AmmPower Corp. Signs MOU to Provide Green Ammonia Energy Solutions to Porto Central in Brazil
Brazil's Newest Deep-Water Port, Located in the South of State of Espírito Santo Near State Border With Rio de JaneiroVANCOUVER, July 26, 2021 - AmmPower Corp. (CSE:AMMP)(OTCQB:AMMPF)(FSE:601A) (the "Company" or "AmmPower") is pleased to announce that is has entered into an MOU (Memorandum of Understanding) with Porto Central, located in the State of Espírito Santo, near the state border with Rio de Janeiro, in Brazil, for the development of a green ammonia production facility, storage and distribution. Porto Central is being developed as a new deep-water multipurpose industrial port complex, with access to highways, future railways, and other infrastructure. Currently in development, Porto Central will accommodate different types of terminals and industries that will efficiently serve strategic economic sectors, such as oil & gas, energy generation, offshore support, agriculture, mining, container, general cargo and industries, serving an extensive hinterland in Brazil, as well as enable shipping routes around the world.
AmmPower will deliver its unique green ammonia technology, to help with port energy solutions, including the production of green ammonia fuel to be used for shipping. Porto Central, through its liquid bulk terminal known as "Porto Central Energy Terminal", will allow AmmPower to move clean hydrogen and ammonia throughout the region where necessary. Porto Central will also serve as an energy hub, and will work with AmmPower to deliver energy and power to the national grid, as well as internationally.
Porto Central is strategically located at the centre of the Brazilian east coast in the Southeast Region of Brazil, which represents over 65% of the country's total GDP, near to the strongest production center and with a market of over 100 million consumers. AmmPower will be able to supply ammonia for a variety of uses, including energy infrastructure, the movement of Hydrogen, fuel for the marine industry, and fertilizer for Brazil's huge agricultural requirements. Currently Brazil imports 90% of its fertilizer, and AmmPower seeks to help create increased self-sufficiency in the agricultural space and food industry.
Dr. Gary Benninger, AmmPower CEO, states, "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."
Brazil has over 200 million people, and is strategically located for its access for world-wide shipping routes, being Porto Central the most efficient maritime route to Asia and the Middle East.
Master Plan Layout of Porto Central
ABOUT PORTO CENTRAL
Covering over 20 million square metres, Porto Central will serve as one of Brazil's newest deep water industrial port complex, allowing for 25 meter drafting, and capable of hosting the world's largest vessels. The port will handle different type of cargoes, such as crude oil & gas, energy, offshore supply, grains, fertilizers, ores, containers, general cargo, among others, with a potential demand that amounts to 220 million tons of cargo per year. Porto Central has access to major highways of the country, and the port will soon be integrated into the country's new railway infrastructure that will allow transportation of iron ore, soybeans, corn, fertilizer, general cargoes and containers.
The First Phase of the port will consolidate the beginning of the development of Porto Central Energy Hub, amongst which includes the handling of crude oil, import and distribution of oil products and receipt of liquefied natural gas (LNG) to supply the thermoelectric plants under development at the port. The strategic location of the port in a region with high potential for renewable energy generation allows the production of green hydrogen and ammonia on a large scale in Porto Central to serve the domestic and international markets. Through its liquid bulk terminal, Porto Central will serve as an important oil, gas & energy hub distribution centre for the region, and AmmPower will assist in moving green hydrogen and ammonia throughout the region.
Porto Central will serve the areas that consist of the States of Espírito Santo, Minas Gerais, Goías, Mato Grosso, São Paulo and Rio de Janeiro, which together represent more than 64% of Brazil's GDP and have great importance in agricultural production and iron ore and industrial activities.
Jose Salomão Fadlalah, Porto Central CEO states, "The partnership with AmmPower is fully in line with the goals of Porto Central to develop a Clean and Green Energy Hub, creating a sustainable business infrastructure helping to accelerating the energy transition"
On Behalf of the Board of Directors
Gary Benninger
Chief Executive Officer
About AmmPower
AmmPower is a resource exploration company with an increasing focus on clean energy. The Company is based in Vancouver, BC and owns the Whabouchi South lithium exploration property located in the James Bay/Eeyou Istche region of Quebec and holds an option over the Titan Property located in the Klotz Lake area in Northwestern Ontario. In addition, together with its partner, ORF Technologies Inc., based in Toronto, Canada, the Company is working on the development of a proprietary solution to produce green ammonia and green hydrogen, and is also investigating revolutionary catalyst methods to react Nitrogen and Hydrogen together with the aim of creating 100% clean, and cost effective green, turquoise, and blue ammonia.
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Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to the expected timing of its name and ticker symbol changes. All statements within, other than statements of historical fact, are to be considered forward-looking. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
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SOURCE: AmmPower Corp.
