Dubai Carbon Centre of Excellence has signed a memorandum of understanding (MoU) with UK-based fuel cell company AFC Energy to add 300 megawatts of fuel cell capacity by 2020.
The MoU was signed recently as an official part of the DEWA Green Week activities during the 2015 Water, Energy, Technology and Environment Exhibition (WETEX) in Dubai.
Dubai carbon and AFC will explore the potential for fuel cells in projects such as Dubai Expo 2020, The World Development and Al Maktoum International Airport, according to a statement.
The joint venture will coordinate with owners of Dubai Carbon — Dubai Electricity and Water Authority, Emirates National Oil Co and Dubai Aluminium Co — to assess more project opportunities.
Further, the JV would explore sources of local funding to back its commercial projects.
According to the statement, the JV will generate a multi-billion dollar revenue stream over the life of projects.
The CEO of AFC, Adam Bond, has stated that the company was targeting 1 gigawatt of fuel cell capacity by the end of 2020.
Bond added that the MoU signed will take the JV closer to its target.
Ivano Iannelli, the CEO of Dubai Carbon, said: “In an economy as dynamic as Dubai’s, innovative technologies such as fuel cells have a close fit to numerous activities and realities, with specific regional relevance. We are looking forward to piloting the commercial readiness and technological effectiveness through the partnership with AFC.”
Ajith Kumar S