EMSTEEL, a large publicly listed steel and building materials company in the UAE, and Gulf Cryo, a CCU developer, have signed a strategic Memorandum of Understanding (MoU) to advance the development of a fully integrated carbon business model across EMSTEEL’s operations.
The agreement will cover both carbon capture at source and the
implementation of innovative downstream carbon utilisation, conversion and
storage solutions, with the aim of establishing an integrated value chain from
emissions to end-use applications.
In parallel, the initiative supports EMSTEEL’s international
market positioning by aligning with evolving global carbon regulations and
taxonomies.
The signing took place during Make it in the Emirates
(MITTE) in the presence of Saeed Al Remeithi, Group Chief Executive Officer of
EMSTEEL, and Ranjith Nair, Chief Executive Officer of Gulf Cryo, together with
senior leaders from both organisations.
Elie Adaimy, Group Head Business Development and Innovation
at Gulf Cryo, commented: “With EMSTEEL, we are advancing a model where carbon capture
at source is fully integrated into a sustainable value chain. This is key to
accelerating and derisking industrial decarbonisation. Gulf Cryo connects
industries, technologies, infrastructure, and end markets to unlock the value
of captured carbon at scale and enable the emergence of new low-carbon
industrial ecosystems.” He added “This collaboration with EMSTEEL reflects a shared
strategic vision for decarbonisation – innovation-driven, scalable, and
anchored in practical industrial implementation.” -TradeArabia News Service
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