Saudi Arabia’s Aramco, the world’s largest oil producer, is investing in a range of decarbonization technologies, including lower-carbon hydrogen, direct air capture, and CO2 sequestration.

Aramco announced on Monday that it is in the process of signing a deal with Danish decarbonisation company Topsoe to build a demonstration lower-carbon hydrogen plant in the kingdom. The plant will use renewable electricity to produce lower-carbon hydrogen for use in power generation, with resulting carbon dioxide captured and sequestered.

Aramco is also collaborating with Siemens Energy to develop a direct air capture test unit in the Saudi city of Dhahran with the capacity to removed 12 tons of CO2 from the atmosphere a year. The unit is expected to be completed in 2024.

In addition, Aramco has successfully piloted a new method of CO2 sequestration which involves “dissolving CO2 in water and injecting it into volcanic rocks” in Jazan, Saudi Arabia.

Aramco is also exploring tapping into geothermal energy to grow its renewable portfolio and has identified and mapped three potential areas on the kingdom’s west coast.

These investments are part of Aramco’s broader strategy to reduce its carbon footprint and achieve net zero emissions by 2050. Aramco’s decarbonization investments have the potential to have a significant impact on the global energy industry. Aramco is one of the world’s largest energy companies, and its investments in decarbonization technologies could help to accelerate the transition to a clean energy future.

Aramco’s investments could also lead to the development of new technologies and businesses that support the global transition to a clean energy future.