Following the successful financial close on the world’s largest green hydrogen plant, David Edmondson, CEO of NEOM Green Hydrogen Company, will return to Air Products. He will be succeeded by Wesam Y. Alghamdi who will transition into the role in January 2024.
NEOM, Saudi Arabia – October 26, 2023: NEOM Green Hydrogen Company (NGHC) Chairman, Nadhmi Al-Nasr, announced today that following the successful financial close on the world’s largest green hydrogen plant, David Edmondson, CEO of NGHC, will return to Air Products and be succeeded by Wesam Y. Alghamdi. In this planned leadership transition, Edmondson will remain CEO until the end of the year to ensure a smooth and seamless handover of responsibilities. As of January 1, 2024, Edmondson will return to Air Products, where he will continue to play an instrumental role in the development of Air Products’ green hydrogen strategy in support of the energy transition market.
Since joining NGHC, Edmondson has led the development of the plant in collaboration with NGHC shareholders such as ACWA Power, Air Products, and NEOM, ultimately resulting in the establishment of the company. In July 2021, Edmondson took on the position of CEO, becoming responsible for overseeing project financing and the initial company build-out. Edmondson has been instrumental in developing human capital capabilities in line with Saudi Vision 2030, while effectively managing the successful conclusion of all project agreements. Under his guidance, NGHC accomplished full financial close on the plant in May 2023, with a total investment value of USD 8.4 billion. The funding includes a significant amount of USD 6.1 billion in non-recourse financing from 23 local, regional, and international banks and financial institutions.
Nadhmi Al-Nasr, Chairman, NEOM Green Hydrogen Company, and Chief Executive Officer, NEOM said:
“With full financial close on the plant, we are a significant step closer to revolutionizing the global energy market through the production of green hydrogen at scale. The focus of the next two years at NGHC will be to complete the construction of the giga-scale facility for the operational phase of the project. I would like to express my gratitude to David for his vision and commitment during the initial phase of the world’s largest green hydrogen plant. Additionally, I would like to welcome Wesam Y. Alghamdi, who will now lead the execution of the project to its completion.”
Joining NGHC this month, Alghamdi brings over 25 years of cross-function senior leadership, including engineering, operations, and project management in diverse industry segments with Maaden, Sabic and Shell. An alumnus of King Fahd University of Petroleum and Minerals (KFUPM), Alghamdi has a strong track record of performance anchored in strategic planning and technical execution, which will be pivotal in leading the company’s next era of growth.
Located at Oxagon in Saudi Arabia’s northwestern region of NEOM, NGHC’s mega-plant is an equal joint venture between ACWA Power, Air Products, and NEOM. Once operational by the end of 2026, the plant will integrate up to 4GW of solar and wind energy to produce approximately 600 tonnes per day of carbon-free hydrogen, specifically in the form of green ammonia. Air Products has an exclusive 30-year off-take agreement for all the green ammonia produced at the facility, which will be used in transportation and industrial sectors worldwide. This agreement will unlock the economic potential of renewable energy throughout the entire value chain.