TORONTO, ON / ACCESSWIRE / August 30, 2022 / (CSE:AMMP)(OTCQB:AMMPF)(FSE:601A) / AmmPower Corp. (the "Company" or "AmmPower") is pleased to announce the completion of a pre-feasibility study for the green ammonia port facility at Porto Central, Brazil.
AmmPower has a Memorandum of Understanding with Porto Central, a port location under development in Brazil with the objective to be a major green energy hub (the "Facility"), to design, build, finance, maintain and operate a 4,000 metric ton per day ("mtpd") green ammonia facility. The Company worked with an EPC (engineering, procurement, and construction) company to complete the pre-feasibility study for both a 4000mtpd and 2000mtpd green ammonia port facility design.
AmmPower anticipates that off-shore wind will be the prime source of power for the green ammonia port facilities, as access to off-shore wind connections via strategic coastal locations is prioritized amongst each project. The Company believes that simultaneously developing the off-shore wind farms and solar farms will help the Facility be able to better maintain stable resource costs, creating a more effective business model and optimal market price.
The Facility is designed to distribute domestic fertilizer for agricultural off-takers, transport hydrogen in the form of ammonia to major international off-takers via Atlantic Ocean conduit and support shipping companies by providing bunkering and jetty accessibility for fueling ships and loading fuel for transport.
The Facility is expected to consist of fully integrated systems, including off-shore wind energy and solar farm resources, partnerships with other industry experts, as well as a combination of proprietary technology specializing in ammonia synthesis, ammonia decomposition, and manufacturing efficiency. The Company believes integration of the full value-chain from early development will allow the Company's projects to successfully develop product with reduced costs for the facilities as well as clients and off-takers.
The following animation illustrates the port layout for the Facility based upon the results of the pre-feasibility study (video may also be accessed here).
For more information about Porto Central's development, process, and design, please visit the Porto Central website.
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.
For More Information please visit www.ammpower.com, or contact AmmPower Investor Relations: +1 248-662-5565, invest@ammpower.com
Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to off-shore wind becoming the prime source of power for green ammonia port facilities, the development of off-shore wind farms and solar farms, the Facility consisting of fully integrated systems, and the integration of the full value-chain from early development. 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 those 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 Corp.
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https://www.accesswire.com/713996/AmmPower-Corp-Completes-Pre-Feasibility-Study-and-Creates-Site-Layout-Plan-for-Green-Ammonia-Plant-at-Porto-Central-in-Brazil
