AmmPower Corp (CSE: AMMP) is going to Brazil. The company this morning announced a memorandum of understanding with Porto Central, a new deepwater industrial port complex being developed in the state of Espirito Santo.
The memorandum of understanding will see AmmPower develop a green ammonia production facility, which will also house storage and distribution. The production of ammonia is said to help with port energy solutions, with the fuel to also be used for shipping, while the bulk fluid terminal, known as Porto Central Energy Terminal, will enable the company to move hydrogen and ammonia through the region.
Porto Central is currently in development, with the industrial complex said to support several types of terminals and industries in the region, including oil & gas, energy generation, mining, cargo, and others. The port is to open to region to global shipping routes, while also serving as an energy hub. For the latter, AmmPower is said to be working with the port to “deliver energy and power to the national grid.”
“This is an incredible step forward for AmmPower to be able to work with Porto Central to create one of the leading clean energy ports in the world. AmmPower’s technology will allow Porto Central to use green hydrogen and ammonia as fuel for the large ships at its port, as well as the small tugboats and other machinery at site. Furthermore, the ability to help provide clean power to Brazil’s national grid, and produce clean fertilizer for their large population presents a huge opportunity.”Dr. Gary Benninger, AmmPower CEO
The first phase of development of the port is said to include the Porto Central Energy Terminal, where AmmPower will produce ammonia. Ammonia produced on site will be used to support energy infrastructure, to fuel the marine industry, for fertilizer, and for the movement of hydrogen.
AmmPower Corp last traded at $0.74 on the CSE.
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