Sasol and IDC formalise partnership to co-develop South Africa's hydrogen economy

Rhea-AI Summary

Sasol Limited and the Industrial Development Corporation of South Africa have signed a memorandum of cooperation to advance South Africa's green hydrogen economy. The MOC aims to leverage the country's renewable resources and Sasol's technology to become a leader in the global hydrogen market. Both entities will collaborate on policy advocacy, developing pilot and commercial hydrogen projects, and securing financing. Sasol's leadership in creating hydrogen ecosystems could generate sustainable energy products and job opportunities, supporting the nation's energy transition and economic growth.

Positive

• Partnership with IDC to develop South Africa's green hydrogen economy.
• Potential to create new jobs and sustainable energy products.
• Access to local and international financing for hydrogen projects.
• Leverage proprietary technology for market leadership.

Negative

• None.

JOHANNESBURG, July 5, 2021 /PRNewswire/ -- Sasol Limited (Sasol) and the Industrial Development Corporation of South Africa Limited (IDC) have concluded a memorandum of cooperation (MOC) to jointly develop and shape an enabling environment to advance South Africa's green hydrogen economy.

Underpinning the MOC is acknowledgement by the parties that South Africa is in a unique position to leverage its world class renewable resources endowment and infrastructure, as well as Sasol's Fischer-Tropsch technology and skills to position the country as a leader in a global hydrogen economy.

Sasol and the IDC will, among others, collaborate on a non-exclusive basis in advocating at relevant international fora for policy frameworks to enable a hydrogen economy; developing pilot and commercial scale hydrogen projects to pioneer viable and sustainable solutions; accessing local and international financing options; and pursuing strategic projects that benefit the country's energy transition and economic development goals.

Priscillah Mabelane, Sasol's Executive Vice President: Energy Business, said: "Green hydrogen provides an exciting opportunity for the country to create new hydrogen ecosystems and become a credible exporter of sustainable energy and chemical products, such as hydrogen, ammonia and sustainable aviation fuel, while increasing much-needed employment opportunities."

"Our ambition is to lead and co-create South Africa's hydrogen ecosystems through strategic partnerships, leveraging our proprietary technology and integrated value chain. We are delighted to partner with the IDC in jointly pursuing South Africa's green hydrogen potential to support a just energy transition and unlock new value chains to ignite the country's economy," concluded Ms Mabelane.

Joanne Bate, Chief Operations Officer from the IDC said: "The development of the hydrogen industry is a key enabler in South Africa's just transition to a decarbonised future.  Hydrogen has the potential to decarbonise various industrial sectors.  IDC intends on getting involved in the development of those catalytic projects needed to develop this new industry.  We are looking forward to working together with Sasol in identifying and co-developing such catalytic projects.  Our involvement in the development of the hydrogen industry also provides opportunities to fulfill our development mandate which entails job creation and opportunities to involve previously disadvantaged entities."

For more information on other green hydrogen partnerships that Sasol has formed, please visit the media centre on www.sasol.com.

Issued by:

Matebello Motloung, Manager: Group Media Relations
Direct telephone: +27-(0)-10-344-9256; Mobile: +27-(0)-82-773-9457
matebello.motloung@sasol.com 

About Sasol:

Sasol is a global integrated chemicals and energy company. We harness our knowledge and experience to integrate sophisticated technologies and process into our world-scale operating facilities. We safely and sustainably source, produce and market a range of high-value product streams in 30 countries, creating superior value for our customers, shareholders and other stakeholders.

About Sasol's Information Privacy Policy:

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Within our company, only Sasol Group Media Relations will receive your Personal Information to fulfil the purpose of maintaining the relationship with the receiver in his/her capacity as a member of the media. You have the right to request for the correction or deletion of your Personal Information stored by us at address: Sasol Place, 50 Katherine Street, Sandton in Johannesburg. You also have a right to restrict the processing of your Information. To exercise your privacy rights or find out more about Information Privacy Policy, kindly contact our Privacy Office on: privacy@sasol.com 

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SOURCE Sasol Limited

FAQ

What is the memorandum of cooperation signed by Sasol and IDC about?

It focuses on advancing South Africa's green hydrogen economy through collaborative projects.

When was the MOC between Sasol and IDC announced?

The memorandum was announced on July 5, 2021.

What opportunities does the green hydrogen initiative offer for South Africa?

It aims to create jobs, develop sustainable energy products, and position the country as a credible exporter.

How will Sasol and IDC collaborate on hydrogen projects?

They will work together on policy advocacy, pilot projects, and financing to develop the hydrogen industry.

What potential benefits does the green hydrogen economy bring to South Africa's energy transition?

It could decarbonise various industrial sectors and support economic development goals.