Green Energy Park Raises $30 Million, Secures Brazilian Hydrogen Port Terminal Access

Green Energy Park reached a significant milestone on April 24, 2024, in its endeavor to construct one of the world's largest hydrogen and hydrogen derivatives production plants. The company finalized a definitive agreement securing $30 million in Series-A funding and obtained long-term rights to the hydrogen port terminal facilities located in Luis Correia, Brazil. This inaugural funding round highlights the substantial interest from diverse strategic partners, global offtakers, and financial institutions in allocating resources for the development of the extensive hydrogen production and integrated port terminal facilities in Piaui, Brazil.

Green Energy Park (GEP) is executing one of the most substantial climate impact initiatives globally. Established in 2023, the company aims to produce renewable hydrogen in highly cost-competitive regions, initially concentrating on the exceptional conditions present in Northeast Brazil. GEP intends to supply its environmentally friendly fuels to industry and transportation partners, with a core mission of aiding the decarbonization efforts in challenging sectors of the economy.

Green Energy Park Piaui represents the company's inaugural hydrogen production facility, with a planned capacity of 10.8 GW for electrolyzers upon completion. These integrated production facilities for hydrogen and its derivatives incorporate cutting-edge process engineering designs inspired by the liquefied natural gas and ammonia sectors. Leveraging extensive engineering and EPC (Engineering, Procurement, and Construction) proficiency in cryogenic gas handling and storage, Green Energy Park combines this expertise with specialized construction implementation capabilities.

In pursuit of cost leadership in renewable hydrogen production, Green Energy Park procures top-tier renewable electricity inputs. These inputs power state-of-the-art electrolyzer technologies, integrated into purpose-built and standardized production infrastructure.

Collaborating closely with offtakers worldwide facilitates an innovative strategy for designing, constructing, and managing a vertically integrated hydrogen supply chain. Green Energy Park collaborates with various energy consumers, providing them with a cost-effective solution to meet their decarbonization requirements.

Bart Biebuyck, CEO of Green Energy Park, emphasized: "The world is facing a pressing challenge in meeting its climate targets.

The need for immediate action is paramount. Despite numerous initiatives and initiatives to combat climate change, emissions from fossil fuels, such as coal, oil, and gas, have surged to new heights in 2023.

To reach Net Zero carbon emissions by 2050, we must install 6,000 gigawatts of electrolyzer capacity worldwide. This undertaking is monumental.

The encouraging news is that it's achievable. There is still time to act, but we must act swiftly!

Therefore, at Green Energy Park, our sole focus is on a mission: to generate renewable hydrogen at the most competitive price on a gigawatt scale.

To realize our ambitious objective, we leverage cutting-edge hydrogen production technologies and innovative process engineering solutions. We've strategically chosen one of the most advantageous sites for renewable hydrogen production worldwide, located in the State of Piaui, Brazil.

In essence, Piaui is poised to become the epicenter of the hydrogen revolution. Thus, we are immensely proud of our robust partnership with the State of Piaui in this pivotal endeavor."

Victor Hugo Almeida, CEO of Investe Piaui, expressed: "The State of Piaui boasts some of the most favorable conditions globally for green hydrogen production. The State Government, led by Governor Rafael Fonteles, is fully dedicated to unlocking the immense potential of our unique natural resources for the benefit of our citizens, the environment, and the global community.

Green Energy Park presents our State with an extraordinary opportunity for a prosperous future. This large-scale hydrogen project will generate thousands of high-quality jobs in our region and expedite the transition to a green economy. Our aim is to attract international businesses to establish a world-class hydrogen cluster by fostering an investment-friendly environment with robust backing from the State of Piaui. Thus, we are pioneering an innovative approach to green industrialization in our nation, setting an example for others in Brazil and beyond.

We take immense pride in Green Energy Park's decision to establish the most advanced hydrogen production facility in the world here in Piaui. The government stands fully behind this endeavor and is ready to provide comprehensive support to ensure the success of this global flagship project."