OMV, Austria’s integrated energy, fuels and chemicals company, and Masdar, a global clean energy leader, have signed a binding agreement to establish a joint venture (JV) for the financing, construction and operation of the 140 MW green hydrogen electrolyzer plant in Bruck an der Leitha, Austria.

This landmark project will be one of Europe’s largest green hydrogen production facilities and marks a major step in OMV’s commitment to decarbonizing its Schwechat refinery and accelerating the energy transformation. Construction of the facility began in September 2025 and it is expected to be operational in 2027.

The JV between OMV and Masdar will be majority-owned by OMV with Masdar owning 49 percent. The partnership combines OMV’s strategic leadership under its integrated Fuels and Chemicals business and Masdar’s commercial, financial and technical expertise in developing and operating clean energy projects worldwide. OMV, which is already running a 10 MW electrolyzer plant for green hydrogen in Schwechat, will procure the renewable electricity for production and own the green hydrogen produced.

The partnership lays the foundation for a future strategic collaboration between OMV and Masdar to explore green hydrogen, synthetic sustainable aviation fuels (e-SAF) and synthetic chemicals production in both the UAE and Central and Northern Europe, following the signing of the Letter of Intent in April earlier this year. The JV is anticipated to close in early 2026, conditional on completion of final documentation, shareholders’ approvals and regulatory approvals.