De Nora signs MOU with ACWA Power to accelerate energy transition & water desalination in Saudi Arabia

Coalition reaffirms De Nora’s ongoing commitment to the development of the Kingdom

MILAN (5 Sept. 2023) – Industrie De Nora S.p.A. (“De Nora”), an Italian multinational company listed on the Euronext Milan, specialized in sustainable electrochemical technologies and in the emerging green hydrogen industry, has been selected by Saudi-listed ACWA Power, the world’s largest private water desalination company, to enter into a close collaboration to advance the energy transition via the production of green energy, water and wastewater disinfection technologies and jointly perform Research & Development of key and new technologies. The partnership was formally recognized with the signing of a memorandum of understanding (MOU) at the Saudi-Italian Investment Forum, held yesterday in Milan under the patronage of the Saudi Ministry of Investment and the Italian Ministry of Enterprises and made in Italy.

“We are pleased to further expand our long-lasting presence in the Middle East and confirm our strong commitment to participate in realizing the Saudi 2030 Vision,” said Luca Buonerba, chief marketing and business development officer at De Nora. “De Nora Group’s portfolio of solutions for clean water and green hydrogen production is well appreciated by ACWA, as well as many Saudi companies and utilities across the region enjoying clean water treated by our technologies. The overall reinforcement of the business relations between our companies, under the umbrella of the friendship of the Italian and Saudi governments, is certainly a springboard for additional successes and expand our presence.”

De Nora Group offers a comprehensive portfolio of water and wastewater technologies, with several product lines rooted in the company’s most advanced electrochemical technologies. ACWA plans to utilize De Nora’s expertise in electrode technologies as the enabling factor for the sustainable production of green hydrogen.

The collaboration with ACWA will draw on the experience of similarly scoped high profile projects in the region, such as the largest seawater reverse osmosis desalination plant in the world, underway as part of the second phase of the Al Jubail Desalination Plant upgrade, and the world’s largest green hydrogen production plant at Neom using alkaline water electrolysis supplied by our joint venture partner thyssenkrupp nucera AG &Co. KGaA (thyssenkrupp nucera), a joint initiative of Air Products, ACWA power and Neom Green Hydrogen company.

Buonerba adds, “We are sure that by working in partnership with ACWA and with the guidance of their management, we will realize many opportunities to provide the country with the best technologies at the most competitive total cost of ownership, minimizing the CO2 footprint, granting easy and cost competitive access to clean water and green hydrogen.”

Marco Arcelli, ACWA Power CEO, “We have high expectations for the relationship between ACWA and De Nora for the exchange of crucial expertise, products, and equipment to Saudi Arabia, home of one of the largest decarbonization programs in the world. De Nora’s expertise in electrochemistry and sustainability technologies will enhance ACWA Power’s portfolio of water desalination and power projects. We will also investigate to enhance the cooperation in operations and maintenance of our desalination and green hydrogen applications. ACWA and De Nora both share a mutual vision to deal with some of the world’s most pressing problems, and we look forward to the future of this development.”

Present at the MOU signing, Luca Buonerba from De Nora, Marco Arcelli from ACWA Power, H.E. Khalid Al-Falhih, Saudi Ministry of investment (Energy) and H.E. Adolfo Urso, Italian Ministry of Enterprise and Made in Italy.

About De Nora

Industrie De Nora is an Italian multinational company listed on the Euronext Milan stock exchange, specializing in electrochemistry, a leader in sustainable technologies, and has a vital role in the industrial green hydrogen production chain. The Company has a portfolio of products and systems to optimize the energy efficiency of critical industrial electrochemical processes and a range of products and solutions for water treatment. Globally, Industrie De Nora is the world’s largest supplier of activated electrodes (serving a broad portfolio of customers operating in the fields of chlorine and caustic soda production, components for electronics, and non-ferrous metal refining). Industrie De Nora is also among the world’s leading suppliers of water filtration and disinfection technologies (for the industrial, municipal, and marine sectors) and the world’s leading swimming pool disinfection components supplier. Leveraging its well-established electrochemical knowledge, proven manufacturing capability, and a supply chain established over the years, the Company has developed and qualified a portfolio of electrodes and components to produce hydrogen through the electrolysis of water, which is critical for the energy transition. In this sector, the company now holds 25.85% of thyssenkrupp nucera AG &Co. KGaA, a joint venture established with the thyssenkrupp group.

Founded in 1923, Industrie De Nora generated total revenues of around EUR 853 million and an Adjusted EBITDA of approx. EUR 191 million in 2022. The Company’s growth process has developed organically through continued penetration of new markets and applications and through acquisitions in the U.S., Asia, and Europe. De Nora’s continuous innovation drives its growth, represented by its evolving intellectual property portfolio, which currently includes more than 260 patent families with more than 2,800 territorial extensions. The De Nora family controls the Group, which owns 53.3% of the Company’s share capital. Snam S.p.A. is a minority shareholder with about 21.6% of the capital.