REG - Chariot Limited - Green Hydrogen Pilot Projects in Morocco

ChariotAnnouncement

04/11/2022 07:00

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RNS Number : 2914F  Chariot Limited  04 November 2022

 
 

 

4 November 2022

 

Green Hydrogen Pilot Projects in Morocco

 

Evaluation of economic viability of large-scale green hydrogen production

 

Chariot Limited, the Africa focused transitional energy group ("Chariot"),
Mohammed VI Polytechnic University ("UM6P") and Oort Energy ("Oort"),
collectively the "Parties", are pleased to announce they have agreed to
collaborate on green hydrogen pilot projects in Morocco.  Utilising a polymer
electrolyte membrane ("PEM") electrolyser system, patented by Oort, which
splits water to produce hydrogen and oxygen using renewable energy, this
partnership will run initial proof of concept projects while evaluating the
feasibility of the implementation of large scale green hydrogen and ammonia
production.

 

With Chariot's experience in evaluating the economic viability of such
projects, along with UM6P's network and expertise in-country the partnership
will concurrently develop education and capacity building around green
hydrogen and ammonia production. It is intended that one of the pilot projects
will be hosted at Research and Development facility in OCP Jorf Lasfar,
Morocco.

 

"We are delighted to be partnering with Chariot and Oort on this project to
implement a new technology PEM Electrolyser in UM6P Lab for Education &
research and to work jointly on new projects on electrolyser technologies,
exchange and transfer of information. The green hydrogen sector needs
collaboration of this nature to develop education and research in this new and
strategic domain for Morocco." stated Mohamed Bousseta, Director of Innovate
for Industry at UM6P

 

"Oort's mission is to bring the cost of green hydrogen production down so that
it becomes a widely accessible source of energy. Testing our unique
electrolyser technology in this setting will be a key step in demonstrating
its capabilities whilst also assessing its efficiency, durability and cost
structure for implementation in large scale projects." said Nick van Dijk, CEO
of Oort

 

"We are very pleased to be working alongside Oort and UM6P in evaluating the
viability of another significant green hydrogen project and expanding our
footprint beyond our work in Mauritania into Morocco. Chariot's ambition is to
become one of the world's leading green hydrogen producers and ensuring access
to reliable, cost-efficient electrolyser capacity will be a vital part of our
pathway to production. We look forward to getting started on this pilot as
well as collaborating on other projects of this nature in the future." added
Adonis Pouroulis, CEO of Chariot Limited

 

 

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

 Peel Hunt LLP (Joint Broker)                     +44 (0) 20 7894 7000

 Richard Crichton, David McKeown

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

 Mark Antelme, Jimmy Lea

 

NOTES FOR EDITORS:

 

About Chariot

 

Chariot is an African 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 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, is
looking to transform the energy market for mining operations in Africa, by
providing a giant largely untapped market with cleaner, sustainable, and more
reliable power. Chariot Green Hydrogen is also partnering with Total Eren and
the Government of Mauritania on the potential development of a 10GW green
hydrogen project, named Project Nour. Further large scale green hydrogen
opportunities are also being evaluated.

 

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

About Mohammed VI Polytechnic University (UM6P)

The Mohammed VI Polytechnic University is a hub of education, research,
innovation and entrepreneurship, aspiring to become a solid bridge of
knowledge between Morocco, Africa and the world.

 

Located in the "Mohammed VI Green City" in Benguerir, near Marrakech, with
branches in Rabat and Laayoune, UM6P applies a "learning by doing" approach
and develops sound partnerships with world-wide class universities, to promote
leadership and training in focused research areas.

 

By contributing to the training of a new generation of researchers,
entrepreneurs and leaders, UM6P is committed to positioning Morocco and Africa
at the forefront of technology and human Sciences.

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

About Oort

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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