REG - Chariot Limited - Chariot and Total Eren partner on hydrogen project

ChariotAnnouncement

06/09/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220906:nRSF3453Ya&default-theme=true

RNS Number : 3453Y  Chariot Limited  06 September 2022

 

 

 

 

 

CHARIOT PARTNERS WITH TOTAL EREN ON A GREEN HYDROGEN PROJECT IN MAURITANIA

 

 

Paris/London, September 6(th), 2022  ̶  "The Consortium" composed of
Chariot Limited (AIM: CHAR), the Africa focused transitional energy company
and Total Eren, a leading renewable energy Independent Power Producer (IPP)
based in Paris, is pleased to announce that it will launch feasibility
 studies in order to                co-develop the "Nour
Project", a large-scale green hydrogen project to be located in Mauritania.

 

Key features of the Partnership:

 

·    Equally owned (50%/50%) partnership between Chariot and Total Eren;

·    The Consortium will benefit from the dedicated expertise of Total
Eren's teams, holding a wide range of experience and knowledge in solar, wind,
hybrid and green hydrogen projects globally;

·    Chariot will co-lead on project development and permitting, local
content, and stakeholder engagement;

·    The Consortium will seek to progress on the in-depth feasibility
study and offtake for the green hydrogen; and

·    Chariot and Total Eren may evaluate further green hydrogen
opportunities together in other African countries.

 

Thanks to its unique solar and wind resources, Mauritania has proved to be
exceptionally well-placed to implement Power-to-X solutions, providing Nour
Project the possibility to produce among the most competitive green hydrogen
in the world. With a potential reaching up to 10 GW of electrolysis to be
installed, it could become, once fully implemented, one of the most
significant green hydrogen projects in Africa.

 

Through the Nour Project, the Consortium will contribute to a sustainable
economic development in Mauritania, including potentially providing baseload
power to the national grid, diversifying industrial activities, promoting job
creation and developing local infrastructure. It will also be providing a
cost-effective, transportable energy solution to replace CO(2) emitting fuels
for exportation to the European market.

 

Fabienne Demol, Executive Vice-President & Global Head of Business
Development of Total Eren, stated:  "We believe that green hydrogen is going
to be an essential part of the energy mix in the future, and we are delighted
to enter into this new partnership on a continent where our strategic
shareholder, TotalEnergies, holds a strong footprint. Our skillsets complement
Chariot's well and we intend to share our expertise throughout the project's
development. I also would like to take the opportunity to thank the
Mauritanian authorities for their support and collaboration. We look forward
to taking the next steps on the Project together with Chariot."

 

 

Adonis Pouroulis, Chariot's CEO added: "We are delighted to have further
cemented our partnership with Total Eren, a world-class leader in renewable
energies. We look forward to working together on this highly important green
hydrogen development in Mauritania. Having a partner of such calibre, who
shares our vision and focus for the future, is a key part of developing this
valuable asset and marks an important step forward in Project Nour's
evolution. We are keen to continue to expand our green hydrogen project
portfolio and, as with our renewables business, we look forward to
collaborating on further opportunities alongside Total Eren in the future."

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014, as retained in the UK pursuant to S3 of the European
Union (Withdrawal) Act 2018.

 

 

About Total Eren

Founded in 2012 by Pâris Mouratoglou and David Corchia, Total Eren develops,
finances, builds and operates renewable energy power plants (solar, wind,
hydro) representing a gross capacity of 3,500 MW in operation worldwide.
Through partnerships with local developers, Total Eren is currently developing
numerous energy projects in countries and regions where renewable energy
represents an economically viable response to growing energy demand such as in
Europe, in Central and South Asia, in Asia Pacific, in Latin America and in
Africa. Since December 2017, TotalEnergies, the major energy company, has been
participating as a shareholder of Total Eren.

 

Besides Mauritania, Total Eren is working on several large-scale green
hydrogen projects globally.

 

Visit us at www.total-eren.com (http://www.total-eren.com) .

 

About Chariot

 

Chariot is an African focussed transitional energy group with two business
streams, Transitional Gas and Transitional Power.

 

Chariot Transitional Gas is a high value, low risk gas development project
offshore Morocco with strong ESG credentials in a fast-growing emerging
economy with a clear route to early monetisation, delivery of free cashflow
and material exploration upside. Chariot Transitional Power, looking to
transform the energy market for mining operations in Africa, providing a giant
largely untapped market with cleaner, sustainable, and more reliable power.

 

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

 

 

 

 

 

 

 

 

For more information, please contact :

 

 Total Eren

 Solange Petit de Bantel, Communication and PR Manager                                            +33 6 18 23 76 99

 solange.debantel@total-eren.com (mailto:solange.debantel@total-eren.com)

                                                                                                +33 1 53 96 83 83
 Agnès Catineau, Virgile Billod (Brunswick

 Group)

 eren@brunswickgroup.com (mailto:eren@brunswickgroup.com)

                                                                                                  +44 (0)20 7318 0450

 Chariot Limited

 Adonis Pouroulis, CEO

 Julian Maurice-Williams, CFO

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

 Derrick Lee, Adam Rae (Corporate Finance)

 Peel Hunt LLP (Joint Broker)

 Richard Crichton, David McKeown                                                                  +44 (0) 20 7894 7000

 Celicourt Communications (Financial PR)                                                          +44 (0)20 8434 2754

 Mark Antelme, Jimmy Lea

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCVELFBLKLFBBF