AmmPower Corp. CEO Gary Benninger, and Maarten Mobach, President AmmPower Maritime, visit Porto Central in Brazil
TORONTO, ON / ACCESSWIRE / April 6, 2022 / (CSE:AMMP) (OTCQB:AMMPF) (FSE:601A) AmmPower Corp. (the "Company" or "AmmPower") is pleased to announce the completion of a successful business trip to Brazil, where senior management of the Company visited Porto Central, a new industrial port complex under development in Brazil, as well as several potential partners for the green ammonia facility at the site location of Porto Central.
Mr. Benninger and Mr. Mobach visited the site location of the port in the southern end of the State of Espírito Santo in the Municipality of Presidente Kennedy and met during the roadshow with business leaders connected to green energy suppliers, offtakers, local institutions and high-ranked government officials. Espírito Santo State has favorable conditions for the development of renewable energy projects and the potential to play an important role in the national and global production of green hydrogen and green ammonia, generating business opportunities in the state and in the country.
Mr. Benninger stated, "We would like to thank the team at Porto Central, headed by José Salomão Fadlalah, CEO, and supported by Jessica Chan, Commercial Manager, for ensuring a successful roadshow that will be key to the success of our project".
Porto Central is a multipurpose private industrial port complex that is under development in a strategic location at the center of the Brazilian east cost in the Southeast Region of Brazil. It consists of a total area of approximately 2,000 hectares or 4,900 acres. With up to 25 meters draft, Porto Central will be able to receive the largest and most modern ships in the world. In addition, when operational, Porto Central will be one of the most innovative ports and a major green energy hub, offering green hydrogen, along with green ammonia and green fertilizer production.
Mr. Mobach commented, "AmmPower's large-scale green ammonia and hydrogen facility plans to be powered by renewable energy sources, both wind and solar, for which conditions are favorable in the region around Porto Central. AmmPower's facility in Brazil would not only create carbon free fuel for shipping, offering to the market a global marine fuel bunkering station, but also facilitate the domestic demand of Brazil for green energy and global export of green energy."
Figure 1. Gary Benninger, AmmPower CEO, and Maarten Mobach, President AmmPower Maritime, at the project site location, future home of Porto Central and AmmPower's planned green ammonia production facility.
During the trip, Mr. Benninger and Mr. Mobach participated in an event for the business community of Espírito Santo promoted by the Federation of Industries of Espírito Santo (FINDES) with the theme "Opportunities for Hydrogen and Green Ammonia in Espírito Santo together with Porto Central". The event was part of a movement to disseminate the theme, as green hydrogen and green ammonia emerge as one of the main paths for global decarbonization, mobilizing efforts by countries and companies to reduce greenhouse gas emissions and, consequently, the socio-environmental and economic impacts on the planet.
Figure 2. Salomão Fadlalah, CEO Porto Central, Renan Chiepe, President Fetransportes - Federation of State Transport Companies, Cris Samorini, President FINDES - Federation of Industries of Espírito Santo, Gary Benninger, CEO AmmPower, and Maarten Mobach, President AmmPower Maritime.
On Behalf of the Board of Directors
Gary Benninger
Chief Executive Officer
About AmmPower
AmmPower is a clean energy company focused on the production of green ammonia. The Company is based in Toronto, Ontario, with a research and manufacturing facility in Southeast Michigan. The company is active in all facets of green ammonia production, including the production of green fertilizers, carbon free shipping fuel, and the ‘cracking', or moving of green hydrogen as ammonia. The company is working on the development of proprietary technologies to produce green ammonia and green hydrogen at scale, including the investigation of unique catalytic reactions to bring down costs and to take advantage of carbon credits in the renewable energy space. AmmPower currently holds several LOIs with ports in Brazil, the United States, and is currently completing its IAMM™ prototype to create green ammonia for the agricultural industry. The company also holds a lithium exploration property in the James Bay/Eeyou Istche region of Quebec and an option on the Titan Property located in Klotz Lake area in Northwestern Ontario.
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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 planned construction of an ammonia production facility in Espirito Santo, Brazil, the expected output of such planned facility, and the ability of the Company to obtain funding, regulatory approvals, customers and partners for such planned facility. 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 to, the risk that the planned ammonia production facility in Espirito Santo, Brazil may not be built or developed as planned, or at all, including due to the Company's inability to obtain funding, regulatory approvals, customers or partners for such facility, either as contemplated or at all, and those risks 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.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
SOURCE: AmmPower