By Giulia Petroni
OMV AG and Kommunalkredit Austria AG will jointly invest a total of around 25 million euros ($30.3 million) to build an electrolysis plant in the Schwechat refinery in Austria.
The Austrian energy company said Monday that the plant is expected to produce up to 1,500 metric tons of so-called green hydrogen--hydrogen from renewable sources--a year. It is set to go live in the second half of 2023.
Kommunalkredit Austria is a specialist bank for infrastructure and energy financing.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
02-15-21 0446ET