Budweiser Brewing Group said the £100m hydrogen project would fuel production, heavy goods vehicles and trucks at its Magor brewery in Monmouthshire.
Wales’ rural affairs minister said the project had the potential to “create new jobs and exciting opportunities”.
It comes as the UK government said foreign investment deals in low-carbon sectors would create about 30,000 jobs.
Prime Minister Boris Johnson is set to announce 18 new deals worth £9.7bn later as he opens a global investment summit.
They include investments in sectors such as wind and hydrogen energy, sustainable homes and carbon capture.
Budweiser Brewing Group’s (BBG) project, which is expected to be up and running by 2024, would see the first large-scale hydrogen generation system built at a brewery.
It said using hydrogen technology would help to provide zero-carbon power and fuel for all its operations in a bid to become carbon neutral.
The firm already powers its brewery operations in Magor with 100% renewable electricity from solar farms and an on-site wind turbine.
Mauricio Coindreau, head of sustainability and procurement at BBG, said energy solutions like hydrogen had “huge potential” in helping to cut the firm’s UK carbon footprint.
The group, the UK arm of global brewer Anheuser-Busch InBev, will be working with UK-based hydrogen energy firm Protium, to deliver the plans.
Wales’ rural affairs minister Lesley Griffiths said the project would be “important” towards efforts in tackling climate change.