Magnom Properties, a subsidiary of Rawabi Holding, announces that the ‘Forbes International Tower’, designed by Adrian Smith and Gordon Gill Architecture, will be the first-of-its-kind project in the world to run entirely on the Liquid Organic Hydrogen Carrier (LOHC) system, Invest-Gate reports.
In line with the sustainable vision of the zero-carbon emissions commercial tower, Magnom Properties signs a Memorandum of Understanding (MoU) with Schneider Electric, the leader in the digital transformation of energy management and automation, and H2-Enterprises, a global hydrogen generation, and energy storage solutions company.
The MoU aims to tap into the long-term potential of clean hydrogen to accelerate the ambitious zero carbon emission goals of the Forbes International Tower.
Under the strategic partnership, the Forbes International Tower planned in the UAE, Saudi Arabia, and Egypt will tackle critical energy challenges by utilizing clean hydrogen produced in a climate-neutral manner from renewable waste sources to power the needs of its operations.
The MoU was signed by Othman A. Ibrahim, CEO of Rawabi Holding and Vice Chairman of Magnom Properties, and Maged Marie, CEO of Magnom Properties, with Sebastien Riez, Cluster President for North East Africa and Levant region, Schneider Electric, and Michael Stusch, Executive Chairman and CEO of H2-Enterprises.
The signing ceremony occurred at the Magnom Properties offices at ICD Brookfield Place at the Dubai International Financial Centre (DIFC).
Ibrahim states, “As an organization committed to long-term sustainability in the region, we are delighted to sign the MoU with Schneider Electric and H2-Enterprises to drive innovative smart climate solutions that address urban development challenges.”
Through this partnership, we aim to elevate the standards of sustainability and environmentally responsible practices in the region’s real estate sector, in line with the ambitious goals of the UN’s 2030 Agenda for Sustainable Development.” Ibrahim continues.
While Marie adds, “Clean hydrogen represents the future of electricity generation.”
It is noteworthy that the LOHC technology enables hydrogen to be stored, transported, and released in a safe and environmentally friendly manner.
