Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
NEW YORK, April 05, 2023 (GLOBE NEWSWIRE) — Brooge Energy Ltd, (“Brooge Energy” or the “Company”) (NASDAQ: BROG), 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 the technical study of its Green Hydrogen and Green Ammonia plant conducted by thyssenkrupp Uhde (“thyssenkrupp”) has been completed and delivered. On September 21, 2022, Brooge Energy announced that it engaged thyssenkrupp to undertake a Technical Concept Study and cost estimate for the proposed green ammonia plant, which is based on thyssenkrupp nucera’s alkaline water electrolysis and thyssenkrupp Uhde ammonia synthesis technologies. The plant is planned in two phases up to a total of 1950 mtpd export focused green ammonia production facility located in Abu Dhabi in the United Ar Emirates (UAE). The plant will produce green ammonia using green hydrogen from solar energy with water and air as raw materials. The study involved a comprehensive techno-economic analysis of the power-to-ammonia value chain using thyssenkrupp’s proprietary modeling tool. The goal was to evaluate the influence of various factors on the overall cost-effectiveness of the green ammonia plant. This analysis explored multiple scenarios to identify optimal plant designs coming along with various supporting documentation dealing with technical and execution concepts on a fully integrated approach. “This Technical Concept Study is a significant milestone in our journey towards sustainable energy transition. The study’s results will help us determine the optimal setup for our green ammonia plant and guide our future investment decisions,” said Lina Salah Saheb, Interim Chief Executive Officer of Brooge Energy. About Brooge Energy Limited Brooge Energy Ltd, is a Cayman Islands-based infrastrucue 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 (BPGIC), and Brooge Petroleum and Gas Investment Company Phase 3 FZE . 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 www.broogeenergy.com. About thyssenkrupp Uhdethyssenkrupp Uhde combines unique technological expertise and decades of global experience in the engineering, procureen, 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. www.thyssenkrupp-uhde.com Forward-Looking StatementsThis 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, evets r 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 ContactKCSA Strategic CommunicationsValter Pito, anaging Director+1 212-896-1254 [email protected]
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
Ocean Biomedical (NASDAQ: OCEA) Will Target Pulmonary Fibrosis Discoveries as Novel Treatments of Hermansky-Pudlak Syndrome
Foundery and the University of Arizona Sign Master Agreement to Translate Novel Discoveries into Transformational Immunotherapies
Shell plc (SHEL) Updates Q4 Guidance
