NEW YORK, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Brooge Energy Ltd, ("Brooge Energy" or the "Company"), a Cayman Islands-based infrastructure provider, which is currently engaged in clean petroleum products and biofuels and crude oil storage and related services, announced today that it has engaged thyssenkrupp Uhde, a leading German chemical technology and EPC provider, including climate protection, to undertake the technical study of its planned Green Hydrogen and Green Ammonia plant.
The study will cover the green hydrogen production facilities, the ammonia plant, and the associated utilities. The study aims to provide cost estimates for capital and operating expenditures, EPC timeline, and selected process and layout documents. The Company plans to commence the study shortly with the final report expected to be delivered during fourth quarter 2022.
Mr. Nicolaas Paardenkooper, Chief Executive Officer of Brooge Energy, stated, "Engaging thyssenkrupp Uhde is another important step in our transition to clean energy. Global demand for clean energy sources has been strong and is expected to accelerate in the coming years. We are excited to begin the process of bringing this highly anticipated project to reality through engaging with the appropriate partners to see the project to completion. We have been at the forefront of the clean energy movement and our goal is to be one of the first private companies to successfully implement a green hydrogen/ ammonia project in UAE and demonstrate its economic and environmental benefits on local and global scale."
As previously announced on June 28, 2022, the Company established Brooge Renewable Energy Ltd ("BRE"), a wholly owned subsidiary of Brooge Energy to focus on green energy related infrastructure activities. At the same time the Company announced that BRE, as a first step, planned a Green Hydrogen and Green Ammonia plant in Abu Dhabi that is targeted to now produce up to 600,000 MT green Ammonia per annum in its second phase and has signed a preliminary land lease agreement for a 150,000 square meter plot that will accommodate the project. "BRE" currently expects to begin construction of this facility in 2023.
About Brooge Energy Limited
Brooge Energy Ltd, is a Cayman Islands-based infrastructure provider now intending to focus on renewable energy infrastructures and biofuels, next to clean petroleum products, crude oil storage and related services. The company conducts its business and operations through its subsidiaries Brooge Renewable Energy, Brooge Petroleum and Gas Investment Company FZE, and Brooge Petroleum and Gas Investment Company Phase 3 FZE (BPGIC). BPGIC, the Company's primary operating subsidiary that focuses on midstream oil storage and other services, is strategically located outside the Strait of Hormuz at the Port of Fujairah in the Emirate of Fujairah in the UAE. The Company differentiates itself from competitors by providing customers with fast order processing times, excellent customer service and high accuracy blending services with low product losses. For more information, please visit at .
About thyssenkrupp Uhde
thyssenkrupp Uhde combines unique technological expertise and decades of global experience in the engineering, procurement, construction, and service of chemical plants. thyssenkrupp Uhde develops innovative processes and products for a more sustainable future and thus contributes to the long-term success of customers in almost all areas of the chemical industry. Their portfolio includes leading technologies for the production of basic chemicals, fertilizers, and polymers as well as complete value-chains for green hydrogen and sustainable chemicals.
Forward-Looking Statements
This press release contains statements that are not historical facts, including the Company's anticipated shift towards green energy and targeted production at BRE's planned Green Hydrogen and Green Ammonia plant and constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements reflect management's current views based on certain assumptions, and they involve risks and uncertainties. Actual results, events or performance may differ materially from the forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including availability of labor and other resources needed to for completion of the new plant, timing of obtaining regulatory approvals needed with respect to the new facility, the Company's ability to complete construction and initiate operations of the new facility on the anticipated timeline or at all, the Company's ability to maintain the lease for the new facility, and other risks described in public reports filed by Brooge Energy with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Brooge Energy does not undertake any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contact
KCSA Strategic Communications
Valter Pinto, Managing Director
+1 212-896-1254
BROG@kcsa.com