UK markets close in 3 hours 43 minutes
  • FTSE 100

    7,786.46
    +14.76 (+0.19%)
     
  • FTSE 250

    20,002.41
    +148.96 (+0.75%)
     
  • AIM

    874.15
    +6.33 (+0.73%)
     
  • GBP/EUR

    1.1304
    -0.0035 (-0.31%)
     
  • GBP/USD

    1.2322
    +0.0005 (+0.04%)
     
  • BTC-GBP

    18,746.49
    +81.51 (+0.44%)
     
  • CMC Crypto 200

    523.33
    +4.53 (+0.87%)
     
  • S&P 500

    4,076.60
    +58.83 (+1.46%)
     
  • DOW

    34,086.04
    +368.95 (+1.09%)
     
  • CRUDE OIL

    79.34
    +0.47 (+0.60%)
     
  • GOLD FUTURES

    1,944.10
    -1.20 (-0.06%)
     
  • NIKKEI 225

    27,346.88
    +19.77 (+0.07%)
     
  • HANG SENG

    22,072.18
    +229.85 (+1.05%)
     
  • DAX

    15,163.76
    +35.49 (+0.23%)
     
  • CAC 40

    7,093.74
    +11.32 (+0.16%)
     

Thyssenkrupp, ADNOC sign MoU to cooperate on ammonium cracking plant

FRANKFURT (Reuters) - Thyssenkrupp and Abu Dhabi National Oil Co (ADNOC) have signed a memorandum of understanding (MoU) to cooperate on technology that allows the extraction of hydrogen from ammonia on an industrial scale.

Under the agreement, Thyssenkrupp's Uhde unit, which designs and builds fertiliser, petrochemicals and coking plants, will provide ammonia cracking technology that is already in use in over 130 chemicals plants globally.

"The partnership with ADNOC is of great importance. There currently does not exist a cracker of this size," Thyssenkrupp Uhde Chief Executive Cord Landsmann told Reuters.

As part of the cooperation, the companies will also explore options for the supply and shipment of ammonia produced via renewable sources from the United Arab Emirates to large ammonia crackling sites worldwide.

"We are committed to strengthening our position as a reliable supplier of lower carbon-intensive energy, creating new revenue streams and growing the global market for hydrogen," ADNOC executive Musabbeh Al Kaabi said in a statement.

(Reporting by Christoph Steitz; Editing by Miranda Murray)