Fadi Krikor, CEO of Germany-based Augustus Global Investment (AGI), has announced that the company will invest $500 million to build a green hydrogen plant in the Indonesian province of Aceh.
The construction of the plant, which will have an annual hydrogen production capacity of 35,000 mt, will start next year, and the plant is scheduled to be commissioned in 2026.
In addition, the company has signed memorandums of understanding with Indonesian companies PT Pupuk Indonesia and PT Pupuk Iskandar Muda regarding the location and electricity supply for the plant.