RCS - Oracle Power PLC - Update on Green Hydrogen Production Facility

Oracle PowerAnnouncement

11/03/2022 07:00

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RNS Number : 4229E  Oracle Power PLC  11 March 2022

 

11 March 2022

 

Oracle Power PLC

("Oracle", the "Company" or the "Group")

 

Update on Green Hydrogen Production Facility

 

Oracle Power PLC (AIM:ORCP), the international natural resources project
developer, is pleased to announce the appointment of H&P Advisory Limited,
part of the Hannam & Partners group, ("H&P") as financial adviser and
consultant to Oracle in relation to the Company's potential green hydrogen
project in Pakistan (the "Project").

 

H&P will focus exclusively on the Project, providing strategic advisory
and financial services to realise its full potential  for the benefit of
Oracle stakeholders, including the  preparation of a valuation model.
H&P's work will be integrated into the various workstreams which are
underway between Oracle and various other partners including buyers,
technology suppliers, lenders and other interested parties.

 

Naheed Memon, CEO of Oracle, commented:

 

"Our green hydrogen production project is entering its next phase of planning
and development and I am delighted to announce the appointment of H&P who
will support us on this journey.  H&P are a highly regarded investment
bank with a proven track record in the resources and energy industries, and
furthermore, they possess an exceptional network of international contacts
through which to commercialise our green hydrogen project.

 

"Green energy is at the forefront of governmental decision making and is part
of the global conversation more than ever before.  Harnessing this emerging
green fuel source will support the global transition towards a carbon free
future and also enable countries with significant renewable energy potential,
such as Pakistan, to become competitive suppliers.  I look forward to
providing further updates on this globally significant project in due course."

 

 

 

 

*ENDS*

 

For further information:

 Oracle Power PLC                            +44 (0) 203 580 4314

 Naheed Memon - CEO
 H&P Advisory Limited                        +44 (0) 207 907 8502

 Neil Passmore

 St Brides Partners Limited (Financial PR)   +44 (0) 20 7236 1177

 Susie Geliher, Catherine Leftley

About Oracle Power PLC:

 

Oracle Power PLC is an international natural resource and power project
developer quoted on London's AIM market.  The Company holds two highly
prospective gold assets in two globally significant gold regions of Western
Australia.  The Northern Zone Project is located 25km east of the major gold
mining centre of Kalgoorlie, the home of the 'Super Pit' mine, the second
largest gold mine in Australia, and the Jundee East Gold Project is located
~9km east of Northern Star's Jundee Gold Mine, one of Australia's largest gold
mines.

 

The Company is also active in the power industry in Pakistan and is working to
establish a green hydrogen production facility in association with
PowerChina.  The Company's initial project is the Thar Block VI Project in
south-east Pakistan where the Company is advancing plans for a combined
lignite coal mine, a 1,320MW mine mouth power plant and a proposed coal
gasification to urea project.

 

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