Oracle Power PLC MoU with U.S. Hydrogen Fuel Cell Company
2022年6月27日 - 3:00PM
RNSニュース (英語)
TIDMORCP
Oracle Power PLC
27 June 2022
27 June 2022
Oracle Power PLC
("Oracle", the "Company" or the "Group")
MoU with U.S. hydrogen fuel cell company to explore heavy-duty
transport & port infrastructure development
Oracle Power PLC (AIM:ORCP), the international natural resources
project developer, is pleased to announce that it has signed a
non-binding Memorandum of Understanding ( "MoU") with Nuvera Fuel
Cells LLC ("Nuvera") to jointly explore opportunities for
de-carbonised heavy-duty transport and port infrastructure in
Pakistan powered by green hydrogen.
Nuvera, headquartered in Massachusetts, is enabling hydrogen
vehicle adoption. Nuvera manufactures heavy-duty, zero-emission
fuel cell engines for mobility applications. With teams located in
the U.S., Europe and Asia, Nuvera provides clean, safe and
efficient products designed to meet the rigorous needs of
industrial vehicles and other transportations markets.
The MoU provides a framework in which Oracle and Nuvera will
collaborate to identify and build relationships with customers in
Pakistan, which may become an early adopter for zero-emission
mobility. The two parties will also coordinate and work with the
governments of Sindh and Pakistan to obtain required support for
setting up for hydrogen mobility infrastructure. Oracle and Nuvera
intend to cooperate in the demonstration of fuel cell-powered
heavy-duty vehicles.
Naheed Memon, CEO of Oracle, commented:
"Building on our recent developments in the hydrogen industry,
including our JV partnership supported by His Highness Shaikh Ahmed
Dalmook Al Maktoum, the MoU with Nuvera provides us with a highly
attractive opportunity to commercialise this ground-breaking fuel
source. Working with Nuvera, a pioneer in zero-emission fuel cell
engines, will equip Oracle with the technical expertise to bring
the benefits of the clean, safe and highly efficient green hydrogen
fuel cells to the industrial vehicle market in Pakistan.
"Oracle is now carving out a prominent position in the
southern-Asian energy and power industry, supported by influential,
relevant and experienced partners, to advance our ambitions to
establish and commercialise the first green hydrogen facility in
Pakistan."
*ENDS*
For further information:
Oracle Power PLC +44 (0) 203 580
Naheed Memon - CEO 4314
St Brides Partners Limited (Financial
PR) +44 (0) 20 7236
Susie Geliher, Selina Lovell 1177
About Oracle Power PLC
Oracle Power PLC is an international natural resource and power
project developer quoted on London's AIM market. The Company holds
two highly prospective gold assets in two globally significant gold
regions of Western Australia. The Northern Zone Project is located
25km east of the major gold mining centre of Kalgoorlie, the home
of the 'Super Pit' mine, the second largest gold mine in Australia,
and the Jundee East Gold Project is located 9km east of Northern
Star's Jundee Gold Mine, one of Australia's largest gold mines.
The Company is also active in the power industry in Pakistan and
is working to establish a green hydrogen production facility in the
Sindh Province through its joint venture company, Oracle Energy.
The company's initial project is the Thar Block VI Project in
south-east Pakistan where it is advancing plans for a combined
lignite coal mine, a 1,320 MW mine mouth power plant and a proposed
coal gasification to urea project.
ABOUT NUVERA FUEL CELLS, LLC
Nuvera Fuel Cells, LLC is a manufacturer of heavy-duty,
zero-emission engines for mobility applications. With teams located
in the U.S., Europe, and Asia, Nuvera provides clean, safe, and
efficient products designed to meet the rigorous needs of
industrial vehicles and other transportation markets.
Nuvera is a subsidiary of Hyster-Yale Group, Inc., which
designs, engineers, manufactures, sells, and services a
comprehensive line of lift trucks and aftermarket parts marketed
globally primarily under the Hyster(R) and Yale(R) brand names.
Hyster-Yale Group is a wholly owned subsidiary of Hyster-Yale
Materials Handling, Inc. (NYSE:HY). Hyster-Yale Materials Handling,
Inc. and its subsidiaries, headquartered in Cleveland, Ohio, employ
approximately 8,100 people worldwide.
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