Green Hydrogen MoU with the Port of Rotterdam

RNS Number : 3938H

Chariot Limited

06 April 2022

 

6 April 2022

Chariot Limited  

("Chariot", the "Company" or the "Group")

Green Hydrogen MoU with the Port of Rotterdam

Progressing distribution channels to help meet European energy demand for Hydrogen

Further to the Company's announcement on 27 September 2021, relating to the green hydrogen project in Mauritania, Chariot (AIM: CHAR), the Africa focused transitional energy company, is pleased to announce that it has signed a Memorandum of Understanding ("MoU") with the Port of Rotterdam International, a global energy hub and Europe's largest seaport which handles a significant portion of Europe's total energy demand.

The MoU represents a first step towards establishing supply chains to import green hydrogen and ammonia to meet expected demand in the Netherlands and other countries in Northwest Europe. The two parties will work together to connect with off-takers and secure contracts for specific volumes.

René van der Plas, Director of Port of Rotterdam International, stated:

"We are excited to be teaming up with Chariot, to help with the distribution element of their green hydrogen project in Mauritania. The project could turn Mauritania into a leading supplier of green hydrogen to Europe, making it one of the largest energy projects of its kind in the world."

Benoit Garrivier, Chariot Transitional Power CEO, commented:

"This MoU is a considerable step forward for us on our green hydrogen project and we are delighted to be working with the Port of Rotterdam, as they look to continue to cement their position as one of the leading energy hubs in Europe. Our green hydrogen project in Mauritania has the potential to establish the country as one of the cheapest producers of green hydrogen. Our ambition is to help the nation become one of the world's main producers and exporters of green hydrogen. We look forward to announcing further developments with this project in due course."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, as retained in the UK pursuant to S3 of the European Union (Withdrawal) Act 2018.

For further information please contact:

Chariot Limited Adonis Pouroulis, Acting CEO Julian Maurice-Williams, CFO	[phone]
Cenkos Securities Plc (Nomad & Joint Broker) Derrick Lee, Adam Rae	[phone]
Peel Hunt (Joint Broker) Richard Crichton, David McKeown	[phone]
Celicourt Communications  (Financial PR) Mark Antelme, Jimmy Lea	[phone]

NOTES FOR EDITORS:

About Chariot

Chariot is an African focused transitional energy group with two business streams, Transitional Gas and Power.

Chariot Transitional Gas is a high value, low risk gas development project offshore Morocco with strong ESG credentials in a fast-growing emerging economy with a clear route to early monetisation, delivery of free cashflow and material exploration upside. Chariot Transitional Power, looking to transform the energy market for mining operations in Africa, providing a giant largely untapped market with cleaner, sustainable, and more reliable power. Additionally in September 2021, Chariot announced its partnership with the Government of Mauritania for the potential development of a large-scale green hydrogen project.

The ordinary shares of Chariot Limited are admitted to trading on the AIM under the symbol 'CHAR'. 

 

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