One of the most astonishing and pioneering green hydrogen and ammonia projects is gaining traction ahead of a targeted commercial start-up in 2026. The NEOM project in the Kingdom of Saudi Arabia is a prime example of what mankind is capable of and has been astonishing the international energy market since the project was announced. The NEOM Green Hydrogen Company (NGHC) has recently announced that it has secured the necessary funding for the project to enter its final stage ahead of full-scale operations next year.
NEOM Green Hydrogen Company progressing towards a great start to 2026
The company noted that after signing financial agreements with 23 local, regional, and international banks and investment firms that it has now reached a critical juncture in the project’s status. The company states that it has now reached a financial close on what will become the largest green hydrogen production facility in the world.
With an estimated price tag of around $8.4 billion, the NEOM green hydrogen and ammonia facility is set to completely change the way we look at the hydrogen sector in the years to come.
NEOM Green Hydrogen Company has been created as a joint venture between some of the largest energy companies in the world, including ACWA Power, Air Products, and NEOM. With the venture noting expectations are for the project to reach full-scale commissioning next year, the future is looking brighter than ever.
“This substantial financial backing from the investment community shows the unmatched potential of NGHC’s green hydrogen project. With the financial close announced today, we are taking a massive leap towards opening the plant, in line with NEOM’s vision to accelerate renewable solutions. At scale, this project is the first-of-its-kind internationally, leading the world in the hydrogen revolution. Harnessing the energy of NEOM’s abundant natural resources, NGHC’s project will pave the way for the large-scale adoption of green hydrogen, while driving Saudi Vision 2030’s sustainable development goals.” – Nadhmi Al-Nasr, Chairman, NEOM Green Hydrogen Company, and Chief Executive Officer
The NEOM project will be a world-first, pioneering project that exemplifies our collective ambitions
The project will become the first in history to use hydrogen as the main power source, effectively cutting out any reliance on the conventional oil and gas sectors. Once fully commissioned, the project will deliver around 600 tonnes per day of clean hydrogen by electrolysis using thyssenkrupp technology.
It will also boast the production capacity to produce approximately 1.2 million tonnes per year of green ammonia. NEOM’s leadership has noted that the project will mitigate the impact of 5 million metric tonnes of carbon emissions per year.
At the start of the year, the project reached an 80% completion mark, and expectations are for the energy to start flowing in 2026 or by 2027 at the very latest. While Europe is advancing its own hydrogen sector to reach new milestones in the new year, it pales in comparison to the potential that the NEOM project has in abundance.
“The NEOM Green Hydrogen Project is the world’s largest utility scale, commercially-based hydrogen facility powered entirely by renewable energy.” – Nadhmi Al-Nasr, Chairman, NEOM Green Hydrogen Company, and Chief Executive Officer
The rest of the world is trying to keep up with the progress made by NEOM
The progress being made by NEOM Green Hydrogen Company is a step in the direction of a new energy future for the world. With the market shifting away from the conventional oil and gas sectors towards the clean energy generation potential of the renewable energy sector, the future of the world is well and truly in our own hands. Europe is attempting to keep up through several of its own hydrogen projects that can reshape domestic energy markets, but it still has a lot of work to do.
