Egypt - Magnom Properties, an Egyptian subsidiary of Rawabi Holding, announced that the Forbes International Tower will be the first-of-its-kind project across the globe to run entirely on the liquid organic hydrogen carrier (LOHC) system.

In a press release, Magnom Properties highlighted that LOHC technology enables hydrogen to be stored, transported, and released in a safe and eco-friendly manner.

Magnom Properties inked a memorandum of understanding (MoU) with Schneider Electric and H2-Enterprises to tap into the long-term potential of clean hydrogen to boost the ambitious zero carbon emission goals of the coming project.

The Forbes International Tower is planned in the UAE, Saudi Arabia, and Egypt. It will tackle critical energy challenges by deploying clean hydrogen produced in a climate-neutral manner from renewable waste sources to power the needs of its operations.

The futuristic tower will deploy the proprietary technologies of H2-Enterprises to generate clean hydrogen by using previously non-recyclable plastics and other organic wastes as feedstock for its energy production. It will also leverage Schneider Electric’s advanced digital solutions for energy management to power the all-time needs of its operations in a sustainable manner.

Magnom Properties and Forbes initially unveiled plans to establish the tower in Egypt’s New Administrative Capital (NAC) last January.

Othman Ibrahim, CEO of Rawabi Holding and Vice Chairman of Magnom Properties, said: “Through this partnership, we aim to elevate the standards of sustainability and environmentally responsible practices in the region’s real estate sector, in line with the ambitious goals of the UN's 2030 Agenda for Sustainable Development.”

Amel Chadli, Vice President of Digital Energy and Software at Schneider Electric Middle East and Africa (MEA), noted: “By leveraging clean hydrogen technology, the Forbes International Tower exemplifies Schneider Electric's vision of Electricity 4.0 and our commitment to achieving net-zero buildings through decarbonisation of energy supply.”

“This landmark project paves the way for a sustainable future, redefining the way we power and shape the built environment in the Middle East and Africa,” Chadli mentioned.

Michael Stusch, Executive Chairman and CEO of H2-Enterprises, indicated: “By joining forces with Schneider Electric as our esteemed partner, we can swiftly deploy this transformative technology at the necessary pace as part of our unwavering commitment to combat climate change and limit global temperature rise to a maximum of 1.5°C by 2030.”

Stusch added: “Through this collaboration and by embracing this innovative technology in future-ready buildings across the globe, we can expedite the transformative process and embrace a sustainable future."

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