Green Energy Park Raises 30 million US Dollars in Initial Equity Funding to Accelerate the Energy Transition and to Build One of the Largest Renewable Hydrogen Production and Export Terminal Facilities in the World

SAO PAULO, BRAZIL / ACCESSWIRE / April 26, 2024 / Today, Green Energy Park announces a major milestone on its journey to build one of the largest hydrogen and hydrogen derivatives production plants in the world. The company has signed a definitive agreement for 30 million US Dollars Series-A funding and has obtained the long-term rights to the hydrogen port terminal facilities in Luis Correia, Brazil. This initial funding round underscores the strong interest among a broad range of strategic partners, global offtakers, and financial institutions to commit the resources for building the world-scale hydrogen production and integrated port terminal facilities in Piaui, Brazil.

Victor Hugo Almeida (CEO of Investe Piaui, left), Rafael Tajra Fonteles (Governor of the State of Piaui, middle), Bart Biebuyck (CEO of Green Energy Park, right) signing the Series-A funding agreement in Sao Paulo, Brazil

Green Energy Park (GEP) is implementing one of the largest climate impact undertakings in the world. The company was founded in 2023 with the purpose of producing renewable hydrogen in the most cost competitive locations with an initial focus on the world-class conditions in the North-East of Brazil. GEP will distribute its green fuels to offtakers in industry and transport with a mission to help decarbonize the hard-to-abate sectors of the economy.

Green Energy Park Piaui is the company's first hydrogen production plant, targeting 10.8 GW of electrolyzer capacity when fully built. The integrated hydrogen and hydrogen derivatives production facilities feature some of the most advance process engineering designs from the liquified natural gas and ammonia business. Green Energy Park has deep engineering and EPC expertise in the field of cryogenic gas handling and storage, which is combined with dedicated construction implementation capabilities.

To achieve cost leadership in renewable hydrogen, Green Energy Park sources world-class renewable electricity input, feeding state-of-the-art electrolyzer technologies, implemented on a purpose-build and standardized production infrastructure.

Working closely with offtakers around the world enables a novel approach to design, build, and operate a vertically integrated hydrogen supply chain. Green Energy Park is partnering with a wide range of energy users offering a cost-competitive solution to their decarbonization needs.

Representatives from Green Energy Park, Investe Piaui and the State of Piaui on stage after signing of the agreement

Bart Biebuyck, CEO of Green Energy Park said:

"The world is at risk of falling behind its climate goals.

The urgency to act is now. Despite the many efforts and programs to arrest climate change, emissions from fossil fuels, including coal, oil, and gas, have reached a new record in 2023.

To achieve Net Zero carbon emissions by 2050, we need to install 6,000 gigawatts of electrolyzer capacity around the world. This is a monumental task.

The good news is that it can be done. It is not too late to act. But we must act now!

Therefore, at Green Energy Park, we are on a singular mission: To produce the lowest-cost renewable hydrogen at the gigawatts scale.

To achieve our ambitious goal, we combine cutting-edge hydrogen production technologies, with innovative process engineering solutions, at one of the most advantageous sites for renewable hydrogen production in the world, in the State of Piaui, Brazil.

In short, Piaui is set to become our ground zero of the hydrogen revolution. Therefore, we are incredibly proud of our strong partnership with the State of Piaui on this critical mission."

Victor Hugo Almeida, CEO of Investe Piaui said:

"The State of Piaui offers some of best conditions in the world for producing green hydrogen. The State Government, and the Governor, Rafael Fonteles, are fully committed to unlocking the great potential of our unique natural resource endowment to the benefit of our citizens, the climate, and indeed the world.

Green Energy Park provides our State with a tremendous opportunity for a bright future. The world-scale hydrogen project will create thousands of high-quality jobs in our state and will accelerate a green industrialization of our economy. We want to attract international businesses to build a world-scale hydrogen cluster by creating a favorable investment environment with strong support by the State of Piaui. Therefore, we are implementing an innovative approach for a green industrialization of our country, for others to follow in Brazil and beyond.

We are incredibly proud that Green Energy Park has chosen Piaui to implement the most advanced hydrogen production facility in the world. The government will fully support the undertaking and is well prepared to help this global flagship project to succeed."

About Green Energy Park

Green Energy Park Global is a vertically integrated, renewable energy franchise, that shares know-how, technologies, experience, and best practices between its global partners. The focus is on leading hydrogen technology applications with ammonia as the renewable energy carrier of choice.

The company's objective is to develop, finance, build, and operate renewable energy facilities under a common brand. GEP seeks to unite upstream, midstream, and downstream facilities around shared values and a common mission.

GEP's mission is to engineer and build a "Global Standard" for large-scale hydrogen and ammonia production, powered by renewable energy sources. To achieve cost leadership in renewable hydrogen the company combines cutting-edge electrolyzer technologies with a purpose-build and standardized production infrastructure.

Green Energy Park's purpose is to positively impact society by accelerating the energy transition and make the hydrogen economy a reality.

General Enquiries:

Loreta Pacipaviciute, Mariia Popovych
media@gep-global.com

Investor Relations:

Mario Reinisch, Director Finance and Corporate Development
mario@gep-global.com

SOURCE: Green Energy Park