RCS - Chariot Limited - Update on Green Hydrogen Pilot Projects in Morocco

ChariotAnnouncement

02/08/2023 07:00

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RNS Number : 9784H  Chariot Limited  02 August 2023

 

Reach
 

 

2 August 2023

 

Chariot Limited

 

("Chariot", the "Company")

 

 

Partnership Agreements Extend Collaboration on Green Hydrogen Pilot Projects
in Morocco

 

Chariot Green Hydrogen Limited, a subsidiary of Chariot Limited, the
Africa-focused transitional energy group, Mohammed VI Polytechnic University
(UM6P) and Oort Energy Limited (Oort), are pleased to have signed further
Partnership Agreements to extend their collaboration, as previously announced
in November 2022, to test the production of green hydrogen in Morocco. The
agreements are focused on the construction, commissioning and operating of an
electrolyser pilot project as well as further development of skills and
training within the sector.

 

The pilot 'proof of concept' project will utilise a 1MW polymer electrolyte
membrane ("PEM") electrolyser system, patented by Oort and it is intended that
this project will be hosted at UM6P's Research and Development facility in OCP
Jorf Lasfar, Morocco, the largest fertilizer complex in the world.

 

The partnership will concurrently develop education and capacity building at
UM6P to support the growth of a green hydrogen economy alongside evaluating
the feasibility of the implementation of large-scale green hydrogen and
ammonia production, consistent with the timetable initially envisaged.

 

"The signing of these two agreements is key for UM6P, indeed the first one
concerns the test of a new electrolyser technology with a better performance
to be more competitive in green hydrogen production and second one concerns
collaboration in education to prepare skilled people for the need of this new
activity in green hydrogen and ammonia," stated Mohamed Bousseta, Director of
Innovate for Industry at UM6P.

 

"Testing the capacity of our electrolyser in an industrial setting is a
crucial part of our development planning. The efficiency and durability of
electrolysers will be integral in ensuring that green hydrogen can be produced
economically and on a scalable basis. We are excited about this phase which
will help inform our future growth strategies." said Nick van Dijk, CEO of
Oort.

 

"This partnership pools key resources as we are looking to develop our
knowledge and expertise in this sector for the benefit of all involved. This
endeavour is another step forward in Chariot becoming a green hydrogen
producer and will be of real value to our project developments in Morocco and
Mauritania as we confirm electrolyser performances." added Laurent Coche, CEO
of Chariot Green Hydrogen.

 

 

Enquiries

 

 Chariot Limited                                  +44 (0)20 7318 0450

 Adonis Pouroulis, CEO

 Julian Maurice-Williams, CFO

 Cenkos Securities Plc (Nomad and Joint Broker)   +44 (0)20 7397 8900

 Derrick Lee, Adam Rae

 Stifel Nicolaus Europe Limited (Joint Broker)    +44 (0) 20 7710 7760

 Callum Stewart, Ashton Clanfield
 Celicourt Communications (Financial PR)          +44 (0) 20 7770 6424

 Mark Antelme, Jimmy Lea

 

NOTES FOR EDITORS:

 

About Chariot

 

Chariot is an Africa focused transitional energy group with three business
streams, Transitional Gas, Transitional Power and Green Hydrogen.

 

Chariot Transitional Gas is focused on a high value, low risk gas development
project offshore Morocco in a fast-growing emerging economy with a clear route
to early monetisation, delivery of free cashflow and material exploration
upside.

 

Chariot Transitional Power is focused on providing competitive, sustainable
and reliable energy and water solutions across the continent through building,
generating and trading renewable power.

 

Chariot Green Hydrogen is partnering with Total Eren and the Government of
Mauritania on the potential development of a 10GW green hydrogen project,
named Project Nour.

 

The ordinary shares of Chariot Limited are admitted to trading on the AIM
under the symbol 'CHAR'.

 

https://chariotenergygroup.com (https://chariotenergygroup.com)

 

About Mohammed VI Polytechnic University (UM6P)

 

Mohammed VI Polytechnic University (UM6P) is a Moroccan non-profit research
university. Its main campus is located in Benguerir, near Marrakech, with
branches in Rabat and Laayoune. The university is an applied research and
innovation-oriented institution committed to economic and human development,
with a focus on Africa.

 

UM6P prioritizes research and innovation relevant to Morocco and Africa by
focusing on topics such as industrialization, food security, sustainable
development, mining, behavioral and social sciences. It federates a number of
schools and research institutes, covering science and technology (agriculture,
mining, energy, medicine, chemistry, computer science), social sciences and
business administration.

 

The University welcomed its first cohort of students in 2013 before being
officially inaugurated on January 12, 2017. Since then, it has continued to
grow into a leading research institution dedicated to collaboration between
Africa and the rest of the world. As such, UM6P has entered into numerous
partnerships with universities in Africa, Europe, Asia and the Americas.

 

https://um6p.ma (https://um6p.ma/)

 

About Oort Energy

 

Oort is engaged in the research and development, manufacture, delivery and
installation of the next generation of hydrogen electrolysers. Oort has a
single mission - to make green hydrogen universal. Oort Energy has developed
technologies to make electrolysis economical and sustainable with innovative,
proprietary solutions that blend performance and durability in systems that
deliver market-leading operational and capital efficiencies.

 

https://www.oortenergy.com (https://www.oortenergy.com)

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