in 2004 in Riyadh, Saudi Arabia, ACWA Power employs over 4,000 people and is currently present in 12 countries in the Middle East, Africa, Central Asia and Southeast Asia. ACWA Power’s portfolio comprises 72 projects in operation, advanced development, or construction with an investment value of SAR 280.56 billion (USD 74.8 billion), and the capacity to generate 45.85 GW of power and manage 6.8 million m3/day of desalinated water per day, delivered on a bulk basis to address the needs of state utilities and industries on long term, off-taker contracts under utility services outsourcing and Public-Private-Partnership models. www.acwapower.com

About Air Products

Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products’ core business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food. The Company also develops, engineers, builds, owns and operates some of the world’s largest industrial gas and carbon-capture projects, supplying world-scale clean hydrogen for global transportation, industrial markets, and the broader energy transition. Additionally, Air Products is the world leader in the supply of liquefied natural gas process technology and equipment, and globally ­provides turbomachinery, membrane systems and cryogenic containers.

The Company had fiscal 2022 sales of $12.7 billion from operations in over 50 countries and has a current market capitalization of about $65 billion. More than 21,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products’ higher purpose to create innovative solutions that benefit the environment, enhance sustainability and reimagine what’s possible to address the challenges facing customers, communities, and the world.

For more information, visit www.airproducts.com or follow us on LinkedIn, X,  Facebook or Instagram.

About NEOM

NEOM is an accelerator of human progress and a vision of what a new future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this new future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.

NEOM will include hyperconnected, cognitive cities, ports and enterprise zones, research centers, sports and entertainment venues and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate, and commercialize new technologies and enterprises in groundbreaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity.

For further information email media@NEOM.com or visit www.NEOM.com and www.NEOM.com/en-us/newsroom.