2025 Oman Hydrogen Energy and Fuel Cell Exhibition (OEVS 2025)

Fuel cells in Oman are currently at the stage of 'simultaneous incubation and localized pilot deployment'. Although large-scale application has not yet commenced, localized demonstration projects have already begun in sectors such as transportation, ports, and backup power systems. Oman pays particular attention to the adaptability of high-temperature fuel cells—such as solid oxide fuel cells (SOFCs)—to its local high-temperature environment, while also exploring the potential use of proton exchange membrane fuel cells (PEMFCs) in future urban public transport systems. Through small-scale validation, Oman aims to lay a domestic technological foundation for integrating fuel cells into its energy structure transformation. Another distinctive feature of Oman’s hydrogen energy and fuel cell industry is 'international capital leadership with local supporting follow-up'. Major large-scale hydrogen projects are led and funded by European and Asian energy giants—including Shell, ENGIE, BP, and Mitsui & Co.—yet Oman is gradually cultivating local supply-chain enterprises covering electrolyzer manufacturing, infrastructure construction, and operation & maintenance services. As projects materialize, the share of Omani local firms across the entire hydrogen value chain is expected to rise steadily, thereby fostering a healthier, more localized industrial ecosystem. VI. Market Dynamics of Hydrogen Energy and Fuel Cells in the Middle East (Oman) Starting in 2025, Oman’s hydrogen energy market is exhibiting a new trend of 'intensified project tendering'. Hydrom plans to launch green hydrogen project tenders annually in phased batches, attracting more international developers. This model—releasing resources steadily year after year—helps prevent excessive early-stage investment concentration, ensures continuity and quality of market competition, and enables Oman to gradually establish a transparent, efficient approval and development mechanism for hydrogen projects. In terms of capital flows, a new dynamic—'fund-based investment'—has emerged in Oman’s hydrogen sector. In addition to direct investments by traditional energy majors, a number of private equity funds and sovereign wealth funds specializing in green energy have launched dedicated hydrogen investment vehicles, pursuing diversified, portfolio-style deployments targeting the Omani market. This shift in capital structure enhances project diversification, reduces overreliance on any single major investor, and strengthens overall project resilience. At the technology collaboration level, Oman is engaging in deep joint R&D with leading international institutions in areas including electrolysis technology, hydrogen storage and transportation, and high-temperature-resistant fuel cell materials. Particularly in cutting-edge domains—such as high-efficiency seawater desalination for hydrogen production, large-scale integration of electrolyzers, and long-distance hydrogen transport solutions—Oman actively imports external innovation to achieve 'leapfrog advancement' in frontier applications, thereby enhancing overall project competitiveness and cost advantages for exported hydrogen. Regarding domestic demand activation, Oman has begun promoting the construction of 'hydrogen pilot consumption scenarios', for example introducing hydrogen-powered trucks and forklifts, as well as backup power generation equipment, within major ports and industrial parks. It has also established green certification schemes to incentivize industrial customers to procure green hydrogen. By nurturing a small-scale, localized demand market in advance, Oman seeks to establish its domestic hydrogen application chain—and mature its local supply chain and O&M capabilities—before large-scale international hydrogen exports commence. VII. Market Share of Hydrogen Energy and Fuel Cells in the Middle East (Oman) 1. Key Brands in the Hydrogen Energy Sector Shell: Primarily investing in large-scale green hydrogen projects in Oman, focusing on export-oriented hydrogen production bases. ENGIE (Engie Group): Deeply involved in Oman’s green hydrogen production and electrolytic hydrogen infrastructure development.

Globally renowned financial investment institutions

1. The Blackstone Group (NYSE: BX), also translated as 'Baitong Group', is a prominent U.S.-based private equity and investment management firm founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson. Its global headquarters is located in Manhattan, New York City, with offices in Atlanta, Boston, London, Düsseldorf, Paris, Madrid, Sydney, Tokyo, Singapore, Beijing, Shanghai, Hong Kong, Mumbai, and Dubai. 2. Kohlberg Kravis Roberts & Co. (commonly abbreviated as KKR; Euronext: KKR, NYSE: KKR) is a U.S.-based private equity firm headquartered in New York City. KKR sponsors and manages numerous investment funds, primarily focusing on leveraged buyouts of mature companies. Since its founding, the firm has completed over $400 billion in private equity transactions and has become a pioneer and leader in the leveraged buyout space. 3. Apollo Global Management, Inc. is a U.S.-based investment management company founded in 1990 by Leon Black, Josh Harris, and Marc Rowan. Its primary investment areas include credit, private equity, and real assets. As of December 31, 2020, the firm managed $455.5 billion in assets—of which $328.6 billion was allocated to credit investments (including mezzanine capital, hedge funds, distressed debt, and mortgage loans), $80.7 billion to private equity, and $46.2 billion to real assets such as real estate and infrastructure. Apollo serves pension funds, university endowments, sovereign wealth funds, and other institutional and individual investors. Since its inception, Apollo-managed private equity funds have delivered a 24% internal rate of return (IRR) to investors. 4. The Carlyle Group (formerly translated as 'Carlyle Group'), founded in 1987 by David Rubenstein and others, is a U.S.-based private equity firm headquartered in Washington, D.C. Its core businesses include corporate acquisitions and mergers, real estate, leveraged finance, and venture capital. Its investment sectors span aerospace and defense, consumer retail, energy, healthcare, technology, telecommunications, media, and transportation. With over $376 billion in assets under management, Carlyle delivers an average annual return of 35% to its investors and is often referred to as the 'Presidents’ Club'. 5. Brookfield Asset Management Inc. is a Canadian–American asset management company headquartered at Brookfield Place in Toronto and in New York City. Founded in 1899, it originally operated as a power provider and transportation infrastructure builder in Brazil. Its former name was 'Brascan'—a portmanteau of 'Brasil' and 'Canada'. Today, its original Brazilian operations have been spun off into a separate company named Light.

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