Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 27 views

    OCI Global Enters Into Green Hydrogen Supply Agreement

    Uploaded by

    Fatima Bahtic
    OCI Global, a world-leading producer of ammonia and methanol, has signed an agreement to purchase green hydrogen from New Fortress Energy's ZeroParks facilities beginning in 2025. This will allow OCI Global to significantly increase its green ammonia production capacity at its Beaumont, Texas plant to approximately 160,000 tons per year. New Fortress Energy will produce the green hydrogen using electrolyzers powered by renewable energy and deliver it to OCI's facilities. The agreement supports both companies' goals of expanding renewable fuel production and decarbonizing industries like agriculture and shipping.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    OCI Global Enters Into Green Hydrogen Supply Agreement

    Uploaded by

    Fatima Bahtic
    27 views2 pages
    OCI Global, a world-leading producer of ammonia and methanol, has signed an agreement to purchase green hydrogen from New Fortress Energy's ZeroParks facilities beginning in 2025. This will allow OCI Global to significantly increase its green ammonia production capacity at its Beaumont, Texas plant to approximately 160,000 tons per year. New Fortress Energy will produce the green hydrogen using electrolyzers powered by renewable energy and deliver it to OCI's facilities. The agreement supports both companies' goals of expanding renewable fuel production and decarbonizing industries like agriculture and shipping.

    Original Title

    OCI Global enters into green hydrogen supply agreement

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    OCI Global, a world-leading producer of ammonia and methanol, has signed an agreement to purchase green hydrogen from New Fortress Energy's ZeroParks facilities beginning in 2025. This will allow OCI Global to significantly increase its green ammonia production capacity at its Beaumont, Texas plant to approximately 160,000 tons per year. New Fortress Energy will produce the green hydrogen using electrolyzers powered by renewable energy and deliver it to OCI's facilities. The agreement supports both companies' goals of expanding renewable fuel production and decarbonizing industries like agriculture and shipping.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    27 views2 pages

    OCI Global Enters Into Green Hydrogen Supply Agreement

    Uploaded by

    Fatima Bahtic
    OCI Global, a world-leading producer of ammonia and methanol, has signed an agreement to purchase green hydrogen from New Fortress Energy's ZeroParks facilities beginning in 2025. This will allow OCI Global to significantly increase its green ammonia production capacity at its Beaumont, Texas plant to approximately 160,000 tons per year. New Fortress Energy will produce the green hydrogen using electrolyzers powered by renewable energy and deliver it to OCI's facilities. The agreement supports both companies' goals of expanding renewable fuel production and decarbonizing industries like agriculture and shipping.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Amsterdam, The Netherlands 15 Sept 2023

    OCI Global enters into green hydrogen supply agreement with New
    Fortress Energy's ZeroParks for green ammonia production in
    Texas

    OCI Global (Euronext: OCI), a world-leading producer of ammonia and methanol has today
    announced an agreement to offtake green hydrogen from New Fortress Energy Inc.’s (NFE)
    (NASDAQ: NFE) ZeroParks beginning in 2025, following a competitive bidding process. The
    agreement will allow OCI Global to significantly scale up green ammonia production capacity to
    approximately 160,000 tons per year in Beaumont, Texas.

    This agreement follows the 100-megawatt (MW) electrolyzer system order from Electric Hydrogen Co.
    (EH2) announced by New Fortress Energy on Tuesday. The green hydrogen will be produced by
    ZeroParks, NFE’s hydrogen business, using proton exchange membrane (PEM) technology and
    delivered to OCI’s facilities in Beaumont, Texas where it will then be converted into green ammonia.
    NFE’s first green hydrogen project, ZeroPark I, will come online in two phases; the first phase in 2025,
    allowing OCI to produce approximately 80,000 tons per year of green ammonia and the second, in
    2026, doubling OCI’s production capacity to 160,000 tons per year.

    OCI produced its first tons of hydrogen-based green ammonia earlier this year at its Egypt Green
    facility, which is owned by Fertiglobe, a strategic partnership between OCI Global and ADNOC.
    Scaling its global green hydrogen-based production with capacity in the U.S. confirms OCI’s
    leadership in low carbon and renewable ammonia to meet the coming demand from emerging
    applications including as a shipping fuel and for power generation, and to decarbonize existing end-
    markets including the agricultural and industrial space. Green hydrogen can also be used to produce
    green methanol, the fuel choice for the decarbonization of shipping and road fuels today.

    The new plans complement the company’s large-scale blue ammonia project in Texas, in partnership
    with Linde plc (NYSE: LIN), which is scheduled to begin production in 2025. The new ammonia site
    has been developed so it can use green hydrogen as a feedstock in the future to further increase
    OCI’s green ammonia production capabilities.

    By leveraging its existing infrastructure, OCI can scale production to meet growing demand at pace
    and without significant capital expenditure, while leveraging the incentives offered under the Inflation
    Reduction Act’s 45V program.

    Nassef Sawiris, Executive Chair, OCI Global said:

    “Today’s announcement cements OCI’s continued focus on the energy transition and hydrogen fuels,
    representing another milestone in our decarbonization journey as a business. Ammonia and methanol
    are the logical hydrogen carriers to drive this transition and the coming demand from the
    transportation sector provides the foundation for our scale-up in production and new technologies.
    NFE is an established energy player and developer and we are excited to start this partnership with
    them at our Beaumont complex, which is ideally located in the center of the Gulf Coast, allowing us to
    continue to increase and optimize our over-the-fence feedstock portfolio.”

    Wes Edens, Chairman and CEO, New Fortress Energy said:

    “OCI is a leading global producer and distributor of hydrogen-based products and today’s
    announcement showcases our focus on developing green hydrogen projects of scale to successfully
    decarbonize hard-to-abate corners of the global economy such as agriculture, power, and marine
    fuels. OCI is already at the forefront of decarbonization efforts in the international arena which made
    them a clear and solid choice as a partner.”

    The transactions described in this press release are subject to customary terms and conditions.

    Page 1
    -Ends-
    ABOUT OCI GLOBAL & OCI HYFUELS

    We are a global leader in nitrogen, methanol, and hydrogen, driving forward the decarbonization of the
    energy-intensive industries that shape, feed and fuel the world. OCI’s production capacity spans four
    continents and comprises approximately 16.8 million metric tons per year of hydrogen-based products
    including ammonia, nitrogen fertilizers, methanol, biofuels, diesel exhaust fluid and melamine. OCI has
    more than 4,000 employees, is headquartered in the Netherlands and listed on Euronext in
    Amsterdam.

    OCI HyFuels was established in 2015 to provide customers in the road, marine, power, and industrial
    sectors with renewable and low-carbon fuel alternatives to meet evolving regulatory requirements. OCI
    HyFuels is a pioneer in and the world’s largest producer and distributor of green methanol, including
    the production of biomethanol and bio-MTBE, and trading and distribution capabilities for renewable
    natural gas and ethanol.

    Learn more about OCI at www.oci-global.com. You can also follow OCI on LinkedIn.

    ABOUT NEW FORTRESS ENERGY

    New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to
    address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy.
    The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an
    integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global
    markets. Collectively, the company’s assets and operations reinforce global energy security, enable
    economic growth, enhance environmental stewardship, and transform local industries and
    communities around the world.

    For more specific information about NFE’s ZeroParks: https://www.newfortressenergy.com/zero

    FOR MORE INFORMATION CONTACT:

    OCI Global Investor Relations OCI Global Communications

    Hans Zayed, Director Gillian Daines, Global Head of Communications


    Email: hans.zayed@oci-global.com Email: gillian.daines@oci-global.com
    Tel: +31 (0) 6 18 251 367 Tel: +44 (0) 7752 785826

    NFE ZeroParks Investor Relations Media Relations

    Jonathan Sisto Ben Porritt


    irzero@newfortressenergy.com press@newfortressenergy.com

    Page 2

    You might also like